10/28/2008 08h24
Capitalized companies keep investments
Valor Econômico 10/28/2008
The world financial crisis has worsened strongly in the last weeks, but many companies have not had their business affected by the turbulence yet. In an event promoted by the Brazilian Institute of Finances Executives (Ibef) yesterday, in Campinas (SP), many companies reported to Valor that they have not noticed any reduction of their demand, and there were those who said that the moment is good to buy assets, which have become cheaper in US dollar due to the exchange devaluation. Besides that, companies that have money in cash or that only operate with their own funds were able to remain unaffected by the credit contraction. For 2009, however, there is much caution, which is translated in more modest expectations of sales and in some moderation in the investment rhythm. Dump bodies and containers manufacture Embark has not seen its business worsen in the last weeks. According to the managing-partner of the company Saulo Duarte Pinto Jr., the company has a good backlog until the beginning of next year, having even closed an important contract with a big company 15 days ago. Since the crisis worsened, Pinto has not had to make bank loans, so the turbulence has not affected its business yet. "My fear is what is going to happen after the beginning of next year", he affirms. Actaris' president for Latin America, Fernando Perches, says that the company, producer of electric energy, water and gas measuring instruments, has not been affected by the crisis yet. Since it only works with its own funds, the worsening in the credit conditions has not caused any problems. Like Pinto Jr., however, Perches shows caution for 2009. The company, in the stage of definition of the strategic planning for the next year, it may reduce non-strategic investments, he affirms. Dell's financial director, Hans Lochs, says that the company has not reviewed its investment plans for 2009, in spite of the world crisis. According to Lochs, the demand for corporate and individual clients has not reduced, at least for now. The high of the US dollar rate affected the company, which has nearly 90% of its costs directly or indirectly quoted in US dollar. In CPFL Energia, the crisis has not taken the company to review its investment plans yet, according to financial vice-president José Antonio de Almeida Filippo. According to Filippo, CPFL's projects have a long term horizon and have financings of the BNDES. Up to the moment, the industrial and home energy consumption was not affected, he affirms, however emphasizing that the climate among businesspeople is of "caution".
