NEW YORK, September 30, 2010 - J.P. Morgan today announced that it has been appointed depositary bank by Brazil-based WEG SA, one of the world's most successful industrial equipment companies, for its American Depositary Receipt (ADR) program.
Candice Teruszkin, DR sales executive for Latin America at J.P. Morgan, said: "We are thrilled that WEG SA has chosen J.P. Morgan for its ADR program. Our customized DR services will help WEG SA meet their goals to increase visibility within the U.S investor community and strengthen their global market presence."
WEG SA joins a line-up of leading Latin American companies for which J.P. Morgan acts as depositary. J.P. Morgan manages more than 20 ADR programs in Brazil, including: Banco Santander Brasil S.A., Companhia Siderurgica Nacional (CSN), Eletrobràs, Embraer (Empresa Brasileira de Aeronàutica S.A.), Hypermercas S.A., Lupatech S.A., Petroleo Brasileiro SA - Petrobras, TAM, Tempo Participações S.A., TIM Participações S.A. and Vale S.A.
J.P. Morgan pioneered the depositary receipts market over 80 years ago, introducing the first-ever DR in 1927. J.P. Morgan provides a full range of American Depositary Receipts (ADRs) or Global Depositary Receipts (GDRs) services to issuers seeking to have their equity traded on exchanges beyond their home markets.
For market information on DRs and international equities, go to J.P. Morgan's award-winning web site www.adr.com. For more information on J.P. Morgan's DR services, go to http://www.jpmorgan.com/visit/adr.
About WEG SA
WEG S.A. is one of the world's most successful industrial equipment companies. The company was founded in 1961, in Jaraguá do Sul, state of Santa Catarina, where the company maintains its headquarters. WEG is one of the biggest producers of electric equipment the world's biggest manufacturer of low voltage industrial electrical motors with a global reach. The product line also includes generators, transformers and electronic and electro-mechanical command and control devices. WEG sells its electric products and services in nearly all the countries of the world and has its main manufacturing unit in Jaraguá do Sul (SC). Other production facilities are located in Blumenau, Guaramirim and Joaçaba, also in Santa Catarina and in the Brazilian states of Rio Grande do Sul (Gravataí), São Paulo (São Bernardo do Campo and Hortolândia) and Amazonas (Manaus). Outside Brazil WEG has manufacturing units in Argentina, Mexico, Portugal, China and South Africa. In addition, WEG has distribution and business units in the USA, Venezuela, Colombia, Chile, Germany, England, Belgium, France, Spain, Italy, Sweden, Australia, Japan, Singapore, India, Russia and the UAE. The company is listed on the BM&F Bovespa São Paulo stock exchange (stock exchange symbol WEGE3). In 2009, the Group employed a workforce of more than 21,000 people worldwide; gross revenues totaled R$ 5.1 Billion (US$ 2.6 Billion).
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase & Co., WSS leverages the firm's global scale, leading technology and deep industry expertise to service investments around the world. It has $14.9 trillion in assets under custody and $6.7 trillion in funds under administration. For more information, go to www.jpmorgan.com/wss.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.0 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.