In this news, we discuss the Ford sells struggling Brazil factory.
BRASILIA (Reuters) – U.S. automaker Ford Motor Co FN said on Saturday it has closed the sale of one of its plants in Brazil to civil construction and logistics company Construtora Sao Jose and asset manager FRAM Capital, without disclose the price.
A previous deal to sell the plant in Sao Bernardo do Campo, which makes the little-sold Ford Fiesta as well as buses, to Brazilian manufacturer CAOA failed last year. Ford subsequently announced the closure of the plant.
Ford’s statement revealing the sale to Sao Jose and FRAM did not give any details about the transaction.
Reporting by Jake Spring; Editing by Angus MacSwan
Original © Thomson Reuters