Ford sells struggling Brazil factory By Reuters

Tech wreck temporary as earnings season, Fed cuts will spur rebound, Wedbush says

Ford sells struggling Brazil factory

Published Oct 31, 2020 11:47AM ET Updated Oct 31, 2020 11:55AM ET

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BRASILIA (Reuters) - U.S. automaker Ford Motor Co (N:F) 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 (NASDAQ:FRGI) 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.

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Comments (1)

Kaveh Sun Oct 31, 2020 12:48PM ET

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Just land value, everything else is free.

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