Leading Argentine confectioner Arcor has outlined plans to expand in Brazil.
The company’s Brazilian subsidiary already accounts for a quarter of Arcor’s global sales, which reached US$1.3bn in 2005, but senior management are hoping to see business in Brazil grow by an average of 15% a year.
In 2005 the Brazilian unit’s revenues reached BRL750m (US$353m), up 20% year-on-year, and this year revenues are estimated to reach BRL$900m, Gazeta Mercantil reported.
Global chairman Luis Pagani said he primarily expects to grow operations in the north-east of Brazil, where several other multinational companies are already active. First fruits of this strategy will be seen in November, when Arcor will open a plant with projected output of 14,000 tonnes of sugar confectionery a year.