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Motors | Automation | Energy | Transmission & Distribution | Paints




June 2010
J.P. Morgan LatAm
Corporate Access Days
Disclaimer
    The information contained herein has been prepared by WEG S.A. (“WEG” or the “Company”) solely for meetings...
WEG key facts
About WEG                                           Revenue by business area
    Market leader in Latin Amer...
Global Presence




                                                Distributors & Agents in over 85 countries
    Factori...
History of WEG
    Founded on September 16th, 1961




5         J.P. Morgan LatAm Corporate Access Days   June 2010
Shareholding structure
    Clear and strong control group that knows the business but is not 
    directly involved on day...
Corporate Governance Practices
     Strong accountability and transparency culture
     Ingrained into Company’s core valu...
Diversification as Core Value
    Integration allows for synergy gains and reduces business cycle risk


                 ...
Business areas
                     Electro-Electronic            Generation,              Motors for              Industr...
Business Units
 Complete solutions that increase perceived value by the client

              MOTORS                      ...
Consistent and profitable growth
 Cycles are diversified away, allowing focus on profitable opportunities

 Gross Revenues...
Strong fundamental trends
Energy prices will continue to increase
 Cheaper energies are becoming less available
 Concerns ...
Strong fundamental trends
 Secular trend of increasing energy prices is shifting
 industrial electric equipment environmen...
Unique Product Characteristics
      Cost of ownership of an electric motor throughout its useful life




     Specificat...
WEG is Uniquely Positioned




15   J.P. Morgan LatAm Corporate Access Days   June 2010
Diversified and Synergistic Offering
      Product diversification increases                  …while reduces costs and div...
Technological Innovation Capabilities
 Technology advances at fast pace, with WEG at the forefront
 Consistent R&D spendin...
Global Presence
  External Markets Revenues (US$ M)

                                                             1029
   ...
Global Presence
 High-growth emerging markets represent almost 80% of business

  Revenue breakdown by region (2009)



  ...
Scale and Customization
 Customization is characteristic of the industry and specifications are
 very diverse. Most produc...
Profitability
 Net Earnings (R$ million)                                    EBITDA (R$ million)
                          ...
Capacity Expansion Program
 Capex and Depreciation (R$ million)

                                                         ...
Dividend Pay-out Policy
 Net Earnings and Dividends (R$ million)
                                                         ...
General Comments on Q1 2010
     Quarter confirms that recovery is going to be gradual

     Economic dynamisms spreads fr...
Quarterly Highlights

                                     Q1 2010           Q4 2009 Growth %           Q1 2009 Growth %
G...
Financing Policies
                  March 2010                                  December 2009   March 2009
CASH & EQUIVAL...
Gross Operating Revenues
Evolution of Gross Revenues – Domestic Market
(in R$ million)
                                 5%...
Global Presence
Gross Revenues Breakdown: Q1 2010




                                                 9%
                ...
Profitability
      36%        37%          36%                        33%
                                          30%
 ...
Growth and Margin Analysis
Revenues Growth (CAGR)                                                                         ...
Our Business




31   J.P. Morgan LatAm Corporate Access Days   June 2010
32   J.P. Morgan LatAm Corporate Access Days   June 2010
Electric Motors
 Fractional (commercial use) Motors

 • NEMA Motors, Single and Three Phase up to 3.7kW (5HP)


 Applicati...
Electric Motors
 Low Voltage Industrial Motors

 • Three phase TEFC / ODP motors / output ratings up to 1200kW (1650HP)
  ...
35   J.P. Morgan LatAm Corporate Access Days   June 2010
Automation
 Switch and Control Gear

 • Molded case circuit breakers

 • Contactors and overload relays

 • Motor circuit ...
Automation
 Drives and Soft Starters

• LV VFD’s in outputs up to 4000HP

• MV VFD’s in outputs upt to 8000HP

• LV & MV S...
38   J.P. Morgan LatAm Corporate Access Days   June 2010
Energy
 Medium and High Voltage Motors

 • Three Phase TEFC / ODP Induction Motors

     - Master Line, frames from 280 to...
Energy
 Generators

 • Large size generators
     - Turbogenerators, outputs up to 80,000 kVA, voltages up to 15kV
     - ...
41   J.P. Morgan LatAm Corporate Access Days   June 2010
Transmission & Distribution
 Transformers
 • Oil:
     Power - Outputs up to 300 MVA, voltage classes up to 550 kV
     In...
43   J.P. Morgan LatAm Corporate Access Days   June 2010
Manufacturing Plants: Brazil
     JARAGUÁ DO SUL - SC                 JARAGUÁ DO SUL - SC                                G...
Manufacturing Plants: Outside Brazil
          ARGENTINA - San Francisco            ARGENTINA - Córdoba                POR...
Certifications




