Business Services Industry
Brazil: Siemens to increase exports.
South American Business Information, August, 1999
Siemens is focused to grow exports from the US$130mil expected for 1999 to US$200mil in 2000. Mr. Herman Wever, chairman of the Brazilian subsidiary, said that exports are resuming after the devaluation of the Real currency. Previously exports were hindered by the overvaluation of the Real, but now Siemens' products have competitive prices, and is exploring new markets. For instance, the company stroke a deal to sellUS$13mil worth of electric energy transformers to the US market.
Source: Jornal do Comercio Page: a21 Date: August 27, 1999 Country: Brazil Product: Electrical Equipment Company: Siemens Event: Exports SABI (South American Business Information)
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