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Brazil's Ford to pay $64 mln to settle Rio Grande do Sul claim

SAO PAULO Nov 29 The local unit of Ford Motor Co will pay almost 217 million reais ($63.8 million) to Brazil's state of Rio Grande do Sul after the parties reached a settlement regarding a law suit, newspaper Folha de S. Paulo reported on Tuesday.

According to the report, the claim was related to Ford's cancellation, in 1999, of a project to build a manufacturing facility in Brazil's southernmost state. Instead, Ford decided to build the factory in the state of Bahia.

Cash-strapped Rio Grande do Sul will use the money to help pay state employees, Folha reported.

($1 = 3.4009 reais) (Reporting by Ana Mano; Editing by Mark Potter)

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