Revista Latin Trade articles from July 2006

Revista Latin Trade archives from July 2006

Cash flow.(EDITOR'S NOTE)(Brief article)
July 1, 2006... Pundits are a dime a dozen. Everybody has an opinion and, thanks to the Internet, anybody these days can express it. But one thing seems undeniable: Latin American companies are rolling in it. Every major stock index that tracks Latin...

Carlos Slim Domit.(COMPANIES)
July 1, 2006... CARLOS SLIM DOMIT, head of Mexican telecommunications company Telmex, bought for US$287.6 million a 2.8% stake in Univision, a U.S. Spanish-language broadcaster.

Copa.(TRAVEL)
July 1, 2006... COPA, a Panamanian airline, bought for US$180 million a new Boeing 737-800 airplane as well as three new 190-model aircraft from Embraer, a Brazilian aircraft manufacturer.

Andres Antonius.(CAREERS)
July 1, 2006... ANDRES ANTONIUS has been named president of consulting services for risk-consulting company Kroll. Once head of Latin American and Caribbean operations, he now reports to Kroll President and CEO Simon Freakley.

Panama.(LOGISTICS)
July 1, 2006... PANAMA will invest US$5.25 billion expanding the Panama Canal by building a new shipping lane. The project will double capacity and is subject to a referendum.

LT events.(INTELLIGENCE,Latin America)
July 1, 2006... LT Events Latin Trade poll of chief operating officers in Brazil, August 2005 What is your perception of political risk during the next 18 months? very high 10% high 40% medium 30% low 20% ...

Mexican connection.(PANORAMA)(Brief article)
July 1, 2006... The Mexican telecommunications sector is hitting on all cylinders as investments in the country close in on US$2 billion. Mexican telecom giant Telefonos de Mexico (Telmex), along with its wireless partner America Movil announced it would buy...

Pan American Silver.(ARGENTINA)
July 1, 2006... PAN AMERICAN SILVER, a Canadian mining company, said it would raise US$137.3 million in a share offering. Money raised will develop its Manantial Espejo silver project in Argentina.

Accion International.(ARGENTINA)
July 1, 2006... ACCION INTERNATIONAL, a U.S. non-profit organization that provides microfinance, and Banco Columbia, an Argentine bank, created Columbia Microcredito, which will provide financing for cash-strapped entrepreneurs in Argentina. Terms were not...

Banco Industrial e Comercial.(BRAZIL)
July 1, 2006... BANCO INDUSTRIAL E COMERCIAL, a Brazilian financial institution, raised US$120 million in a bond issue in U.S. markets. The notes will mature in 10 years and will finance growth plans.

TAM.(BRAZIL)
July 1, 2006... TAM, a Brazilian airline, raised US$732.1 million in a preferred stock issue. Foreign investors subscribed heavily to the issue.

Petrobras.(BRAZIL)
July 1, 2006... PETROBRAS, Brazil's state-run oil company, awarded a US$239 million contract to Sinopec, a Chinese state-owned engineering company, to build a natural gas pipeline. The project will connect with existing pipelines to better distribute natural...

PETROBRAS, Brazil's state-owned oil company, kicked off production at the P-50 rig, which will produce 180,000 barrels of oil a day.(BRAZIL)
July 1, 2006... PETROBRAS, Brazil's state-owned oil company, kicked off production at the P-50 rig, which will produce 180,000 barrels of oil a day. The rig and two others will make Brazil self-sufficient on its own oil production for the first time ever.

Gerdau.(BRAZIL)
July 1, 2006... GERDAU, a Brazilian steel giant, bought for US$76 million Sheffield Steel, a U.S steel producer. Gerdau in the deal assumed debt of $96 million held by Sheffield.

Lanxess.(BRAZIL)
July 1, 2006... LANXESS, a U.S.-German chemical company, will close plants in Brazil, the United States and Europe. The move will cut 250 jobs and save the company more than US$60 million over the next three years.

