16/06/2008 21:39. Following a 45% year-on-year regional sales rise for 2007 and a strong performance thus far in 2008, Iveco has announced a five-year €220m (US$339m) investment plan for its Latin American operations. Following a 45% year-on-year regional sales rise for 2007 and a strong performance thus far in 2008, Iveco has announced a five-year €220m (US$339m) investment plan for its Latin American operations.

The announcement was made by Iveco's chief executive, Paolo Monferino, during an inauguration ceremony for the OEM's new Product Development Centre in Sete Lagoas, which was also attended by the governor of the state of Minas Gerais, Aecio Neves.

The €11m facility will adapt products from the Iveco range to Latin American markets and develop models specially tailored to local needs,... // Automotive World