Forjas Taurus Falls 3.2% in Sao Paulo After Erasing Gain

Forjas Taurus SA (FJTA4), a Brazilian manufacturer of firearms, fell 3.2 percent to 1.84 reais at the close in Sao Paulo, after erasing an earlier gain of as much as 2.6 percent. The benchmark Bovespa index slid 1.7 percent.

Taurus said in a regulatory filing today that it received from the machinery company Renill Participacoes Ltda. a proposal to buy a facility in Gravatai, Rio Grande do Sul, owned by a subsidiary, Taurus Maquinas-Ferramenta Ltda.

The sale of the subsidiary was planned in May 2011 as part of the reorganization of Forjas Taurus, which is scheduled to be completed by September.

To contact the reporter on this story: Denyse Godoy in Sao Paulo at dgodoy2@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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