Ford reaches deal to move industrial unit to Brazil's Bahia state | Reuters

Ford logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany. REUTERS/Wolfgang Rattay/File Photo Acquire Licensing Rights

SAO PAULO, Aug 11 (Reuters) - Ford's (F.N) Brazilian unit on Friday said it reached a transfer agreement with the government of Bahia state to give it ownership of a factory complex closed since 2021. ladle rail cart

Ford reaches deal to move industrial unit to Brazil's Bahia state | Reuters

The automaker said the agreement will provide it with "compensation in amounts compatible with the market," but did not disclose an amount.

Chinese electric vehicle manufacturer BYD has shown interest in the complex, located in the Camacari industrial park. The automaker has since at least mid-2022 been trying to reach a deal with Ford and the Bahia government to acquire the asset.

BYD said in a statement that it "continues with the planning to invest in the Camacari industrial park, maintaining the necessary negotiations with the Bahia government."

It was not immediately clear whether the industrial unit mentioned by the company involves the Ford area.

Reporting by Alberto Alerigi Jr.; Editing by Sandra Maler

Our Standards: The Thomson Reuters Trust Principles.

Brazilian Defense Minister Jose Mucio said on Tuesday he will travel to Sweden next month to negotiate a potential sale of Embraer's C-390 Millennium military cargo aircraft to the country.

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Ford reaches deal to move industrial unit to Brazil's Bahia state | Reuters

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