Ford Motors drops $1.6bn Mexico plantJanuary 4, 2017 - 15:04 AMT PanARMENIAN.Net - Ford has said it will cancel a $1.6bn plant it planned to build in Mexico and instead extend operations at its factory in Michigan, BBC News reports. The U.S. car giant will spend $700m on expanding the plant at Flat Rock. Ford boss Mark Fields said the decision was partly due to falling sales of small cars and partly a "vote of confidence" in Donald Trump's policies. The President-elect has criticised both Ford and its rival General Motors over production of models in Mexico. Trump earlier on Tuesday, January 3 tweeted criticism of GM's production of its Chevy Cruze model in Mexico. Mexico's economy ministry said it regretted Ford's decision, adding that it had assurances that the U.S. car firm would pay the state of San Luis Potosi for any costs incurred from the cancellation. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |