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News

UK construction vehicle component manufacturer spots big Brazilian opportunity

TMAT : 13 February, 2013  (Company News)
TMAT- the manufacturer of acoustic components for tractors and excavators is putting plans in place to open a factory in Brazil.
UK construction vehicle component manufacturer spots big Brazilian opportunity

With Brazil due to host both the 2014 Football World Cup and the 2016 Olympics, SOBRATEMA (the Brazilian Association of Technology for Equipment and Maintenance) states that Brazil aims to complete 12,265 infrastructure projects by 2016. The events represent a once in a generation opportunity for Latin America’s biggest economy to show it can execute large projects, as the government seeks to roll out an ambitious plan to invest R$955bn (£306bn/$470bn) in new roads, ports, airports and power plants, with the participation of foreign investors.

Tractors and excavation equipment will clearly play a key role in this extensive infrastructure and construction activity. The Brazilian government is keen to see that product is sourced locally rather than shipped in from abroad,creating the opportunity for a foreign investor like TMAT to open a factory in the country.

Jason Lippitt, Managing Director of TMAT, said: “The existing customers and other OEMSs (original equipment manufacturers) we’ve spoken to about our plans have been very excited indeed, in light not only of the opportunities in Brazil but also of the red tape they have encountered when trying to do business there. We’ve had a very positive initial meeting with DTI (Department of Trade and Industry). The next stage will be for me to head out to Brazil in March for exploratory meetings.All being well, we should be able to move ahead at the end of the first quarter. We will be retaining all engineering design and intellectual property at our Chesterfield site, and the Brazil opportunity could well create more UK jobs as our work in Brazil generates more demand upon specialist engineering resources.”

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