Ford Motors Company's President for South America Dominic DiMarco announced on Thursday that the company plans to invest 2.2 billion reais (1 billion U.S. dollars) in Brazil in the 2007-2011 period.

These investments in Brazil showed the company's trust in the country, which has experienced a period of stability and economic growth, said DiMarco in a meeting with Brazilian President Luiz Inacio Lula da Silva.

Besides, they clearly state our intentions to keep a strong level of competitiveness in the domestic market, as well as in the foreign market, DiMarco added.

In a press statement, the company informed that the new investments will be added to the 300 million reais (140 million U.S. dollars) that was announced in 2006.

The previous amount was destined to the development of a new product in the Sao Bernardo do Campo industrial district, in Sao Paulo's metropolitan region.

Ford Motors also announced the acquisition of the company Troller, a Brazilian manufacturer of off-road vehicles that runs a production unit in Ceara, in the Northeast of the country.

The U.S.-headquartered giant stated that it intends to strengthen its presence in the region by expanding its portfolio with new brands for the segment of lightweight off-road vehicles.

Source: Xinhua