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Technology Stocks : Unisys: Computer Solutions and Services Worldwide

UIS 2.885

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To: jopawa who wrote (2219)	1/13/1999 6:56:00 PM
From: jopawa	Read Replies (1) of 2818

Unisys's Weinbach on Brazil's Currency Decline: Company Comment Blue Bell, Pennsylvania, Jan. 13 (Bloomberg) -- Unisys Corp.'s chairman, president and chief executive, Lawrence Weinbach, commenting on the company's outlook after Brazil let its currency weaken and the president of the country's central bank resigned: ''We're not uncomfortable about where we're positioned,'' Weinbach said. Unisys assumed a 7.5 percent devaluation of Brazil's currency when it drew up its budget for this year. The Brazilian real fell about 9 percent today. Unisys's Brazilian business accounts for about 5 percent, or $350 million to $400 million, of its annual revenue of about $6.6 billion. Unisys, is the U.S.'s seventh-largest contract provider of computer services for other companies. ''About 60 percent of our business in Brazil is services. We get paid in local currency and we pay our workers in local currency,'' Weinbach said. Unisys also sells mainframe and server computers. Unisys workers in Brazil aren't panicking at the devaluation, Weinbach said. ''People there have lived with such high inflation in recent years, they're taking it in stride.''

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