High costs, currency push Ford out of Australia car manufacturing

Ford will shut its two Australian auto plants in October 2016, blaming a strong currency and costs that are hitting manufacturers just as the country looks for other sectors of its economy to cushion the end of a mining boom.

Ford Australia will close its engine plant in Geelong and its vehicle assembly plant in Broadmeadows, both in Victoria state, with the loss of 1,200 jobs, Ford Australia chief executive Bob Graziano said on Thursday, the latest election-year blow to the struggling Labor government.

via Business feed http://www.scmp.com/business/companies/article/1244085/high-costs-currency-push-ford-out-australia-car-manufacturing