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Staffordshire-based manufacturer JCB has opened a £63m factory in Sorocaba, Brazil. Chairman Sir Anthony Bamford has said that the expansion into Brazil will not threaten jobs in the UK and will benefit the UK economy as parts of the product are made as components in the UK and shipped to Brazil.
The factory in Sorocaba will eventually produce 10,000 machines a year and the expansion into South America will also help JCB's export profile. "In terms of their marketing and brand management the company will have a truly global reach," said Ian Jackson, from Staffordshire University Business School.
Sir Anthony said: "We've been in Brazil for 10 years and our market has grown from 100 machines a year to 3,000 machines this year, so we outgrew our previous small plant in that time." As Brazil is now a top six economy, the visit will help safeguard and create around 3,000 jobs in the UK.
Read the article here: JCB's Brazil plant 'will benefit West Midlands' economy'
on 10 October 2012