FRANKFURT (AP) -- Mercedes-Benz do Brasil, a unit of Germany's Daimler AG, says it will expand its Sao Bernardo do Campo truck and bus plant and increase production there through a loan of about 1.2 billion Brazilian Real ($670 million) from the state-owned Brazilian Development Bank BNDES.
Daimler said Friday it will use the loan to expand capacity about 15 percent to 75,000 vehicles annually as well as to optimize production and infrastructure and to invest in research and development.
Daimler says it has hired about 1,400 workers to meet the production increase. The Sao Bernardo do Campo plant near Sao Paulo is Daimler's biggest truck plant outside Germany.
