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GM shuts Australia, NZ operations; sells Thai plant to Great Wall

US automaker takes $1.1bn hit and gives up on expansion in Southeast Asia

General Motors' latest retreat comes a month after it told analysts it would restructure its international operations outside China to chase profit margins in the mid single digits.   © EPA/ Jiji

NEW YORK/BEIJING (Reuters) -- General Motors Co said it would wind down its Australian and New Zealand operations and sell a Thai plant in the latest restructuring of its global business, costing the U.S. automaker $1.1 billion.

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