Business Services Industry
Brazil: Ericsson increases exports.
South American Business Information, December, 1999
The Brazilian subsidiary of Ericsson should end 1999 with exports for US$160mil 33% up than the 1998 exports, as it pursued a strategy to tap the Latin American markets. Ericsson reports from January - September 1999 a net income of R$2bil, figure higher than the whole 1998 period (R$1.4bil). Over the last three years Ericsson has invested US$1.8bil, of which US$840mil to take over Ericsson Telecomunicacoes, with US$830mil granted as direct credit to Brazilian telecom operators with which it has telecoms equipment contracts. Plant setting up and expansion absorbed US$100mil. The cellular telephone equipment unit at S=E3o Jose dos Campos, S=E3o Paulo state was expanded from 2.8mil to 3.5mil nits py. In 1999 Ericsson invested R$40mil in production capacity...
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