Portugal Telecom’s research company invests in Brazil

8 October 2007

Florianopolis, Brazil, 8 Oct – PT Inovação, the research subsidiary of Portugal Telecom, plans to set up a software production unit in Brazil, the company’s chairman, Pauilo Nordeste said in Florianopolis last week.

Speaking at a press conference, Nordeste said that the idea was to expand the company’s capacity in order to attract new customers in the Brazilian and Latin American markets.

PT Inovação currently has six customers in Brazil, and the Portuguese-Spanish joint venture Vivo is the main one.

The company has yet to decide on the location of its new factory, which is expect to go into production in the first half of 2008.

Nordeste said only that the unit would be outside Sao Paulo.

PT Inovação expects the new unit to increase the company’s turnover by 30 percent. This year the company expects turnover of 40 million reals.

The company’s chairman declined to give a figure for investment in the Brazilian unit. (macauhub)