WEG Announces Brazil Industrial Paint Investments
Brazilian technology development company WEG has announced an investment of R$70 million ($14,351,617) to expand the production capacity of industrial liquid paints in Brazil by 2024.
According the release form WEG, the investment will include the construction of a new unit for industrial liquid paints and a distribution and logistics center. This is expected to increase the current production capacity by about 70%.
Additionally, the new logistics distribution center, with around 6,400 square meters of built area, will reportedly allow for the gradual and continuous capacity expansion to meet the company's growth needs in the coming years.
"These investments are important for the growth of WEG's industrial paint business in the country, as they significantly expand our production and logistics capacity to meet the growing demand for more efficient and sustainable industrial paints," explained Rafael Torezan, WEG Industrial Paints Managing Director.
The release stated that investments would be made in the industrial park in the city of Guaramirim, in the state of Santa Catarina, where the company reportedly produces liquid and powder paints, resins and electro-insulating varnishes for the industrial and infrastructure segments.