46   J.P. Morgan LatAm Corporate Access Days   June 2010
Quality Certifications




                                       ISO 9001:2008
                                  Certific...
References - OEM Ventilation




48   J.P. Morgan LatAm Corporate Access Days   June 2010
References - OEM Pumps




49   J.P. Morgan LatAm Corporate Access Days   June 2010
References - OEM Compressors




50   J.P. Morgan LatAm Corporate Access Days   June 2010
References: Oil & Gas




51   J.P. Morgan LatAm Corporate Access Days   June 2010
References:OEM‘s and End Users




52   J.P. Morgan LatAm Corporate Access Days   June 2010
References - Engineering Companies




53   J.P. Morgan LatAm Corporate Access Days   June 2010
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2010 06 21 J.P. Morgan LATAM Corporate Access Days (London)

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Presentation used during the J.P. Morgan LATAM Corporate Access Days event in London 21 and 22 of June 2010.

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Transcript of "2010 06 21 J.P. Morgan LATAM Corporate Access Days (London)"

  1. 1. Motors | Automation | Energy | Transmission & Distribution | Paints June 2010 J.P. Morgan LatAm Corporate Access Days
  2. 2. Disclaimer The information contained herein has been prepared by WEG S.A. (“WEG” or the “Company”) solely for meetings held with investors and/or potential investors. This material does not constitute offering material in whole or part, and you must obtain further information before making an investment decision in respect of the common shares of the Company. This material has been prepared solely for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any securities and should not be treated as giving investment advice. It is not targeted to the specific investment objectives, financial situation or particular needs of any recipient. No representation or warranty, either express or implied, is made as to the accuracy, completeness or reliability of the information contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment. Any opinions expressed in this material are subject to change without notice and WEG is not under obligation to update or keep current the information contained herein. In addition, WEG has been informed that their affiliates, agents, directors, partners and employees may make purchases and/or sales as principals or may act as market makers or provide investment banking or other services to the Company. The Company and their respective affiliates, agents, directors, partners and employees accept no liability whatsoever for any loss or damage of any kind arising out of the use of all or any part of this material. You should consult your own legal, regulatory, tax, business, investment, financial and accounting advisers to the extent that you deem necessary, and you must make your own investment, hedging or trading decision based upon your own judgment and advice from such advisers as you deem necessary and not upon any view expressed in this material. This material includes forward-looking statements subject to risks and uncertainties, which are based on current expectations and projections about future events and trends that may affect the Company’s business. These statements include projections of economic growth and energy demand and supply, as well as information about competitive position, the regulatory environment, potential opportunities for growth and other matters. Several factors may adversely affect the estimates and assumptions on which these statements are based, many of which are beyond our control. 2 J.P. Morgan LatAm Corporate Access Days June 2010
  3. 3. WEG key facts About WEG Revenue by business area Market leader in Latin America and among 6% top 5 electric motor players in the world 13% Over 21thousands employees (2.5 thousands 47% outside Brazil) Industrial Equipment Around 35% of business outside Brazil 34% GTD Domestic Use Revenues CAGR of 19% over past 15 years Paints & Varnishes 2009 Revenues: US$ 2.8 billion Employees 19.537 employees worldwide EBITDA: US$ 465 million Net earnings: US$ 305 million Strong balance sheet, unaffected by financial crisis 3 J.P. Morgan LatAm Corporate Access Days June 2010
