• Categories
  • Archives

Ford Counts on Brazil to Help Cure Its US Ills

The presidency of vehicle factory Ford announced, after a meeting with Brazilian President Luiz Inácio Lula da Silva, that the group is going to invest US$ 1 billion in the country between 2007 and 2011.

The largest part of the funds will be invested in the Northeast – Ford has a production unit in the city of Camaçari, in Bahia, and has now purchased Brazilian vehicle maker Troller, which produces off-road vehicles, and is based in the city of Horizonte, in the state of Ceará.

For strategic reasons, the Corporate and Communication Affairs director at Ford Brazil, Rogélio Golfarb, did not give details about where the funds will be invested. However, he added that the total includes the amount paid for Troller.

Regarding the generation of work posts, the carmaker does not have closed figures for the next four years, but announced the maintenance of the 500 company employees in the state of Ceará. The opening of new factories is not planned.

According to the president of Ford Brazil and Mercosur, Marcos Oliveira, this investment shows the company confidence in the economic stability of the country. In turn, the president of Ford South America and executive director for Canada and Mexico, Dominic Di Marco, stated that the good company profit in South America compensates the losses in the United States.

"Our greatest objective is to guarantee the continuation of our profitability in South America. This is the best form of helping solve the problems in North America. That cannot be done without investment."

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Spain Pitches In for Brazil’s Zero Hunger

The Spanish International Cooperation Agency is in the final phase of evaluating a project ...

To Brazil Honduras Seems to Be Doing Everything Right These Days

The Brazilian vice consul at the embassy in Tegucigalpa, Honduras, Francisca Francinete de Melo, ...

Short story

  Two friends and a bore   Os dois estavam tomando um cafezinho no ...

Foreign Tourists Spend US$ 1.5 Bi in Brazil While Brazilians Spend US$ 1.7 Bi Overseas

Foreign tourists spent US$ 1.5 billion from January to April this year in Brazil, ...

Brazilian Army Caves in to Favela’s Drug Dealers

The Brazilian Army withdrew Monday, March 13, from several Rio de Janeiro favelas (shantytowns) ...

Worries About Halt on Rate Cuts Lower Brazilian Shares

Brazilian shares moved lower Tuesday, June 20, amid uncertainty over domestic and overseas monetary ...

To Protect Domestic Production China Bars Beef and Pork from Brazil

The Brazilian embassy in Beijing informed Brazil’s Ministry of Agriculture’s Department of International Relations that the ...

Brazil’s Supreme Wants to Have a Final Word on US Boy Sean Goldman’s Case

Two years after generating headlines in Brazil and the United States the case of ...

Brazil Central Bank Expecting Bad News on Inflation Front

The Monetary Policy Committee (Copom) of Brazil’s Central Bank (BC) is less optimistic than ...

Brazil and Neighbors Look for Cultural Integration

The Mercosur is of decisive importance for the future of all the countries in ...