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Voith Supports the MDIC's Proposal on Local Content Requirements for Equipment Purchases by Electric Utility Companies - Voith supports the initiative of the Ministry of Development, Industry and Foreign Trade (MDIC) on local content requirements for equipment purchases by electric utility companies in Brazil - Voith.com
Voith Supports the MDIC's Proposal on Local Content Requirements for Equipment Purchases by Electric Utility Companies

 

PRZOOM - /newswire/ - Heidenheim, Baden-Wuerttemberg, Germany, 2013/11/18 - Voith supports the initiative of the Ministry of Development, Industry and Foreign Trade (MDIC) on local content requirements for equipment purchases by electric utility companies in Brazil - Voith.com. FSE: VO2A

   
 
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As a Germanrooted company active in the technology segment, Voith regards the government's proposal as an important step for the industry, and considers itself to be well-prepared to comply with the requirements from this initiative, since local rootedness is a key issue for its market success.

The company, which will celebrate its 50th anniversary in Brazil in 2014, expects to increase its local activities even further as a consequence of this initiative from the MDIC. With some 5,700 Brazilian employees working with Voith Brazil, the company is fully localized in the country, which is one of its key markets.

To illustrate its strategies for investing locally, a recent example is Voith’s investment to open a new production line in its unit in São Paulo, which will now be capable of manufacturing Vorecon variable-speed planetary gears equipment used to control the speed of electric compressors employed in offshore oil extraction processes.

Voith is delivering for instance Vorecon variable-speed planetary gears to the Brazilian oil and gas industry. Last year, the company secured a contract with Petrobras to supply 60 Vorecons for offshore production in the oil fields of the huge pre-salt cluster in the Atlantic, approximately 300 km outside Rio de Janeiro. With the new production line, Voith will be not only be able to comply with local content laws, but will also strengthen its position in the growing oil and gas markets in Brazil.

Voith Brazil is also a worldwide reference regarding Research and Development within the Voith Group. Our Tissue Innovation Center in São Paulo is responsible for developing the latest technologies for sanitary paper manufacturing and pulp drying, which have been exported to the paper industry worldwide.

Voith (voith.com) sets standards in the markets energy, oil & gas, paper, raw materials and transport & automotive. Founded in 1867, Voith employs almost more than 40,000 people, generates €5.6 billion in sales, operates in over 50 countries around the world and is today one of the biggest family-owned companies in Europe.

 
 
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Voith Supports the MDIC's Proposal on Local Content Requirements for Equipment Purchases by Electric Utility Companies

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Voith AG | MDIC
Contact: Markus Woehl - Voith.com 
+49(0) 7321 37 2219 markus.woehl[.]voith.com
 
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IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Voith GmbH securities in any jurisdiction including any other companies listed or named in this release.

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