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MarketScreener Homepage  >  Equities  >  SHANGHAI STOCK EXCHANGE  >  Beiqi Foton Motor Company Limited    600166   CNE000000WC6

BEIQI FOTON MOTOR COMPANY LIMITED

(600166)
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Beiqi Foton Motor : China's Foton considers acquisition of a Ford plant in Brazil - newspaper

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04/12/2019 | 08:13am EDT

SAO PAULO (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)

Stocks mentioned in the article
ChangeLast1st jan.
BEIQI FOTON MOTOR COMPANY LIMITED -1.74% 2.83 End-of-day quote.58.24%
FORD MOTOR COMPANY 1.50% 9.5 Delayed Quote.24.18%
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Managers
NameTitle
Yue Qiong Gong General Manager, CFO & Deputy GM
He Yi Xu Chairman
Jing Guang Zhao Chairman-Supervisory Board
Xi Yong Zhang Vice Chairman
Yuan Xian Shang Director
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BEIQI FOTON MOTOR COMPANY LIMITED58.24%2 872
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