In an effort to expand its minimal presence in Latin America, Compagnie des Machines Bull SA has created a common holding company in Brazil and Argentina with one of Brazil’s largest industrial concerns, Algar Group Ltda (CI No 2,722). Building on the two companies’ existing joint venture, the new company Algar Bull Computer Communication will comprise 24 companies in the information technology, food, automotive and services and will co-ordinate the activities of their 10 joint information systems companies. Group Algar will hold 60% of the company in Brazil, leaving Bull the 40%, but Bull will control 60% of the capital of the entity in Argentina, Uruguay and Chile. The joint venture aims to develop systems integration activity, notably in the banking and telecommunications sectors, where the two companies are hoping to double their sales to $25m this year.
