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Ford (F) - Get Ford Motor Company Report shares were down slightly in premarket trading Wednesday after the automaker announced that it expects to take impairment charges between $450 million and $500 million from a restructuring of its Ford Sollers Netherlands B.V. joint venture. 

Ford said it will no longer produce passenger vehicles in Russia after ceasing production at its Naberezhnye Chelny and St. Petersburg vehicle assembly plants.  

The move marks a shift for the joint venture, with Sollers set to assume control of the venture which is currently being led by Ford. The restructured entity will focus on commercial vehicles with passenger vehicle production set to cease by the end of June. 

Ford Sollers currently produces seven models, including the Ford Focus, Ford Mondeo, the Ford Explorer, the Ford Kuga, the Ford Fiesta, the Ford EcoSport and a lineup of transit special commercial vehicles. 

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