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WEG Transformers USA history
WEG Transformers USA company history timeline
In 1984 Weg traveled far afield, acquiring Penha Pescados, a shrimp-fishing operation with six ships.
Motors for industrial use or in home appliances accounted for 80 percent of Weg's revenue of 164 billion cruzeiros (about $115 million) in 1984, when all but two of the seven company units--Acionamentos and Transformadores--were profitable.
1984 The company begins making paints, varnishes, resins, tars, and turpentine.
1991 In the midst of a recession, Weg loses money for the first and only time.
About one-fifth of the 1997 total of $532 million came from exports.
The corporate culture, as described once again in an Exame article, this time in 1998, was one of "Prussian" order, efficiency, and precision that perhaps belied popular conceptions of Brazil.
The goal for 1999 was $139 million in export revenue.
Weg initiated a new international expansion in 2000, when it bought an Argentine factory.
In 2004 Weg was a company with annual net sales of BRL 2.2 billion ($750.85 million, in terms of the average currency rate during that year). Exports accounted for about 40 percent of the total.
2005 Weg purchases a manufacturing plant in China to make electric motors.
On October 31, 2012, the Company announced the acquisition of Injetel Industria e Comercio de Componentes Plasticos Ltda, which is active in the production of switchers, sockets and plugs.”
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