Brazil receives factories that operated in Argentina that left the country due to the industrial policy of the current president, Alberto Fernández
The migration of 3 giant multinational factories installed in Argentina to Brazil is not good news for the weakened economy of the neighboring country. At the end of last year, Bolsonaro reported that two multinationals would transfer their facilities to Brazil. The companies mentioned by the president are the giants Honda and L'Oréal.
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Although Argentina is not experiencing a crisis as serious as the one it faced between the 1990s and 2010s, the departure of companies that had already operated in the country for years is still a blow to employability.
The 3 multinationals are from the automotive sector and the allegation is that the initiative is due to the lack of economic conditions.
Last week, the operations of Basf and Axalta, in the field of paints and resins for cars, were transferred and now it was the turn of the French Saint-Gobain Sekurit, specialized in the manufacture of windshield glass, which will be incorporated into the Brazilian subsidiary.
Saint-Gobain's initiative comes after it was installed in 2016, with investments of US$200 million, in an agreement with the president at the time, Mauricio Macri. The multinational announced the dismissal of 150 employees.
the company note
In a note, the company stated that leaving the automotive glass manufacturing (OEM) segment is for the company's sustainability and that it will continue with operations in Argentina, maintaining assets in the country in anticipation of a market recovery.
The company's note also says that: “The company remains active in the country, serving the aftermarket. In addition, part of the volumes produced for the OEM market in Argentina were temporarily transferred to Brazil.
Sekurit guarantees the continuity of operations in Argentina, maintaining the activities of the unit located in Tortuguitas, as well as its commitment to the local market”.
