Company Pioneer Brazil, a manufacturer of audio equipment for automobiles, will invest US$ 12.7 million in the construction of proprietary premises in the northern Brazilian capital Manaus.
The 14,000 square-meter building will be located in the Torquato Tapajós avenue. Construction work should begin next May and conclusion is forecasted for December.
The company currently produces 500,000 units per year, in leased premises, and intends to increase the production volume to one million units with the new investment. A total of 300 people work for the company in Manaus.
The Manaus unit is Pioneer's only factory in Latin America. According to the local managers, production still does not fully cater to the domestic market demand.
After the investment, the company aims at supplying Latin American countries such as Venezuela and Argentina. Established since March 2004 in Manaus, Pioneer Brazil is the leading manufacturer of automobile audio equipment in the country.
Brazil is the seventh main global destination for events. The country received 207 international meetings last year and thus guaranteed a place in the ranking by the International Congress and Convention Association (ICCA), the main international association in the sector.
The report reveals that Brazil rose four positions when compared to 2005, when it was the 11th with 145 meetings. Brazil is also the best known among all of the Latin American countries, and the second best in the Americas, losing only to the United States.