Grendene foresees to invest r $ 120 million in modernization of factory

The footwear manufacturer Grendene reported this Wednesday which provides for making investments of r $ 120 million in 2014. The company's investments are geared primarily for modernisation and improvement in productivity at the factory. The company sent a statement in the late afternoon stating that wouldn't advertise investment projection for 2015.
In the first nine months of this year, the company reported investments of r $ 96.3 million, 7.3% lower than the volume of the nine first months of 2013. As part of the investment plans, the company also predicts bring to Brazil the TOG, plastic furniture business, which began operating in Europe in the second half of this year.
The company also reported that keeps the projection of annual revenue growth between 8% and 12% by 2015 and profit growth between 12% and 15% per annum.