Henkel.(BRAZIL)
July 1, 2006... HENKEL, a German adhesives company, bought for an undisclosed sum Alba Adesivos, a Brazilian adhesives company, from Hexion Specialty Chemicals, of the United States. In 2005, Alba posted revenues of US$38 million.

Company.(BRAZIL)
July 1, 2006... COMPANY, a Brazilian developer, bought for US$26.8 million five pieces of land in Silo Paulo covering 46,433 square meters. Company will use money from a recent initial public offering to buy the land.

Mitsui.(BRAZIL)
July 1, 2006... MITSUI, a Japanese conglomerate, and Brazilian state-run oil company Petrobras will undertake research toward the viability of producing and selling ethanol abroad. Petrobras would be in charge of production and Mitsui would be responsible for...

Gol Linhas Aereas Inteligentes.(BRAZIL)
July 1, 2006... GOL LINHAS AEREAS INTELIGENTES, a Brazilian low-cost airline, issued a perpetual bond, a financial instrument that carries no maturity date and pays coupons forever. The company did not say how much it expected to take in from the issue but...

Embraer.(BRAZIL)
July 1, 2006... EMBRAER, a Brazilian aircraft manufacturer, opened a 7,250 square meter maintenance facility in Nashville, Tennessee. The company did not disclose terms but said the project will create 150 jobs.

EBX.(BRAZIL)
July 1, 2006... EBX, a Brazilian steel company, said the Bolivian government ordered it out of the country over disputes concerning an environmental impact study. The company said it tried to comply with Bolivian requisites and would look to invest elsewhere.

Lone Star Technologies.(BRAZIL)
July 1, 2006... LONE STAR TECHNOLOGIES, a U.S. pipe and tubing company, signed a marketing agreement to be the sole U.S. distributor for Apolo Tubos e Equipamentos, a Brazilian steel company. Terms were not disclosed.

NAI Global.(CHILE)
July 1, 2006... NAI GLOBAL, a U.S. commercial real estate firm, has begun offering property valuation services in Chile. The company signed an agreement with businessman Jaime Sarra to create NAI Sarra. Financial terms were not disclosed.

Wells Fargo.(CHILE,Wells Fargo & Co.)(Brief article)
July 1, 2006... WELLS FARGO, a U.S. financial institution, will accept Colombian consular cards as valid identification documents needed to open a bank account in the United States. Applicants must also have either a social security number or an individual...

Argosy Energy.(CHILE)
July 1, 2006... ARGOSY ENERGY, a U.S. oil and gas company operating in Colombia, said it would be acquired by Gran Tierra Energy, a Canadian energy company. Financial terms were not disclosed.

Ford Motor Credit De Mexico.(MEXICO)
July 1, 2006... FORD MOTOR CREDIT DE MEXICO, the Mexican unit of the U.S. auto-financing company, sold US$276.6 million in loan portfolios to an unidentified Mexican financial institution. Money raised will pay down debts.

Grupo Gigante.(MEXICO)
July 1, 2006... GRUPO GIGANTE, a Mexican grocery chain, raised US$260 million in an international bond issue. Money raised from the 10-year instruments will prepay debts.

Urbi.(MEXICO)
July 1, 2006... URBI, a Mexican homebuilder, raised US$150 million in a 10-year bond issue. The money will pay down debts and fund general corporate activities.

Calpine.(MEXICO,Calpine Corp.,Mitsui and Chubu)(Brief article)
July 1, 2006... CALPINE, a U.S. energy company, agreed to sell for US$43 million its 45% stake in Valladolid II, a Mexican power plant currently under construction, to partners Mitsui and Chubu, both of Japan. Calpine also said it would close 20 other plants,...

Global Industries.(MEXICO)
July 1, 2006... GLOBAL INDUSTRIES, a U.S. construction company catering to the energy sector, won a US$130 million contract to build a pipeline for Pemex, Mexico's state-owned oil company. The pipeline, to be completed in 2007, will be located in the Bay of...

ICA.(MEXICO)
July 1, 2006... ICA, a Mexican construction and engineering company, won US$120.1 million in four contracts to build a sports complex in Venezuela as well as an arts center in Mexico. The other two contracts include improvements to tunnel and railway projects....

