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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (6933)	8/20/1998 10:01:00 PM
From: Steve Fancy	Respond to of 22640

Caterpillar (NYSE:CAT) strengthens Brazil foothold Reuters, Thursday, August 20, 1998 at 21:42 SAO PAULO, Aug 20 (Reuters) - U.S.-based heavy equipment maker Caterpillar Inc. said Thursday it will launch two global product groups in Brazil later this month in a move to strengthen its commitment to the Latin American market. Caterpillar's Brazilian unit said it will launch its Hydraulic Excavator 320 B plus three soil compactors simultaneously with the firm's U.S., Europe and Japan units. It also plans to upgrade its line of Wheel Loaders in Brazil. "Our launching the products here shows that Caterpillar's Brazilian operations have joined the 'world standards'," the firm's Brazilian president Chris Schena told a news conference. Schena said Brazil presented huge opportunities to Caterpillar as it had the world's fifth largest territory, sixth largest population and ninth biggest economy. "There are 120 million tonnes of mineral reserves still unexplored, 260,000 hectares (650,000 acres) of arable land and 1.5 million kilometers (937,000 miles) of highway, of which just 10 percent is paved," he said. Schena said Caterpillar Brasil has invested $8 million, of a total $22 million scheduled for 1998, in the product launch. The firm has invested over $70 million in Brazil over the last five years, he added. The new Brazil-made products will be exported globally as well as be sold to the local market. Caterpillar Brasil's exports amounted to about $300 million in 1997, or 70 percent of its total sales. Exports are expected to grow 20 percent this year. Schena said Brazil was one of Caterpillar's three strongest operating bases outside of the United States. The two others were Belgium and France, he said. Brazil currently contributes about one percent to Caterpillar's worldwide sales, he said. "Out of the 70-plus factories that Caterpillar operates worldwide, there aren't many bases that make up even one percent in sales," Schena said. noriko.yamaguchi@reuters.com)) Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (6933)	8/21/1998 8:00:00 AM
From: RockyBalboa	Read Replies (1) \| Respond to of 22640

Markets at 7:31 ET European Markets dive started slow in the morning but turned into a selloff climax at midday. Dax lost 240 so far down at 5248 which is the 2nd biggest decline ever. FTSE off 2,4% so far CAC-40 off 2,8% The Russian Traded Index lost another 9,5%. The declines in Europa are mostly adressed to fears about Russia and Latin America. The leading decliners are bank stocks amid fears of losses contributed by weakeening rouble and closing of russian commercial banks. Debt: Bradies are off another point, Russian and other eastern debt hit by 6-10 Points again. The bullish sentiment on german debt is rolling on, taking the german 10-yr BUND to 112.95 (+0.95) to yield 4,2%. The BUND Future has risen 360 points since end of July so far. Christian