Ultra Green Eyes on Brazilian PAC

Ultra Green intends to build popular houses in Brazil.

Therefore, the British company will set up its first factory in Brazil.

The British company will set up its first factory in Brazil. The company holds the technology to build popular houses fast and is interested in PAC projects for popular dwellings. Hichens, Harrison & Co. was contracted to get the amount of US$17 million to invest in industrial units in the State of Rio de Janeiro. The business transaction will be done through equity (direct participation) and Hichens will be the first partner with 5%.

In the long term, the company intends to set up a minimum of four factories in Brazil in addition to an initial public offering. More than three million houses have been built in the world using Ultra Green's technology, in Africa, Arabia and Dubai. In Brazil the company is doing business for popular houses in Manguinhos (in the City of Rio de Janeiro). If all goes according to plan, over the next 10 years over 81 thousand popular houses will be built, accumulating sales of US $430 million per factory.

O Globo, Friday 16th January 2009