Business Services Industry
Brazil : LG Electronics reduces imports.
South American Business Information, January, 1999
LG Electronics has stepped up in Brazil in 1997 with a plan to produce locally electronic components for its products, and after the devaluation of the Real the company is protected against imports, in a position to offer competitive costs for its products to consumers. LG Electronics produces computer monitors in taubate, Sao Paulo state using 36% of parts produced locally, while video tape players produced in the free port of Manaus have 31% national parts. In less than two years operating in Brazil LG Electronics reached a US$211mil trurnover compared with US$142mil posted in 1997. Predictions for 1999 are to a 25% increase on netr sales, while it started construction of two plants to produce cellular equipment (US$10mil), and television tubes.
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