JCB announces $25m Brazilian investment
July 10, 2019 – JCB is to invest US$25m (£20m) in its Brazilian operations as the company gears up for growth there.
The investment was confirmed as JCB 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 US$100m in a new factory in the city. The latest US$25m investment will see the launch of new products for Brazil and neighbouring South American markets.
During his visit to JCB, Doria met JCB chairman Lord Bamford and JCB CEO Graeme Macdonald.
Macdonald said: “We have a world-class production facility in Brazil and the investment announced today underlines our commitment 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.”