Ford, The American Automotive Giant, Sells Factory In São Paulo For 565 Million Reais

Written by Flavia Marinho

Published on 05/11/2020 at 11:04

Updated on 05/11/2020 at 11:09

Fábrica da gigante americana fabricante de automóveis – Ford, no ABC paulista, foi comprada pela construtora São José e fundo de investimentos FRAM

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Ford Factory in ABC Paulista Was Purchased by Construction Company São José and Investment Fund FRAM

Last Saturday (10/31), the American automaker Ford announced that it has completed the sale of its factory in São Paulo to the construction and logistics company Construtora São José and asset manager FRAM Capital. IMMEDIATE EMBARKATION: multinational hires urgently for positions in offshore project in Brazil

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Ford halted the production of trucks and passenger vehicles at its São José factory over a year ago. The purchase agreement was signed last June with Construtora São José and the investment fund FRAM Capital.

The transaction value was already known, R$ 565 million for the area of 1.072 million square meters. The companies announced the deal in June.

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The former Ford factory in ABC Paulista, São Paulo, was responsible for the production of the Fiesta and trucks from the Cargo, F-4000, and F-350 lines. The sale of the unit is part of the company’s global restructuring plan, focusing on the development of SUVs and pickups.

In the statement, Ford said that the two companies presented the best alternative for the site among a series of potential buyers. “From the beginning of this process, we prioritized projects that best met the region’s needs,” said Lyle Watters, President of Ford South America and International Markets Group. “We are very pleased to conclude this transaction with Construtora São José and FRAM Capital, reputable companies with extensive experience in their sectors, which will contribute to job creation and the development of São Bernardo do Campo.”

The entire process of closing the factory was quite troubled. With the possibility of losing hundreds of jobs and causing an impact in the region, the city hall of São Bernardo do Campo and the state government of São Paulo joined forces to look for interested buyers for the factory.

One of them was Grupo Caoa, which planned to assemble models from a new Chinese brand in the country but ended up abandoning the deal. Rumors said that other Chinese companies showed interest in the industrial complex.

Currently, all Ford vehicle production in Brazil is done in Camaçari (BA), at the factory opened in 2001, which is responsible for the Ka (hatch and sedan) and EcoSport lines, as well as engines. Additionally, the American brand owns Troller, which manufactures the T4 Jeep in Horizonte (CE).

Ford, The American Automotive Giant, Sells Factory In São Paulo For 565 Million Reais

Ford Factory in ABC Paulista Was Purchased by Construction Company São José and Investment Fund FRAM

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