  4. 4. Global Presence Distributors & Agents in over 85 countries Factories in 5 countries Over 1100 Service Centers covering all 5 Commercial branches in 22 countries continents Sales to over 110 countries 4 J.P. Morgan LatAm Corporate Access Days June 2010
  5. 5. History of WEG Founded on September 16th, 1961 5 J.P. Morgan LatAm Corporate Access Days June 2010
  6. 6. Shareholding structure Clear and strong control group that knows the business but is not  directly involved on day to day operations Voigt Silva Werninghaus Controlling 33.3% 33.3% 33.3% Shareholders WEG  Founders’ Other  Participações e  Families Serviços S/A (directly) (Float) 50.9% 14.4% 34.7% WEG S.A. 6 J.P. Morgan LatAm Corporate Access Days June 2010
  7. 7. Corporate Governance Practices Strong accountability and transparency culture Ingrained into Company’s core values, beliefs and mission Practices are “all that matter.” Formalization comes afterwards Early adopter of best practices formalizations and codes “Novo Mercado” conversion of PN shares at 1:1 ratio 7 J.P. Morgan LatAm Corporate Access Days June 2010
  8. 8. Diversification as Core Value Integration allows for synergy gains and reduces business cycle risk Services Electronic Energy Components Energy Generation Substations Motor Transformer Distribution Electric Panel Components Generator Motor Control Panel Industrial Process Automation Industrial Application Paints and Varnishes 8 J.P. Morgan LatAm Corporate Access Days June 2010
  9. 9. Business areas Electro-Electronic Generation, Motors for Industrial Industrial Transmission Domestic Use Paints and Equipments and Distribution Varnishes Focus Global Americas Latin America Brazil Hydro, thermal Low and medium (natural gas, biomass Liquid and tension electric and other) and wind powdered Products motors, industrial generators, Single phase electric paints, electro- automation transformers, control motors isolating equipments and panels, automation varnishes services services Capital goods OEMs Generation, General (pumps, transmission and “White goods” OEMs industrial and Consumer compressors, distribution (washing machines, specialty machines) and end- concessionaries, co- HVAC*), water applications Markets users (steel, mining, pumps, lawn (shipbuilding, generation, industrial mowers, etc aggressive pulp & paper, oil & clients gas, ethanol) environments) Industrial Production Performance growth and Growing investments Disposable income, Brazilian GDP Investments in Fixed in energy generation supply of credit and growth Drivers level of interest rates Capital (capex) 9 J.P. Morgan LatAm Corporate Access Days June 2010
  10. 10. Business Units Complete solutions that increase perceived value by the client MOTORS AUTOMATION ENERGY TRANSMISSION & DISTRIBUTION COATINGS 10 J.P. Morgan LatAm Corporate Access Days June 2010
  11. 11. Consistent and profitable growth Cycles are diversified away, allowing focus on profitable opportunities Gross Revenues (R$) EBITDA (R$) 5.471 1.026 5.111 923 4.551 837 CAGR 19% CAGR 18% 3.527 666 2.978 504 2.603 487 435 2.015 327 291 1.535 1.269 207 963 146 106 135 753 632 430 458 574 80 84 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net Earnings (R$) Return on Equity 575 47% 560 548 44% 503 38% 38% 37% 37% CAGR 23% 33% 33% 403 31% 31% 379 25% 308 23% 22% 220 16% 176 14% 125 98 82 58 41 31 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 11 J.P. Morgan LatAm Corporate Access Days June 2010
  12. 12. Strong fundamental trends Energy prices will continue to increase Cheaper energies are becoming less available Concerns about sustainability (climate change) Cleaner energies are technologically intensive Oil prices (US$) 100  90  80  70  60  50  40  30  20  10  ‐ 1970 1980 1990 2000 2010 Partial 12 J.P. Morgan LatAm Corporate Access Days June 2010
  13. 13. Strong fundamental trends Secular trend of increasing energy prices is shifting industrial electric equipment environment Energy efficiency Industrial electric motors represent around 25% of global electricity Lower CO2 consumption emissions Most efficiency Economic viable “bang” for the alternatives fuels Capex “buck” Cleaner Energy Sources 13 J.P. Morgan LatAm Corporate Access Days June 2010
