Newly appointed President Michel Temer is on a mission to get Brazil’s economy moving in the right direction again. He doesn’t have a choice. New elections are set for 2018, and former Presidents Dilma Rousseff and Lulu da Silva may be back for vengeance. Temer was the vice-president under Rousseff, but he was instrumental in impeaching the Workers Party leader. Temer was on a non-stop road trip recently that included a trip to China for the G-20 Summit. He discussed new trade agreements with several trading partners there. Temer made a stop to sign the Paris Agreement in New York, and he also visited the UN to open the door for more foreign investment. Brazil’s economy is still going to contract by more than 3.2 percent in 2016, but if Temer can convince foreign investors to have faith in his ability to reverse the tide in Brazil, he may get reelected, and his country may start to recover.
Temer’s recent trips have been well received by business people like Flavio Maluf, the CEO of Eucatex. Eucatex is a leading exporter of building supply materials. His family started the company in the state of Sao Paulo in the 1950s as a manufacturer of eucalyptus ceiling tiles for the domestic market. The company grew quickly, and by the early 1960s, Eucatex was exporting their eucalyptus ceiling tile to other countries in South America. Flavio Maluf spent time in New York at NYU studying business before he returned to the family business. In 1997, he was named the president of the company. Flavio knew he had to expand the product line in order to stay competitive, so Flavio Maluf started an aggressive expansion program that including purchasing more factories to produce paint and varnishes as well as a factory to make MDF panels and other products.
Flavio Maluf was also responsible for opening environmentally friendly offices in several countries. Maluf is known as one of the business people in Brazil that recognized the need to cut carbon emissions long before the government of Brazil took any steps to cut the smog that was overpowering some of the country’s key cities. When Temer signed the recent Paris agreement, Flavio Maluf knew that his country would eventually follow his lead.