First publishedon www.AggBusiness.com
JCB Chairman Lord Bamford (right) welcomes the Governor of the State of São Paulo, João Doria, to JCB's World HQ
has announced a US$25 million investment in its Brazilian operations as the company gears up for growth.
The investment was confirmed as JCB yesterday hosted the Governor of the State of São Paulo, João Doria at the company’s World HQ in Staffordshire.
Sorocaba, São Paulo has been the home to JCB’s Brazilian production operations since 2001. In 2012 the company invested $100 million in a new factory in the city, which was opened by Prime Minister David Cameron. The latest $25 million investment will see the launch of new products for Brazil and neighbouring South American markets.
During his visit to JCB, Governor Doria met JCB Chairman Lord Bamford and JCB CEO Graeme Macdonald.
Graeme Macdonald said: “We have a world-class production facility in Brazil and the investment announced today underlines our commint to this important market and enables us to seize all the opportunities for growth which lie ahead of us. The Brazilian market is in very good shape and has grown substantially over the past 18 months and continues to expand. There are some very exciting opportunities ahead.