Vitro.(MEXICO)
July 1, 2006... VITRO, a Mexican glass company, will sell for US$80 million its 51% stake in the Vitrocrisa manufacturing joint venture to partner Libbey, a U.S. glass company. Libbey now owns 100% of Vitrocrisa.

Gushers.(PANORAMA)(Brief article)
July 1, 2006... Despite the constant drumbeat of diplomatic and political contretemps between the governments of Venezuela and the United States, the oil business is moving ahead just the same. Harvest Natural Resources, a U.S. energy company, created a joint...

Vitro.(MEXICO)
July 1, 2006... VITRO, a Mexican glassmaker, wrapped up an acquisition of a 96% stake in Vidrios Panamenos, a Panamanian glass company. Terms were not disclosed.

Global Crossing.(MEXICO)
July 1, 2006... GLOBAL CROSSING, a U.S. telecommunications network company, will provide call-center services to Mexicana de Aviacion, a Mexican airline company, which will support U.S. reservation centers. Terms were not disclosed.

Standard Register.(MEXICO)
July 1, 2006... STANDARD REGISTER, a document services company, will open a 2,800 square-meter production and ser vice facility in Monterrey, Mexico. Terms were not disclosed.

Worldspan Rapid Reprice.(MEXICO)
July 1, 2006... WORLDSPAN RAPID REPRICE, a travel technology company, said Mexicana, a Mexican airline, has adopted its ticket re-pricing programs, which recommends ticket prices when travel itineraries change. Terms were not disclosed.

Steris.(MEXICO)
July 1, 2006... STERIS, a U.S. pharmaceutical company, will lease a manufacturing facility in Monterrey, Mexico from the Avante Group, a Mexican real estate company. Terms were not disclosed.

Duke Energy International.(PERU)
July 1, 2006... DUKE ENERGY INTERNATIONAL, a U.S. energy company, bought for US$31 million a 27.1% stake in Aguaytia, a Peruvian natural gas company, from El Paso Corporation and PPL, both U.S. energy companies. Duke now controls 64.9% of Aguaytia.

Impreglio.(VENEZUELA)
July 1, 2006... IMPREGLIO, an Italian development company, signed US$3.70 billion in contracts to build two new railroad lines in Venezuela as well as complete construction on a third. Construction is expected to begin before the end of June.

Alcatel.(REGIONAL)
July 1, 2006... ALCATEL, a French telecommunications equipment company, will merge with Lucent, a U.S. company of the same sector. The companies should report combined annual revenues of US$25 billion.

R&G Financial.(REGIONAL)
July 1, 2006... R&G FINANCIAL, a Puerto Bican financial institution, will sell US$150 million in preferred stock in U.S. markets. The company will also suspend dividend payments on common stock in an effort to update its financial statements for regulators.

Coming through.(PANORAMA)(Brief article)
July 1, 2006... The Panama Canal Authority says the country should invest US$5.25 billion to expand the Panama Canal by building a new shipping lane, pending Congressional review and a national referendum. The project would double capacity of the water route...

Unbanked.(10 YEARS AGO IN LATIN TRADE)(Brief article)
July 1, 2006... Peruvian consumers never would have dreamed of such a bevy of banking deals. The recent aggressive entry of a series of large foreign banks into Peru's financial sector has unleashed an unholy battle for the undeveloped retail market. But Peru...

Paving the way.(5 YEARS AGO IN LATIN TRADE,Yucatan,Mexico)(Brief article)
July 1, 2006... Yucatan has always been a defiant Mexican state, not unlike Texas in the United States. So renegade is the southeastern state, in fact, that it refers to itself as a "republic." But it is more than bravado that has carried it to economic good...

Plan B.(1 YEAR AGO IN LATIN TRADE)(Brief article)
July 1, 2006... Cellular telephony is driving drastic change, and it's beginning to take bigger bites in a market once controlled by companies like Empresa de Telecomunicaciones de Bogota (ETB). According to U.S. consultancy Pyramid Research, over the next...

