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Article: Brasmotor improves operating performance.
- Article from:
- South American Business Information
- Article date:
- February 7, 2003
CopyrightCOPYRIGHT 2003 COMTEX News Network, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Brazil, Feb 6, 2003 (O Estado de Sao Paulo/SABI via COMTEX)
The operating profit of the US Whirlpool in Latin America, where the multinational controls the Brazilian group Brasmotor, owner of Multibras and Embraco, increased 11,4% in Q4 2002 (Oct-Dec) in comparison with the same period in 2001, totaling US$44mil. The net sales dropped 12,4% over the period, from US$360mil to US$316mil. The Latin America subsidiary had an operating result of US$107mil in 2002, 20% lower than the amount posted in 2001. The group's sales decreased 15%, from US$1.5bil in 2001 to US$1.26bil in 2002, due to the US dollar valuation. Multibras produces the refrigerators and air ...