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Iochpe mulls wheel plant in China or India
(Bloomberg)
Updated: 2006-03-15 10:25
Iochpe-Maxion SA, Brazil's largest maker of railroad freight cars, said it
may build a plant in either China or India to produce truck wheels at a lower
cost.
Daniel Ioschpe, president of the company, said the company expects to
complete studies on the plant by year-end to the make a final decision. The
plant would supply Asian markets, he said.
"The plant would be a manufacturing center with cheaper costs and it would be
more attractive when compared with Brazil and other markets," said Ioschpe in an
interview in Sao Paulo. "The appreciating currency is making production abroad
more attractive."
Brazil's real has jumped 28 percent in the past 12 months against the dollar,
the best performance against the dollar among the 61 currencies tracked by
Bloomberg. The stronger currency is increasing production costs in Brazil.
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