Dialight expands into Brazil through joint venture
FTSE 250-listed lighting provider Dialight has reported that it has established Dialight Brasil Participacoes(Dialight Brasil), a joint venture with Laércio Pereira.
FTSE 250-listed lighting provider Dialight has reported that it has established Dialight Brasil Participacoes(Dialight Brasil), a joint venture with Larcio Pereira.
The group, which already operates in the UK, US, Denmark, Germany and Mexico, reported that Dialight Brasil would be responsible for the promotion and sale of Dialight industrial and hazardous area lighting products in the Mercosul region of Latin America.
Pereira, who is a Brazilian citizen, will join Dialight as Chief Executive Officer of Dialight Brasil with a 25% stake in the company.
The group reported that it would also add an assembly plant in Brazil in the second half of 2013 and the company said that it expects to include local content to the fixtures manufactured in Brazil in order to provide an additional benefit to companies that need to comply with related local regulations.
Roy Burton, Group Chief Executive Officer of Dialight Brasil, commented: "The new local presence in Brazil paves the way for Dialight to penetrate new key market opportunities in Brazil's expanding oil, gas and petrochemical industries. It brings us closer to our growing customer base in South America, while growing our global presence."
Larcio Pereira, Chief Executive Officer of Dialight Brasil, said: "It is an exciting time for LED lighting in Brasil and Dialight is well positioned to supply its industry leading fixtures in the most demanding environments."
Dialight's share price was up 0.72% to 1,255p at 09:12 on Thursday.