MELBOURNE - Car manufacturer Ford announced Thursday it will cease making vehicles in Australia in 2016 and axe 1,200 jobs, having produced its first car in the country in 1925.
Ford Australia chief executive Bob Graziano made the announcement as he revealed a loss of Aus$141 million (US$136 million) after tax in the last financial year, with losses of Aus$600 million over the last five years.
The main auto factory at Broadmeadows is one of the casualties as Ford Motors decides to close all operations in Australia by 2016, in a move that will have major advantages for Thailand. (Photo by Ford Motors)
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