NewMarket Latin America, Inc. (NLAI .PK), the South American chapter of NewMarket Technology Inc.’s (OTCBB: NMKT) global initiative to build subsidiary technology service operations in the world’s emerging economic regions, released a letter from the company’s chief executive officer Aubrey Brown to update shareholders on plans to reach $30 million in profitable revenue in 2008.
The company expects to continue to grow its core service offering brand name technology solutions, and expanding South American operations into earlier stage technology offerings. From this initiative, the CEO expects revenue from South American operations to reach $30 million in 2008, while current profit margins continue to improve.
Over the past two years, NewMarket Latin America has concentrated on its core service offering, providing brand name technology solutions. The company has recently initiated efforts to expand into earlier stage technology offerings, signing its first broadband wireless contract to provide service in southern Brazil. The company currently offers broadband wireless service under development in Peru, Colombia and Panama.
NewMarket Latin America’s growth and Microsoft partnership were recently featured in two separate articles from Business News Americas. For copies of the articles, contact the company at ir@newmarketlatinamerica.com.
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