Heavyweight stretches out in Latin America
After looking at South America through a microscope, examining taxation and regulatory issues in each country, Heavyweight Air Express will soon begin expansion into Chile, Colombia and Central America. The firm recently set up offices in Sao Paulo and Buenos Aires.
“Once it was felt we had a solid grasp on local trading conditions and what to expect, we weighed market growth prospects versus risk and that provided a solid blueprint to work from," Heavyweight's Ian Hutchinson said in a statement explaining the company's growth strategy. He emphasized that Heavyweight isn't interested in expanding for expansion's sake, but has taken pains to search out demand.
“We’ve been doing this long enough to know that moving into a new market with stressed rates, low commissions and just moving the same kilos isn’t really providing anything new to our customers,” Hutchinson, vice president for the Americas, continued. “We want to engineer fresh opportunity, new growth and find undiscovered earning streams. We’re absolutely confident that Latin America will provide that for the group and its clients.”
According to a press release, Heavyweight's products have been tailored for each country's specific demands. Officials have reasoned that a one-size-fits-all mindset would not work for the Latin America region.
This might be the optimal time for expansion in Latin America, according to a study recently conducted by UPS, which found that half of the 800 business executives surveyed have a more positive outlook about the regional economy than in 2011. The survey also found that 63 percent of the executives are optimistic about Latin America's economic performance. The three countries executives said they were the most optimistic about are Colombia, Chile and Mexico.