JCB chairman Lord Bamford welcomes João Doria to JCB's World HQ

JCB has announced a GBP25 million (USD31 million) investment in its Brazilian operations as the company gears up for growth. The investment was confirmed as JCB hosted the Governor of the State of São Paulo, João Doria, at the company's World HQ in Staffordshire. Sorocaba, São Paulo has been the home to JCB's Brazilian production operations since 2001. In 2012, the company invested USD100 million in a new factory in the city, which was opened by Prime Minister David Cameron. The plant produces backhoe loaders, tracked excavators, wheel loading shovels, Loadall telescopic handlers and compaction equipment for the region. The latest investment will see the launch of new products for Brazil and neighbouring South American markets. JCB CEO Graeme Macdonald says: "We have a world-class production facility in Brazil and the (latest) investment ... underlines our commitment to this important market and enables us to seize all the opportunities for growth which lie ahead of us. The Brazilian market is in very good shape and has grown substantially over the past 18 months and continues to expand. There are some very exciting opportunities ahead."