Volkswagen says may close a factory in Brazil

Newswire

SAO PAULO, Brazil, Aug 21 (Reuters) - Volkswagen AG's Brazilian unit said on Monday that it may close one of its factories if it fails to reach an agreement with labor unions over its proposed restructuring plan. Like other major automakers in Brazil, Volkswagen has been hit hard in the last two years by the steep appreciation of the Brazilian real versus the U.S. dollar. The strong real has made it increasingly difficult for automakers in Brazil to export to foreign markets, a key aspect ...

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