Brazil’s CAOA in talks to buy Ford factory

Brazil’s CAOA in talks to buy Ford factory Brazilian automaker CAOA, which produces vehicles with Korea’s Hyundai Motor and China’s Chery Automobile Co, is in talks to buy a Ford Motor Co plant in the country that is slated to close by 2019, according to a source with direct knowledge of the matter. Ford announced earlier this month that it would shut down its São Bernardo do Campo plant, a sprawling complex in a suburb of São Paulo that employs some 3,000 people. Reuters reports. Moody’s sees a “trilemma” for Mexico’s credit rating The Mexican government faces tough choices if it wants to honor promises to ramp up social spending and rescue state oil firm Petróleos Mexicanos, or Pemex, while […]

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