LORD Creates Corporate Structure in Latin America
Aiming to expand the focus on Latin America’s growth potential, LORD Corp. has created a specific structure for the region. Chaired by Julio Perez, the new regional organization has operations in Brazil and Mexico. Perez’s main goal will be to increase Latin America’s share in LORD’s business, which is currently around 6%. In 2012, the company registered global sales of $880 million.
“The plan is to go up to 10-15% within five years,” Perez said. In order to accomplish that goal, he is reportedly working to strengthen the presence of LORD in the sectors of mining, oil, defense, aerospace and energy, with special mention to wind power. In Brazil, a country that accounts for more than 40% of LORD’s gains in the region, the transportation and industrial markets individually account for 45% of sales.
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