Lenovo Eyes Brazil Acquisition, Plans To Set Up Local Shop In The Country

Posted on May 28 2012 - 10:58am by Editorial Staff

Lenovo which last week announced its fourth quarter results with consolidated sales increased by 54 percent to $7.5 billion, now eyeing on Brazil with plans to set up a permanent shop in the country. Having a permanent hold in Brazil, would result in to lower import costs and produce PCs locally, Lenovo’s Asia-Pacific and Latin America president, Milko Van Duijl, told Dow Jones in an interview.

Van Duijl said in regards to acquisitions: “We are interested in buying or working with all the players, though we are not singling out any one of them.” He also said that the company cannot be competitive in Brazil without a local manufacturing base. “When you have to add (taxes) to your cost in a PC business where margins are very small, there is no chance in life to be successful.”

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