Time is Money.(RADAR)(Brief article)
July 1, 2006... Talk is cheap, but even with deregulation of services like telecom--which Bolivia did in the 1990s--time spent chatting can ruin a family budget. Per capita annual income in the country adjusted for purchasing power is still around US$2,700....

Moving on up.(RADAR)(Brief article)
July 1, 2006... The Andes won't be the only thing towering over Santiago. Skyscrapers are coming. In three years, the US$400 million Costanera Center will open for business, hoping to be the tallest building in South America at 244 meters in height. Two blocks...

Poorer still.(RADAR,Latin Americans )(Statistical table)
July 1, 2006... A wide swathe of Latin Americans now live on less than US$2 per day, according to the World Bank. In Nicaragua, an astounding 80% of the population fails into this category. As the income divide in the region widens, it's no surprise that...

Crossing lines.(RADAR)(Brief article)
July 1, 2006... One of the biggest controversies facing the Bush administration concerns proposed legislation regulating illegal immigrants. The law would tighten up the Mexican border and might grant amnesty to the more than 11 million illegal immigrants....

Sing, sing a song.(RADAR)(Brief article)
July 1, 2006... If you are one of the 2 million shoppers, office workers and afternoon strollers who monthly amble the pedestrian thoroughfares of downtown Santiago, these days you hear music at every turn, light versions of well-known hits, like Homeward...

Tech Haven.(RADAR)(Brief article)
July 1, 2006... Chile continues to gain ground in its longtime position leading the region's most competitive economies. The South American country landed at the No. 27 spot on the World Economic Forum annual list, which tracks the competitiveness of 117...

The captain.(RADAR)(Interview)
July 1, 2006... As president of U.S. corporate database provider Oracle, Charles Phillips has his hands full. The former Morgan Stanley tech banker must help Oracle CEO Larry Ellison in the drive to absorb a rash of acquisitions valued at billions of dollars....

Clearing the air: Latin American governments are waking up to the cost of their citizens' smoking habit.(SILICON JACK)
July 1, 2006... Back in the days when I lived, and choked in, Latin America's megacities, I never dared to hope its ever-puffing citizens would take on the global tobacco industry. But today that's just what is happening. Brazil, the region's economic...

Market maker: Toyota looks for rapid growth in Mexico in its bid to become the planet's biggest car company.(AUTOS)
July 1, 2006... For the suits at Japanese auto giant Toyota, it's inconceivable that in Mexico, a country of 100 million people, auto sales are just 1 million vehicles a year. Convinced that the auto-buying public could increase considerably, Toyota has set to...

Live wires: Latin Americans living in Spain drive a big business in sending money home.(REMITTANCES)
July 1, 2006... An estimated 8% to 10% of Spain's current population of 44 million are immigrants, legal or illegal. Nearly half of those are Latin Americans, mainly Ecuadorans and Colombians. Cultural connections and a shared language have turned the European...

High and dry: not known for oilfields, Uruguay has become the darling of foreign energy companies.(OIL & GAS)
July 1, 2006... Uruguayans can't be blamed for feeling they are in the center of the oil business these days, considering the battle among oil giants raging in the region. Some are retreating from the market and others are rushing in, briefcases full of...

Top 500 companies in Latin America.(Statistical table)
July 1, 2006... Being big is the best kind of indicator: Lots of small companies are extremely well-run, but over time the ultimate test is growth, really big growth that puts a company on the map. So LATIN TRADE has returned to its annual exercise of...

Greased lightning: Casas Bahia aims low and sells fast to grow in Brazil's challenging retail space.(Ponto Frio)(Casas Bahia)(Wal-Mart Stores Inc.)
July 1, 2006... Priscila Oliveira Visconde, a 21-year-old housekeeper in Rio de Janeiro, is a typical Brazilian in many ways. She makes US$150 a month, complementing her husband's $500 monthly salary. She's also a loyal customer of Brazilian retailer Casas...

