Invensys opens new unit in Brazil
Valor Econômico 09/22/10
The English Invensys installed a new business unit in Brazil and it expects to double in size within five years. The company operates in the country since the 50s with the divisions of products for industrial automation and household appliances. In January, it set up in São Paulo the Invensys Rail Division, focused on the providing of software for signaling, communication and control systems and rendering of services for the railroad and subway sector. The company does not inform the value invested in the unit.The operation in Brazil represents 5% of the global revenues of € 2.7 billion of the company in the tax year of 2010. The CEO of Invensys, Ulf Henriksson, estimates the earnings in Brazil shall grow 20% this year, compared to a global growth of 7% to 8%. "The subway and railroad sector should triple or quadruple over the next ten years, depending on the demand for infrastructure for the 2014 FIFA World Cup and the 2016 Summer Olympics", says Henriksson.
At the end of 2009, Invensys Rail, in partnership with the Spanish Infoglobal and Brazilian MEP Montagens e Projetos Especiais, landed a € 280 million contract to modernize the signaling and control of the lines of São Paulo Metropolitan Train Company (CPTM, or Companhia Paulista de Trens Metropolitanos ). The company has also closed a € 59.6 million contract with Petrobras to provide automation systems for the Abreu e Lima refinery, in Ipojuca (PE).