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At Fábio Marangoni’s printing works
in São Paulo, pages of glossy
magazines emerge almost silently
from modern printing presses
imported from Germany.
Asked how much he borrowed to
install the presses, Mr Marangoni
replies with an air of
self-satisfaction.
“Nothing,” he says. “We used our own
capital.” His family-owned business
will be 50 years old next year.
“During that time we’ve seen the
currency go wildly up and down. Our
raw materials and machinery are
priced in dollars, so we’ve always
taken care to use our own money. It
means we have grown more slowly than
otherwise. But it’s worth it. Look
what’s happening now.”
By Jonathan Wheatley in São Paulo
Published: October 15 2008 00:04
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SAO PAULO, Oct 7 (Reuters) -
Brazil's fertilizer industry that benefited
from a sharp rise in demand over the past
year has lowered its sales forecast this
season due to the effects of the broadening
global credit crisis on local producers.
"We know that in the rainy season
(September-January when planting begins)
credit is necessary in addition to the
rain," said the executive director of the
National Fertilizer Distributors Association
(Anda), Eduardo Daher, told Reuters.
By
Roberto Samora
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The giant American CHS, cooperative with 79
years and 350 thousand members in the U.S.,
have put their feet in firmly in Brazil.
It has
just
closed a partnership with Coopermibra,
a ten year cooperative that
handles grain in northwestern
Paraná.
This marriage is good for the both of them. For CHS, because
there is a chance to increase the purchase
of grain in Brazil and build projects of
investments here that, according to the
market, will exceed US$ 1 billion.
MAURO ZAFALON
the Folha de S. Paulo
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ITAGUAI, BRAZIL
ThyssenKrupp's towering steel factory going
up near Rio de Janeiro resembles a medieval
cathedral -- and stands as a latter-day
shrine to the belief that Brazil's economy
will withstand U.S. financial turmoil.
Brazil's stocks and currency whipsawed
wildly last week along with U.S. markets,
recalling the gyrations that preceded
financial crises in the 1990s when meltdowns
in Mexico, Russia and Thailand sucked this
country's economy down with them.
By Chris Kraul,
Los Angeles Times Staff
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