| 12:03 AM EST

Brazil’s CAOA May Buy Ford Factory

CAOA—the Brazilian carmaker, Ford dealer and importer of Hyundai and Subaru vehicles—has reached a tentative deal to buy Ford Motor Co.’s assembly plant in Sao Bernardo do Campo, Reuters reports.
#facilities #Hyundai #Ford

Share

Facebook Share Icon LinkedIn Share Icon Twitter Share Icon Share by EMail icon Print Icon

CAOA—the Brazilian carmaker, Ford dealer and importer of Hyundai and Subaru vehicles—has reached a tentative deal to buy Ford Motor Co.’s assembly plant in Sao Bernardo do Campo, Reuters reports.

Terms were not divulged. Nor did CAOA, whose name derives from the initials of founder Carlos Alberto de Oliveira Andrade, indicate what it plans to produce at the factory.

Ford announced in February that it was closing the facility this year and exiting Brazil’s heavy-duty commercial truck market. The factory, which opened in 1967, is the oldest auto plant in Brazil. The complex has produced a wide variety of cars and trucks, most recently Fiesta small cars and F-350 and F4000 trucks.

Ford’s shutdown this year is eliminating roughly 2,700 jobs. CAOA says it told the plant’s unionized workforce that it intends to hire 800 of those employees, pending incentives from the state of Sao Paulo.

Retained workers will be paid as much as 80% of the wages they earned under Ford’s management, according to union President Wagner Santana.

Related Topics

RELATED CONTENT

  • Global Supply of Automotive Fasteners from a Single Source

    PennEngineering offers a global supply for a wide range of fasteners for the automotive industry, including China-based facilities that manufacture standard and custom products to world-class standards of quality at lower cost.

  • Choosing the Right Fasteners for Automotive

    PennEngineering makes hundreds of different fasteners for the automotive industry with standard and custom products as well as automated assembly solutions. Discover how they’re used and how to select the right one. (Sponsored Content)

  • The Lexus GX 470: You Want Me To Drive This Where?

    According to Kunihiro Hoshi, chief engineer for the GX 470: “Three of my top goals were to create a body-on-frame vehicle with sweeping off-road performance and unibody-like on-road capability, and, of course, it had to meet the Lexus quality standard.” He met his goals. But why would anyone want to bang this vehicle around on rocks?