Lindal Group to start contruction of $25mn landmark facility in Brazil

Global aerosol dispensing company, LINDAL Group has held a ground-breaking ceremony marking the start of construction for its $25m landmark facility in Brazil, a project which represents the company’s largest investment to date.  Work began at the Industrial Park in Jundiai, SÃo Paulo where a formal gathering was attended by Mayor of Jundiai, Luiz Fernando Machado, and LINDAL representatives, including; CEO Francois-Xavier Gilbert, and Managing Director of LINDAL Brazil, Moacir Camargo.

Source: Futures Trading.Charts

Brazilian soybean exports could hit 9 million mt in February, up 80% on year: Conab

Brazil is the world’s largest soybean producer and exporter. According to agricultural consultancy AgRural, Brazil’s soybean harvest reached 21% of the projected area of 36.4 million ha in the 2019-20 crop year (September-August) as of February 13, up 5 percentage points week on week on favorable weather in the key producing states of Mato Grosso, Goias and Mato Grosso do Sul.

Source: S&P Global

Huawei role in Brazil 5G up to national security chief, Anatel

The Brazilian telecoms regulator (Anatel) preparing to auction bandwidth for fifth-generation (5G) mobile data at the end of this year said any decision on the security risks of using Chinese technology will ultimately be taken by the president’s national security adviser. Anatel approved the rules for the auction published by the government last week and opened a public review. If confirmed, it will be the world’s largest 5G spectrum auction to date. Huawei is expected to play a big role in deploying 5G networks in Latin America despite U.S. efforts to block that growth.

Source: The New York Times

Brazil oil workers clash with Petrobras in 18-day strike

Brazilian oil workers and oil giant Petrobras are locked in a power struggle over plans to shift focus away from non-core assets, with a federation of unions saying that 21,000 employees in 13 states (60% of the company’s workforce) are on strike indefinitely. Petrobras did not confirm those numbers but said it has been able to maintain oil and gas production levels and meet fuel demand across the country by bringing in temporary workers on emergency contracts. The strike, supported by leftist political groups, was called after a recent layoffs at a fertiliser factory in the state of Parana.

Source: The Washington Post

Telefonica Brasil’s Q4 profit down 14.3% by taxes, depreciation costs

Brazil’s largest wireless carrier Telefonica Brasil SA reported on Wednesday R$1.274 billion ($293 million) Q4 net income, down 14.3% year-on-year, as taxes and depreciation costs overshadowed an improved operating performance. The subsidiary of Spain’s Telefónica SA, which in Brazil operates under the brand Vivo, said earnings before interest, taxes, depreciation and amortisation, a gauge of Vivo’s operating performance also known as EBITDA, rose by 22.8% in Q4 to R$4.967 billion.

Source: Reuters

JBS to buy Empire Packing Company facilities in the U.S

Brazil meatpacker JBS (JBSS3.SA) said in a securities filing Tuesday that it has agreed to acquire five case ready production facilities from Empire Packing Company, as well as the Ledbetter brand for $238 million. The facilities are located in the United States and the transaction still requires regulatory approval.

Source: Reuters