SAO PAULO (Reuters) - U.S. autoparts maker Meritor (MTOR.N) on Thursday announced an investment of 200 million reais ($48 million)to build a new plant in Brazil, as the South American country leaves behind a bitter recession.
The plant will be Meritor’s third in Brazil, where it also operates in the cities of Osasco and in Resende. The construction of the new factory should start in March while operations are slated to begin in April 2021.
“The project should have already been launched, but due to the huge recession in Brazil, it was dormant for a while,” said the general director of Meritor in Brazil, Adalberto Momi.
Based in Michigan, Meritor manufactures integrated systems, modules and components for equipment manufacturers in the transportation and industrial segments.
The company sells to manufacturers of trucks, buses, and has customers in the defense industry.
Reporting by Aluísio Alves; Writing by Ana Mano; Editing by Marguerita Choy