Ford sells Brazil factory to Construtora Sao Jose and FRAM Capital

Ford Motor said on Saturday it had closed the sale of one of its factories in Brazil to the construction company Construtora Sao Jose and asset manager FRAM Capital, without revealing the price.

Ford declared in 2019 that it would close its São Bernardo do Campo plant.

In 2018, the automaker said it used only 12 percent of its installed capacity in the plant, which is its oldest in the nation. Closing the plant is part of Ford’s wider move to stop producing heavy commercial trucks in South America.

An earlier agreement to sell the factory in Sao Bernardo do Campo, which makes Ford Fiesta and buses, to Brazilian automaker CAOA fell through last year. Ford subsequently announced it was shutting the plant.

The Ford statement revealing the sale to Sao Jose and FRAM lacked enough details on the transaction.