The bidding started yesterday. The company closed down three factories last year. One remains in Manaus, where the government established a free-tax import zone years ago.
One of their factories was in SJC.
A principal factor was the decline of the dollar against the Brazilian Real, said one official. “When we closed the SJC factory, the rate was two to one and we already were not able to be competitive any longer in the international market,” he said (translation mine). With the rise of the Real that followed, the factory closing was then just a matter of time, he added.
The rise and fall of currencies may hurt businesses and change commercial and political strategies, but it should not deter the church of God from its mission to preach the gospel to the whole world.