A new equipment factory was opened in Uberaba, Triângulo Mineiro, March 13. With an investment of US$ 50 million, it created about 70 direct jobs in its first year.
The 96,000-square-meter facility focuses on developing, manufacturing, and providing technical support for coffee harvesters, corn seed equipment, and other agricultural machinery. It will also supply equipment for harvesting acerola, peas, and green corn in Brazil.
Negotiations with the local government for the establishment of the factory began in 2021, and includes tax incentives, financing options, infrastructure, and available industrial spaces.
Source: M&T Read The Article
PSR Analysis. The local production will allow OXBO to penetrate the coffee harvesters, seeders and special cultivating equipment Brazilian market, one of the most important, growing and highly technological markets in the world. To get special low interest rates and public funding lines for farmers, OXBO will have to develop a local supply chain that will provide opportunities for local suppliers. PSR
Fabio Ferraresi is Director, Business Development, South America, for Power Systems Research
