New Brazilian ADR: WEG

On September 28, 2010 the ADRs for WEG S.A., a Brazilian industrial equipments maker, started trading on the OTC market with the ticker WEGZY.

The ADR program is a sponsored Level 1 program offering international investors access to this highly successful Brazilian multinational. WEG was founded in in 1961, in Jaraguá do Sul, the state of Santa Catarina, Brazil by German immigrants Werner Ricardo Voigt, Eggon João da Silva and Geraldo Werninghaus. They named the company WEG formed by the first letters of their names. WEG in German means “way”.

“As Latin America’s largest electric motor manufacturer and one of the world’s largest, WEG specializes in branches such as command and protection, speed variation, industrial process automation, power generation and distribution and industrial paints and varnishes.

Production is concentrated in 8 production sites located in Brazil (Guaramirim, Blumenau, São Bernardo, Manaus, Gravataí, Hortolândia and two in Jaraguá do Sul, the company’s headquarters), three in Argentina, two in Mexico, one in China and in Portugal.

The company is listed on the BM&F; Bovespa São Paulo stock exchange (stock exchange symbol WEGE3). In 2009, the Group employed a workforce of more than 21,000 people worldwide; gross revenues totaled R$ 5.1 Billion (US$ 2.6 Billion).”

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