TLA TIMES | December 13, 2017
A Snapshot of LatinAmerican News
Figures from Dic. 13 Source: www.xe.com
FUN IN THE SUN
BRAZIL AND ARGENTINA
Philippines moves closer to importing cattle from Latin America.
The Philippine Star reports that officials in the Philippines are trying to work with the World Organization of Animal Health to craft regulations to allow the import of cattle from Argentina and Brazil while keeping the nation free of hoof-and-mouth disease. The current proposal involves a six-month quarantine and limits the imported animals to two islands. Details
Domestic sneaker company money boots Nike from top spot.
Brazil-based Olympikus is the No.1 sneaker seller in its home market for the first time since 2011, knocking Oregon-based Nike off the top perch, Bloomberg reports. Nike and Adidas muscled in on the Brazilian market with major promotional pushes and grabbed market share when the country played host to the World Cup in 2014 and to the Olympics in 2016. Olympikus underwent a massive restructuring that gave it a leaner manufacturing operation and allowed the shoe-maker to deliver product to retailers more quickly, cutting down the inventory that stores had to carry. The company also acquired a brand popular with older women that helped boost Olympikus’ market share. Details
Ford will make electric SUVs in Mexico instead of Michigan.
Ford is shifting production of a small, electric SUV from a plant in Michigan to one in Mexico, Bloomberg reports via The St. Louis Post-Dispatch. The model, which has no name yet, is expected to have small margins, so the lower wages in Mexico make it more feasible to build there, one analyst says. The move also frees up the Michigan plant to build a self-driving car that is the works. Details
Ford tells suppliers its moving sedan production out of Mexico to China.
Reuters reports via U.S. News and World Report that Ford has told suppliers it is moving production of two midsize sedans from a plant in Hermosillo, Mexico and one in Spain to China. The models affected are the Fusion and Mondeo. The change won’t take place until 2020. Ford had already said it was moving production of the compact Focus from Mexico to China. Sales for both the Fusion and Mondeo are down by more than 20 percent this year. Details