Business Services Industry
Brazil: possible merger among consumer electronics firms.
South American Business Information, February, 2000
BNDES sources confirmed last Friday that consumer electronics companies Sharp, CCE and Gradiente are analyzing the possibility of a merger, creating the largest firm in Brazil. Together, the 3 companies generated sales of R$2.062bil in 1998. In 1999, consumer electronics sales fell 30%, according to the industry association Eletros. Television set sales fell from 8.5mil units in 1996 to 4.2mil ones last year. At present Sharp's debts amount to R$613mil, while CCE's amount to R$360.9mil and Gradiente's totaled R$344mil in September, 1999.
Copyright (c) 2000, SABI, all rights reserved.
Source: Gazeta Mercantil Page: A-8 Date: January 31, 2000 Country: Brazil Product: Consumer Electronics Company: Sharp Event: Mergers and Acquisitions SABI (South...
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