German company Siemens is planning to increase participation in the Brazilian motor vehicles market, according to South American Business Information (7/12/00).

According to company officer Mr Euclides Soares, Siemens will incorporate the electronic component producer VDO do Brasil within its plans once the acquisition of Atech Mannesmann -- owner of VDO -- has been concluded.

In 1999/2000 Siemens reported $R138 million net profits in Brazil, with the market accounting for 3% of Siemens turnover estimated at $R2.5 billion between October 1999 and September 2000.

For 2001 the company expects to increase net earnings by 14% and profitability by 36%.