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ISTOBAL set up a subsidiary in Brazil following its expansion strategy

By 25 juli, 2013News
ISTOBAL, the leading Spanish company in the design, manufacture and marketing of car wash solutions for the automotive industry, has set up a new subsidiary in the state of São Paulo (Brazil). The company is looking to establish and develop commercial work, final assembly and technical assistance locally. Under the name ISTOBAL do BRASIL Ltda, the new subsidiary is a direct input of the Valencian company into the Brazilian market, which is one of the pillars in the internationalization and expansion strategy deployed by the firm in America. The strategy was launched in 2011 with the expansion of ISTOBAL USA Corp., based in Bristol (Virginia). Since then, in addition to marketing and technical services, the U.S. subsidiary has taken on assembly tasks and the final logistics of car wash equipment specific to the U.S. market. The experience gained so far in the north American market has been made the most of by the company as a reference model for implementing operations directly in another difficult-access market -from the exportation standpoint- like Brazil, a country with severe restrictions and high import tariffs on products from abroad. The growth potential of the car wash industry in this country has prompted the company to establish a local subsidiary with 2,000 m2 facilities and a staff of 13, to be gradually increased to 27 employees by 2015. Revenue for the Brazilian market has been estimated to reach 3 million Euros in 2015. The main goals of the new subsidiary are as follows: dynamic development of equipment to meet the special needs of a market with a strong focus on commercial vehicle washing, and long-term consolidation to become a quality reference in Brazil. The establishment of subsidiaries and final assembly plants abroad, and the recent acquisition of the French company FDI+, a leader in the development and manufacture of train and tram wash machines are two examples of Istobal’s commitment to internationalising all product ranges, with over 70% of the company’s total turnover coming from foreign markets. Istobal have been exporting their wash equipment since 1970 to more than 62 countries, working with a wide network of distributors worldwide. Today, the company has six subsidiaries and two final assembly plants in Europe, plus two subsidiaries and assembly plants in America.