Spain's Indra Readies Push into Mexico

BARCELONA (03/29/2000) - Spanish systems and IT services provider Indra Sistemas SA plans to within the next few months to set up operations in Mexico, as part of its ongoing expansion into the Latin American market, a company executive said yesterday.

The establishment of the Mexican operation will further strengthen Indra's reach in Latin America, said Regino Moranchel, general manager at Madrid-based Indra, speaking here at International Data Corp.'s European IT Management Forum.

Indra already has a presence in several Latin American countries, including Chile, Peru and Venezuela, Moranchel said.

Further details about the planned Mexican operation were not available.

In 1999, Indra's Latin American revenue almost tripled, making up 22 percent of the company's total billings, according to information from Indra's Web site.

One of Spain's leading IT companies, Indra this year expects the net income to grow to 6 billion pesetas (US$34.5 million), up from 4.8 billion pesetas on a revenue of 96.6 billion pesetas in fiscal 1999, the company said in a recent statement.

Indra Sistemas, in Madrid, can be reached at +34-91-396-3300, or via the Web at http://www.indra.es/.

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