  14. 14. Unique Product Characteristics Cost of ownership of an electric motor throughout its useful life Specifications must be exact. Everything affects energy efficiency “Similar” motors are not economical, even if much cheaper Becomes more evident when energy prices go up Returns on energy efficiency investments are very attractive 14 J.P. Morgan LatAm Corporate Access Days June 2010
  15. 15. WEG is Uniquely Positioned 15 J.P. Morgan LatAm Corporate Access Days June 2010
  16. 16. Diversified and Synergistic Offering Product diversification increases …while reduces costs and diversify risks competitiveness and added value… From the client’s perspective From WEG’s perspective One Supplier, Several Client Products Several Suppliers, one Several Several Products, product each Products, One Markets, Industries and Salesperson Clients One-stop shop (largest electric motor line Greater synergy and efficiency of sales effort from a single manufacturer) Strong worldwide after sales support Reduced risk exposure (product, segment (services and parts) and client) Product integration in systems and solutions 16 J.P. Morgan LatAm Corporate Access Days June 2010
  17. 17. Technological Innovation Capabilities Technology advances at fast pace, with WEG at the forefront Consistent R&D spending 2,5% 2,3% 2,5% 2,4% 2,3% Partnerships with best engineering 1,7% 1,8% 2,0% 2,0% schools in Brazil and in the world 1,6% 89 1,5% 86 83 Technical Committee meets semi- 73 63 annually to review latest developments in electrical theory and 30 34 applications 18 18 21 16 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 R&D Spending % Net Revenues More than 1.000 engineers developing products, such as Wmagnet Innovative use of technology for general purpose motors Higher energy efficiency (lower consumption per output) + Lower working temperature and noise levels Smaller size (lower material consumption) 17 J.P. Morgan LatAm Corporate Access Days June 2010
  18. 18. Global Presence External Markets Revenues (US$ M) 1029 880 120 27 1980 1989 1998 2009 2007 18 J.P. Morgan LatAm Corporate Access Days June 2010
  19. 19. Global Presence High-growth emerging markets represent almost 80% of business Revenue breakdown by region (2009) 11% 10% Europa América do Norte 5% Ásia e Oceania 66% 5% 3% América do Sul e Central África Brasil 19 J.P. Morgan LatAm Corporate Access Days June 2010
  20. 20. Scale and Customization Customization is characteristic of the industry and specifications are very diverse. Most production is built to order Largest integrated motor site in the world Integrated and synergetic production allows for large scale of production, with: Lower costs Higher operating efficiency Vertical integration allows for: Customized products Main Manufacturing Plant in Jaraguá do Sul, SC Fastest to the market Incoming Foundry / Orders Cast Machine More than 2,500 Engineering Wires Manufacturing Assembly different types of Line Steel Shop electric motors Paints & Varnishes monthly Tooling 20 J.P. Morgan LatAm Corporate Access Days June 2010
  21. 21. Profitability Net Earnings (R$ million) EBITDA (R$ million) 25% 23% 23% 22% 22% 1026 20% 20% 923 18% 18% 837 17% 15% 15% 12% 13% 666 575 560 548 503 487 504 403 394 375 308 03 04 05 06 07 08 09 03 04 05 06 07 08 09 20 20 20 20 20 20 20 20 20 20 20 20 20 20 Net Income Net Margin EBITDA EBITDA Margin 21 J.P. Morgan LatAm Corporate Access Days June 2010
  22. 22. Capacity Expansion Program Capex and Depreciation (R$ million) 457 Capex Depreciation 318 226 206 206 196 146 157 126 111 105 96 56 67 2003 2004 2005 2006 2007 2008 2009 22 J.P. Morgan LatAm Corporate Access Days June 2010
  23. 23. Dividend Pay-out Policy Net Earnings and Dividends (R$ million) 54% 55% 52% 45% 43% 44% 40% 40% 39% 575 37% 560 548 35% 503 403 375 308 299 301 300 220 229 176 173 165 125 124 82 29 89 46 68 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 Net Earnings Dividends Pay-out (%) 23 J.P. Morgan LatAm Corporate Access Days June 2010
