Paladin Attachments expands its worldwide presence with the opening of its first manufacturing facility located outside the United States. The new 60,000 square foot facility in Guaranésia-MG, Brazil will create approximately 100 new jobs and serve both the Brazilian and broader South American attachment markets. Initially the facility will produce heavy-duty buckets for mainline hydraulic construction equipment including wheel loaders, excavators, skid-steer loaders and backhoe loaders. Further expansion into the production of a more complete range of light and heavy attachments is planned throughout 2014. The facility serves as a cornerstone of Paladin’s strategic objective to become the largest independent manufacturer of attachments in Brazil.
As the largest and most populated country in South America, Brazil has the world’s sixth largest economy and is home to more than 200 million people with annual growth expected over the next five years. Construction is a major focus of the growth in Brazil as it hosts the 2014 FIFA World Cup and the 2016 Summer Olympic Games. By 2016, the Brazilian construction market is projected to grow to $215 billion (US) annually.
Steve Andrews, chief executive officer of IES, said, “IES is committed to providing localized supply, technical resources and parts and service support to our customers in all significant global markets. We began the implementation of this strategy in 2012 with the acquisition of Siac do Brasil, the leading cab manufacturer to the off-highway OEMs in Brazil. This additional investment, supporting our Paladin Attachments division, is another important step in the growth and globalization of IES.”
Paladin attachments will be sold throughout Brazil via a network consisting of dealers and OEMs.