SAO PAULO, Oct 26 (Reuters) - Brazilian motor maker WEG does not expect its capital expenditure (capex) to be reduced in 2024 from this year, an executive said on Thursday, noting that positive forecasts for demand should help the firm keep investments up.

"Towards the end of the year we'll be able to detail how the company plans to allocate capital to grow," Chief Financial Officer Andre Rodrigues said in a call with analysts. "But we are concluding our budget plans and do not foresee a capex reduction."

The motor maker had previously said it expected capex this year to reach 1.6 billion reais ($319.73 million).

WEG, which recently agreed to acquire Regan Rexnord's motors and generators businesses in a $400 million deal, reported third-quarter results on Wednesday showing a slowdown in revenue growth that worried investors.

Shares of the firm tumbled more than 10% on Wednesday but pared some losses on Thursday, jumping more than 5% by midday trading, as it reiterated that despite the slower growth it does not have revenue reduction as its base case scenario for 2024.

According to WEG, the order backlog for its long-cycle products - which include those used in large-sized projects such as transmission lines and wind power - remains positive.

On the other hand, the firm said, there were some signs of deceleration in the backlog for its short-cycle business, which makes products used in smaller projects such as electronic components and solar power generation.

($1 = 5.0042 reais) (Reporting by Gabriel Araujo; Editing by Steven Grattan)