April 12, 2019 / 12:08 PM / 13 days ago

China's Foton considers acquisition of a Ford plant in Brazil -newspaper

SAO PAULO, April 12 (Reuters) - China’s Beiqi Foton Motor Co Ltd is eyeing the acquisition of Ford Motor Co’s Brazilian plant in the industrial city of Sao Bernardo do Campo, newspaper Valor Economico reported on Friday.

The acquisition could be an alternative to construction of a plant planned by Foton in Guaiba, a city in Brazil’s south region. No decision has been made yet, Marcio Vita, chief executive of Foton’s subsidiary in Brazil told Valor.

A move by Foton, which focuses on buses and other heavy vehicles, is likely to add fuel to the competition for the Sao Bernardo plant. Reuters reported in March that Brazilian automaker CAOA had signed a confidentiality agreement to negotiate a potential purchase of this Ford’s plant.

Reporting by Carolina Mandl; Editing by Steve Orlofsky

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