GE Plans Joint Venture in Brazil - -November 13, 1996

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General Electric Appliances will link up with a South American appliance giant, DAKO S.A. of Brazil, to jointly distribute both companies1 products there and throughout Latin America.

The two firms have formed a new company, GE-DAKO S.A., that initially will expand distribution of both GE and DAKO appliances under both brands in Brazil and Latin America.

DAKO, founded in 1936, is an independent manufacturer of gas ranges. Its net sales last year were the equivalent of $210 million U.S.

"Our new partnership will give us a great platform for growth in the Brazilian market and throughout Latin America," says Dave Cote, president and CEO of GE Appliances. "This venture underscores our commitment to the Brazilian and Latin American marketplace and is in line with our globalization strategy."

Cote says the new GE-DAKO S.A. "will manage and position both GE and DAKO brands to offer a wide range of products for Brazilian consumers."

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