Company News

Ford sells struggling Brazil factory

FILE PHOTO: Ford's oldest Brazil plant is seen after the company announced its closure, in Sao Bernardo do Campo, Brazil February 20, 2019. REUTERS/Amanda Perobelli

BRASILIA (Reuters) - U.S. automaker Ford Motor Co F.N said on Saturday it had closed the sale of one of its factories in Brazil to civil construction and logistics firm Construtora Sao Jose and asset manager FRAM Capital, without disclosing the price.

A previous agreement to sell the factory in Sao Bernardo do Campo, which makes the poor-selling Ford Fiesta as well as buses, to Brazilian automaker CAOA fell through last year. Ford subsequently announced it was closing the plant.

The Ford statement disclosing the sale to Sao Jose and FRAM did not give any details on the transaction.

Reporting by Jake Spring; Editing by Angus MacSwan