Mexican companies from Desarrolladora Homex SAB to Banco Compartamos SA are turning to South America to increase revenue as their country’s economy lags behind a regional recovery.
Homex, Mexico’s largest homebuilder, will expand its office in Brazil and expects the nation to account for 'a more significant part' of future sales growth, Chief Financial Officer Carlos Moctezuma said. Banco Compartamos, a micro- finance lender whose stock rose 150 percent this year, is looking for a company to buy in Brazil, Colombia, Peru or Bolivia, said Chief Financial Officer Fernando Alvarez Toca.
'Brazil is a country that is leading the region now with good results,' Alvarez Toca said in a Nov. 30 interview in New York. 'The size of the market there is huge.'