Latin America sales for Emerson are growing swiftly thanks to markets like Brazil, Colombia and Peru.
BY JOACHIM BAMRUD
U.S.-based energy and technology conglomerate Emerson is growing strongly in Latin America.
It is scheduled to release its fiscal year 2008 results in November, but results for its first three fiscal quarters show a 15 percent increase in Latin America revenues. That was better than the company total of 12 percent. In the sub-segment of process management, Latin America sales increased by 23 percent, which was the highest growth anywhere worldwide and better than the company total of 18 percent. The strong results this year come after it boosted Latin America revenues last year by 21 percent to $1 billion.
"This is an excellent time to be in Latin America," says Leo Rodriguez, Emersons Latin America president.
Last week, it announced a contract to supply Venezuelan state oil company PDVSA, Latin Americas second-largest company, to install wireless technology in the Morichal District oil fields. The multimillion dollar orders include monitoring of over 180 wells by more than 600 Emerson devices in a self-organizing wireless network.
"Venezuela -- despite everything we read about it -- is a very strong market and important market," Rodriguez says. "Were proud to work with PDSVA. They have always been an early adopter of technology."
But its Brazil, Colombia and Peru that are the hot spots in Latin America these days, he says. Brazil, which accounts for most of the strong growth...
Keywords: Brazil, Felipe Calderon, Chile, Colombia, Human Resources, Mexico, Peru