Machinery companies aiming to expand in Brazil
Aug. 5, 1998 Siemens will compete in Brazil for a $ 5 bn-worth oil & gas machinery market over the next 6 years. It aims to hold a 10 % share of that market, which will help it double the revenues of its oil & gas division as of 1999. The company's goal is to raise its revenues from $ 40 mm last year to $ 500 mm per year over a 6-year term.
ABB's Brazilian subsidiary forecasts a $ 130 mm oil machinery turnover for 1998, a 25 % increase compared with last year. The company invested $ 20 mm to expand its oil machinery facilities. It supplies Petrobras both in Brazil and abroad, and holds a 35 % market share.
Cooper Cameron will inaugurate its Sao Paulo-based plant next September. It invested $ 30 mm in the plant and plans to invest $ 10 mm more to expand its facilities. It predicts to sell 5 christmas trees this year, and to deliver 1 unit per month as of 1999.