Power up: high-tech products need just the kinds of chemicals found in Chile's far north. SQM is there.(MINING)
July 1, 2006... Basking in the sun of Chile's Atacama Desert, lithium, iodine and nitrates producer SQM is sitting pretty. The world leader in its three core product lines, a major expansion plan under way and recovering prices contributed to record sales of...

Feeding the dragon: driven by Chinese demand, Chilean steel maker CAP shifts its business model.(STEEL,Compania de Aceros del Pacifico)
July 1, 2006... How hungry is China? Chilean steel company Compania de Aceros del Pacifico (CAP) says profits from steel, up nearly 50% in 2005 to US$187 million, could be surpassed in 2006 by profits from iron ore. As much as the Chinese economy needs steel,...

Hello world: U.S. retail giant Wal-Mart leans heavily on Latin America for growth abroad.(RETAIL)
July 1, 2006... Brazilian homemaker Divina Guerra dos Santos is a key target for global retail giant Wal-Mart in its bid to drive growth outside of the United States. As she wanders the aisles of a Wal-Mart Todo Dia in Taboao da Serra near Sao Paulo her view...

Heavy duty: Ford in South America innovates its way to company-leading results.(AUTOS,Ford Motor Co. of South America)
July 1, 2006... Contrary to its U.S. parent company, which has been piling on bad results of late and living a walking nightmare of layoffs and lost market share, Ford in South America has reason to celebrate. Profits hit US$389 million in 2005, well over the...

Super bird: posting record profits, food giant Sadia nevertheless looks abroad to stretch its wings.(FOOD)
July 1, 2006... Brazilian food manufacturer Sadia had a good 2005. It posted net profits at a record US$281 million, a 50% increase from the year before. The company attributed its gains to cheaper supplies, improved operational efficiency and strong demand...

Tortilla king: Gruma, a heavyweight in the Mexican food world, shoots for growing Asian markets.(FOOD)
July 1, 2006... Mexican food is one of the most recognized cuisines in the world. So much so, Mexico is asking the United Nations to declare it a world heritage cuisine. And what would a Mexican kitchen be without tortillas--that flat, round bread made of corn...

Rooms with a view: Mexico's biggest hotel chain is looking across the region --and to a new airline--for growth.(HOTELS)
July 1, 2006... Thirty-six years ago, the now-deceased businessman Gaston Azcarraga Tamayo got into the hotel industry by opening a 20-floor hotel on one of Mexico City's main thoroughfares. Today, his son, Gaston Azcarraga Andrade, a second cousin to Televisa...

Running on empty: Colombia has to move fast to modernize its state-run oil sector.(OIL & GAS)
July 1, 2006... Declining oil reserves in Colombia is changing the way Ecopetrol, the country's largest company, does business. Until 2003, the state-run oil company, with revenues of US$6.79 billion, not only produced, transported, refined and sold oil and...

Mutual concession: a deal between Argentina's government and Spain's Telefonica opens the door to new investments.(TELECOM)
July 1, 2006... Spanish telecom giant Telefonica and the Argentine government have buried the hatchet and signed an agreement that will bring some relief to both sides in a long-running battle. The deal makes way for Telefonica to renew investing in the...

Not so anonymous: La Anonima, big in Argentina's rural areas, is on the move.(Supermarket chains)
July 1, 2006... In 1908, two small family-run companies merged to create Sociedad Anonima Importadoray Exportadora de la Patagonia (SAIEP). The new company got into general stores, farming and began its own shipping company. Nearly a century later, it controls...

Bedside manner: Philips, already a giant in consumer electronics, bets on healthcare in Latin America for growth.(HEALTHCARE)
July 1, 2006... Synonymous worldwide with television sets, videocassettes and light bulbs, Dutch electronics maker Philips decided a little more than five years ago to shift its focus in a bid to use its century of technological know-how in the healthcare...

Armor all: Brazil is fast becoming the world's garage for armored cars.(SECURITY)
July 1, 2006... Levels of violent crime in big cities, above all in the developing world, can be frightening. Constant fear of terrorist attacks in the United States, Europe and in the Middle East worry business executives. In Brazil, companies make money by...

