Brazilian footwear giant expands
A Brazilian footwear giant has taken over an Argentinean rival and plans to go global, it has been reported.
Those considering buying property for sale in Brazil could be interested to hear the news which could suggest the Latin American nation is enjoying a period of economic resilience.
Alpargatas Sao Paulo, the producer of Havaianas footwear, has announced the takeover of Alpargatas Argentina following the acquisition of a 60.17 per cent stake in the Argentine firm, according to Mercopress.
Marcio Utsch, the firm’s chief executive officer, is quoted by the news agency as saying: "We have created a theatre of challenges and growth possibilities for our Brazilian and Argentine workers. This is a company rapidly becoming a player in the international field".
The new consolidated firm will have a workforce of 19,000, Mr Utsch added.
Alpargatas was founded in 1909 by an English group that was joined by Scotsman Robert Fraser.
The group built a factory and produced oilcloth and tarpaulins which were successful due to being useful for those picking coffee.