  24. 24. General Comments on Q1 2010 Quarter confirms that recovery is going to be gradual Economic dynamisms spreads from the Brazilian consumer towards other segments: Consumer goods continue strong, tied to fundamentals Industrial products doing better the closer they are to the consumer Longer cycle products is still in early stages of recovery Other emerging countries faring better than mature economies We are resuming some investment plans as demands picks up Production of HT motors in India by 2H of 2010; Production of commercial motors in Linhares by year end 24 J.P. Morgan LatAm Corporate Access Days Page 24 June 2010
  25. 25. Quarterly Highlights Q1 2010 Q4 2009 Growth % Q1 2009 Growth % Gross Operating Revenue 1.131.546 1.306.913 -13,4% 1.270.984 -11,0% Domestic Market 801.299 871.619 -8,1% 802.351 -0,1% External Markets 330.247 435.299 -24,1% 468.632 -29,5% External Markets in US$ 181.170 250.328 -27,6% 202.726 -10,6% Net Operating Revenue 931.907 1.076.969 -13,5% 1.048.241 -11,1% Gross Operating Profit 307.454 344.226 -10,7% 311.954 -1,4% Gross Margin 33,0% 32,0% 29,8% Quarterly Net Income 119.074 136.426 -12,7% 122.193 -2,6% Net Margin 12,8% 12,7% 11,7% EBITDA 181.750 228.548 -20,5% 181.112 0,4% EBITDA Margin 19,5% 21,2% 17,3% Figures in R$ Thousands 25 J.P. Morgan LatAm Corporate Access Days Page 25 June 2010
  26. 26. Financing Policies March 2010 December 2009 March 2009 CASH & EQUIVALENT 1.962.538 2.127.117 1.815.164 DEBT 1.782.466 1.872.533 2.099.941 - Current 814.274 895.885 1.171.587 - Long Term 968.192 976.648 928.354 NET CASH (DEBT) 180.072 254.584 (284.777) Operating cash flow trends continue favorable Capex program picking up where demand is stronger Strong capital structure allows access to low cost sources of funding BNDES (Brazilian development bank) is the main partner Negotiating first transaction with IFC Trade finance at very attractive terms Foreign subs financed locally but considering consolidated balance sheet Virtually no net foreign currency exposure Extending average maturities of debt at lower costs 26 J.P. Morgan LatAm Corporate Access Days Page 26 June 2010
  27. 27. Gross Operating Revenues Evolution of Gross Revenues – Domestic Market (in R$ million) 5% 0% Gross Operating Revenues 22% decreasing by 11%. Net Revenues 23% down by 11.1% 761 802 801 FX appreciation of 27% negatively 623 507 impacts comparisons Product mix continues to shift Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 towards short cycle products Evolution of Gross Revenues – External Market (in US$ million) Lower order intake during 2009 is External Market in US$ now apparent in revenues Quarterly Average FX Recovery continues driven by the 2,1875 2,1066 2,3117 1,7354 1,8229 Brazilian consumer 30% 18% -11% Long cycle and external (mature) 29% markets continue soft. 195,3 202,7 181,2 165,2 126,6 Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 27 J.P. Morgan LatAm Corporate Access Days Page 27 June 2010
  28. 28. Global Presence Gross Revenues Breakdown: Q1 2010 9% 10% Europe North America 3% 7% Asia & Oceania 71% 5% 2% Brazil Africa South & Central America 28 J.P. Morgan LatAm Corporate Access Days Page 28 June 2010
  29. 29. Profitability 36% 37% 36% 33% 30% 22% 24% 23% 17% 20% 293 320 312 307 238 193 203 181 182 149 Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Gross Profit Gross Margin EBITDA EBITDA Margin 18% 16% Gross margin improving, despite little 14% 12% 13% help from top line growth EBITDA margin trending towards the floor of the historical interval Net margin showing more modest 118 129 126 122 119 improvement, benefiting from FX stability Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Net Income Net Margin 29 J.P. Morgan LatAm Corporate Access Days Page 29 June 2010
  30. 30. Growth and Margin Analysis Revenues Growth (CAGR) Profitability (EBITDA Margins) 30,0% 30% 23,9% 2004‐2009 2009‐2012E 25,0% 25% 20,0% 20% 15,0% 12,6% 9,6% 10,1% 15% 10,0% 6,0%6,6% 5,1% 10% 5,0% 2,6% 2,6% 0,0% 5% ‐5,0% 0% ‐4,2% 2004 2005 2006 2007 2008 2009 ‐10,0% WEG SIEMENS EMERSON ABB SCHNEIDER WEG SIEMENS EMERSON ABB SCHNEIDER Financial Leverage (Net Debt / EBITDA 2009) 1,50  1,10  1,00  1,00  0,80  0,50  ‐ ‐0,50  ‐0,30  ‐1,00  ‐1,50  ‐1,50  ‐2,00  WEG SIEMENS EMERSON ABB SCHNEIDER Source: Morgan Stanley 30 J.P. Morgan LatAm Corporate Access Days June 2010
  31. 31. Our Business 31 J.P. Morgan LatAm Corporate Access Days June 2010
  32. 32. 32 J.P. Morgan LatAm Corporate Access Days June 2010
