Ford exiting heavy truck business in South America

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Ford exiting heavy truck business in South America

FILE PHOTO: The Ford logo is pictured on the company’s stand during the 88th Geneva International Motor Show in Geneva, Switzerland, March 7, 2018. REUTERS/Denis Balibouse

DETROIT (Reuters) – Ford Motor Co on Tuesday said it would exit its heavy commercial truck business in South America and cease production at a Brazilian plant this year as a result.

The No. 2 U.S. automaker expects to record pretax special charges of about $460 million, with most of that recorded this year, it said in a statement.

Reporting by Ben Klayman; editing by Jonathan Oatis