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The Multinational Ford Announced the Sale of Its Factory in Taubaté, Which Has Been Inactive Since 2021. No Values Were Disclosed, But the Manufacturer Claims That the Entire Process Will Be Finalized in Up to 3 Months.
The multinational Ford announced this Wednesday (18) the sale of its factory located in Taubaté, in the inland of São Paulo. The unit was shut down last year when the automaker decided to end vehicle production in the country. In the official statement, the company claims it has signed a purchase and sale agreement for the factory with the company São José Desenvolvimento Imobiliário, however no value regarding the sale has been disclosed. According to Ford in the statement, the sale of the unit is now awaiting approval from the Administrative Council for Economic Defense (Cade). The company expects the sale to be completed in about three months.
Ford Exits Brazil Permanently
In January of last year, the multinational Ford announced the closure of its operations in the country, with the immediate shutdown of the factories located in Taubaté, in the inland of São Paulo, and also in Camaçari, located in Bahia.
In Taubaté, the company had around 800 employees, marking this as its second factory sale in the country. In October 2020, the multinational completed the sale of its factory in São Bernardo do Campo, in the Greater São Paulo area. In a statement issued by the automaker, it is stated that a purchase and sale agreement has already been signed and that the joint due diligence process will now begin.
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The completion of the deal also depends on the approval of the Administrative Council for Economic Defense (CADE). Now the entire process is expected to take about 60 to 90 days to be completed.
Learn About the History of the Factory in Taubaté
In total, there were more than half a century of the company’s history in Taubaté. The last chapter was written last year when the multinational Ford announced the closure of the unit in the municipality of the Paraíba Valley. Previous chapters had already indicated a possible end to this decades-long story.
The multinational had been facing various difficulties due to the economic scenario, having to adopt some measures at the factory, such as halting production, reducing working hours, layoffs, and salary cuts.
Due to the economic crisis that was generated by the onset of the coronavirus pandemic, the North American multinational had to choose to end production in Brazil. It marked the end of the plant which was inaugurated in 1974; however, its history began much earlier, with the acquisition of Willys-Overland, which produced more than 8 million engines and 7 million transmissions for Brazil and the world.
Get to Know the Company Better
In Brazil, Ford initially focused on importing vehicles produced abroad. After Ford Argentina, Ford Brazil was the second South American subsidiary.
The company initially set up in a warehouse on Florêncio de Abreu Street in the city of São Paulo, moving a year later to Praça da República, until in 1921, facilities specially designed to operate as a vehicle assembly line were inaugurated on Solon Street, in the Bom Retiro neighborhood. The company began with the production of the Model T automobiles and the Model TT trucks.
According to the multinational itself, its goal is to provide excellent products and services that improve the lives of many people, aiming to be the world’s leading company in consumer evaluation of automotive products and services. Today, Ford is the sixth largest producer of cars and trucks in the world and is present in more than 120 countries, with 67 factories and approximately 200,000 employees.
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