White Martins continues investment programme

White Martins, Brazilian subsidiary of Us chemicals concern Praxair Inc., will not alter its BRL 250 million investment programme for 2002, said managing director Luiz Fernando Oliveira, adding that t…

White Martins, Brazilian subsidiary of Us chemicals concern Praxair Inc., will not alter its BRL 250 million investment programme for 2002, said managing director Luiz Fernando Oliveira, adding that the decision was not easy. “It is not easy to convince shareholders to invest with Brazil“s currency depreciation,” he said. In 2001, the company will invest BRL 230 million in Brazil and plans to end the year with revenue growth of 15% from last year“s BRL 1.6 billion. White Martins will shortly open its 35th factory in Brazil in Joinville, Santa Catarina state.