IPOD: multimedia device.(Gear BOX)(Brief article)
July 1, 2006... IPOD Multimedia Device Price: US$399 www.apple.com * The Good The screen is crisp and clear. Sixty gigabytes of memory stores thousand of songs and photos and hundreds of videos * The Bad A little on the bulky...

Pipeline.(CONNECTION)(Brief article)
July 1, 2006... LENOVO THINKPAD X60S Notebook www.lenovo.com Highly portable with a fingerprint reader for security, wireless networking and long-life battery Just released SLING MEDIA SLINGBOX Media device www.slingmedia.com...

Eye in the sky: from cameras to Internet technology, Latin American ports go high-tech to tighten up security.(SECURITY)
July 1, 2006... Taking a cue from retailers, Latin American ports and airports are setting up their own video monitoring systems to improve security at loading bays. Prior to 2004, Brazilian port Santos, the largest port complex in Latin America, didn't have...

Flower power: young love and free trade keep the flowers moving through Miami International Airport.(AIRPORTS)
July 1, 2006... Many international travelers complain about long lines and bad service at Miami International Airport. Flowers, on the other hand, couldn't be happier. Almost all U.S.-bound flowers enter the country via Miami International Airport. And they're...

Shine on: Santiago, ever the odd city out, looks to become a business-travel magnet.(TOURISM)
July 1, 2006... Santiago doesn't have nearly the business concentration of a Sao Paulo or a Buenos Aires. It's not as close to major markets as Mexico City or any number of Caribbean destinations. It's as far away as any spot on the map and, as many a Chilean...

Virgin territory: Brazil exports the executive motel--rooms rented by the hour--to Spain.(HOTELS)
July 1, 2006... Thirty-seven years ago, Evaristo Gonzalez, a Spaniard who emigrated to Brazil from Galicia, decided to invest in what at the time was a novel business concept: the luxury motel. Three generations later, his grandson Celso Gonzalez is following...

Mountain high: travel tips from the top concierge at the Ritz-Carlton in Santiago.(ASK THE CONCIERGE)(Interview)
July 1, 2006... What's the best place for a business lunch or dinner in the city? It all depends on what kind of food you are looking for. In the hotel, we have two restaurants, Wine 365, which has an excellent wine selection, and Adra. In the area, there...

Garbage out.(knowledge of information technology executives)
July 1, 2006... Three information technology executives, experts from the SAS Institute, bring their combined knowledge to bear on the problems facing those in charge of taking and supporting decisions in their companies. First off, the authors maintain...

Where to retire, John Howells.(BRIEFCASE)
July 1, 2006... Advice on the most comfortable, interesting and cost-effective places to retire in the United States, as well as why people move when it comes time to end careers and relax. Includes advice on how to buy a retirement home according to different...

Nuclear power is not the answer, Helen Caldicott.(BRIEFCASE)
July 1, 2006... Politicians of late are fond of pointing to nuclear power as a "clean" energy source. The author disagrees, showing how nuclear energy contributes to global warming, is prohibitively expensive and that the world lacks sufficient uranium in any...

Economics of global turbulence, Robert Brenner.(BRIEFCASE)
July 1, 2006... A detailed look at the world economy in crisis, focusing on lack of manufacturing investment, growing dominance of finance capital, the shift from Keynesian subsidies to neoliberal austerity measures, and a degraded workforce.

Syriana (DVD).(BRIEFCASE)
July 1, 2006... A CIA agent heads off to kill an Arabian prince and instead becomes a target of his own agency when the mission fails. The movie explores the geopolitical complexities created by insatiably ambitious oil companies in the Middle East.

Banco Nacional de Desenvolvimento Economico e Social.(BRAZIL)
July 1, 2006... BANCO NACIONAL DE DESENVOLVIMENTO ECONOMICO E SOCIAL, Brazil's state-owned development bank, approved a US$212.7 million loan for Bahia Pulp, a Brazilian pulp company, to help expand a plant in Salvador, in northeastern Brazil. The project will...