  33. 33. Electric Motors Fractional (commercial use) Motors • NEMA Motors, Single and Three Phase up to 3.7kW (5HP) Applications: * Pumps * Compressors * General Purpose * Air Conditioning * Explosion Proof * Pool and Spa * Others 33 J.P. Morgan LatAm Corporate Access Days June 2010
  34. 34. Electric Motors Low Voltage Industrial Motors • Three phase TEFC / ODP motors / output ratings up to 1200kW (1650HP) Types: * General Purpose * Explosion Proof * Brake Motors * Inverter Duty * Saw Arbor * Pump Motors * Others • Single Phase TEFC / ODP motors / output up to 9.2kW (12.5HP) Types: * General Purpose * Farm Duty * Multi-Mounting Aluminum frame motors * Appliance Motors * Ventilation / Others 34 J.P. Morgan LatAm Corporate Access Days June 2010
  35. 35. 35 J.P. Morgan LatAm Corporate Access Days June 2010
  36. 36. Automation Switch and Control Gear • Molded case circuit breakers • Contactors and overload relays • Motor circuit breaker • Push buttons and signalling units • D and NH fuses • Timers and electronic protectors • Thermoplastic and metal cased starters • Run capacitors for motors and light system • Power factor correction capacitors 36 J.P. Morgan LatAm Corporate Access Days June 2010
  37. 37. Automation Drives and Soft Starters • LV VFD’s in outputs up to 4000HP • MV VFD’s in outputs upt to 8000HP • LV & MV Soft-starters in outputs up to 3000HP • Servoconverters and Servomotors • Converters and AC/DC drives, outputs up to 3000HP 37 J.P. Morgan LatAm Corporate Access Days June 2010
  38. 38. 38 J.P. Morgan LatAm Corporate Access Days June 2010
  39. 39. Energy Medium and High Voltage Motors • Three Phase TEFC / ODP Induction Motors - Master Line, frames from 280 to 1800, voltages up to 15kV; - H Line, enclosed, frames from 315 to 630, voltages from 220V to 11kV; - DC Motors, frames up to 1800. Applications: * Mining * Sanitation * Steel Plants * Cement * Pulp and Paper * Petrochemical * Cooling Systems 39 J.P. Morgan LatAm Corporate Access Days June 2010
  40. 40. Energy Generators • Large size generators - Turbogenerators, outputs up to 80,000 kVA, voltages up to 15kV - Hydrogenerators, outputs up to 200,000 kVA, voltages up to 15kV • Generator for generator sets up to 4200kVA • LV/MV control and distribution boards, MV panels 40 J.P. Morgan LatAm Corporate Access Days June 2010
  41. 41. 41 J.P. Morgan LatAm Corporate Access Days June 2010
  42. 42. Transmission & Distribution Transformers • Oil: Power - Outputs up to 300 MVA, voltage classes up to 550 kV Industrial - Outputs from 500 to 5000 kVA, voltage classes 15; 24.2 or 36.2 KV Distribution - Outputs from 30 to 300 kVA, voltage classes 15 or 24.2 kV • Dry: Outputs from 300 to 15,000 kVA, voltage classes 15; 24.2 or 36.2 kV Substations • Stationary - Up to 550 kV • Mobile - Up to 145 kV 42 J.P. Morgan LatAm Corporate Access Days June 2010
  43. 43. 43 J.P. Morgan LatAm Corporate Access Days June 2010
  44. 44. Manufacturing Plants: Brazil JARAGUÁ DO SUL - SC JARAGUÁ DO SUL - SC GUARAMIRIM - SC BLUMENAU - SC ITAJAÍ - SC JOAÇABA - SC MANAUS - AM GRAVATAÍ - RS HORTOLÂNDIA - SP SÃO BERNARDO DO CAMPO - SP *LINHARES - ES *New factory (from Nov. 2010 on) 44 J.P. Morgan LatAm Corporate Access Days June 2010
  45. 45. Manufacturing Plants: Outside Brazil ARGENTINA - San Francisco ARGENTINA - Córdoba PORTUGAL - Maia PORTUGAL - Maia MEXICO - Huehuetoca MEXICO - Huehuetoca MEXICO - Tizayuca CHINA - Nantong INDIA - Hosur - Under construction 45 J.P. Morgan LatAm Corporate Access Days June 2010
  46. 46. Certifications 46 J.P. Morgan LatAm Corporate Access Days June 2010
  47. 47. Quality Certifications ISO 9001:2008 Certificate Number: BR229182 ISO 14001:2004 Certificate Number: BR229183/A 47 J.P. Morgan LatAm Corporate Access Days June 2010
  48. 48. References - OEM Ventilation 48 J.P. Morgan LatAm Corporate Access Days June 2010
  49. 49. References - OEM Pumps 49 J.P. Morgan LatAm Corporate Access Days June 2010
  50. 50. References - OEM Compressors 50 J.P. Morgan LatAm Corporate Access Days June 2010
  51. 51. References: Oil & Gas 51 J.P. Morgan LatAm Corporate Access Days June 2010
  52. 52. References:OEM‘s and End Users 52 J.P. Morgan LatAm Corporate Access Days June 2010
  53. 53. References - Engineering Companies 53 J.P. Morgan LatAm Corporate Access Days June 2010
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