Marcio Alaor, BMG Bank And Banco Ita Agree To Form A New Bank


Forming a new bank in Brazil isnt easy. Brazil has a lot of banks, and the state controlled banks usually get most of the attention. But a recent article published by announced a new bank formed by a partnership between BMG Bank of Minas Gerais and Sao Paulo based Banco Ita. The partnership is seems to be an unusual pairing since Banco Ita is the fifth largest bank in Brazil and doesnt need a partner. Banco Ita merged with Unibanco in 2008 and that merger produced a super private bank that has a decent market share in the banking industry in Brazil.But this new billion Real partnership with BMG Bank is different. Both banks are successful without one another, but the banking business in Brazil is so competitive that both banks feel they can produce more business by forming a new bank. The new bank is called the Ita BMG Bank, and it has an initial capitalization of $R billion. Banco Ita invested $R700 million and BMG Bank put up $R300 million to get the bank started. According to BMG Bank Director Marcio Alaor the partnership and the new bank will produce more revenue at a lower cost. Lowering costs in Brazil is a priority for bankers in Brazil.

Marcio Alaor is well equipped to handle a major transaction like this one. He has been the Vice-President and Director of BMG Bank for years and is a respected member of the Brazilian banking community. Alaor was born in the state of Minas Gerais and grew up in a small village that produce fireworks. There wasnt much opportunity for Alaor in that village when he was a boy, but he made his own opportunities. When he was old enough he went to school got a degree and joined the banking business.

Even though Alaor is a important member of the BMG Bank family and a skilled negotiator he still has time for the people in his village. Thats what keeps Alaor grounded. Helping others is what he does best.

The formation of Ita BMG Bank will also help people get the payroll loans they need to survive the recession. Alaor thinks the new bank will attract new customers to their payroll loan product and Banco Ita agrees. Both banks are betting the new bank will lower costs and bring in new clients. That is the nature of banking in Brazil. Consignment loans fuel profits in Brazil and BMG Bank and Banco Ita want more profits.

Why Eucatex is Market Leader in Manufacturing of Construction Materials

Eucatex was established in 1951 to produce construction materials. It is actually the first company in Brazil to ensure sustainability in the production of wood units; the company developed some social and environmental actions to ensure this.

The far the company has gone is a result of Flavio Maluf’s efforts. He is a reputed entrepreneur and mechanical engineer. He is currently the president of the company, who has been working for the Eucatex for about 30 years now. Flavio is a lawyer by profession; he graduated from FAAP in Sao Paulo. He is also an administrator.

The company started its first mill in 1954. This mill is currently referred to as Fiberboard Industrial Unit. Eucatex later opened other branches in both Brazil and Argentina. Opening representative offices in Brazillian cities and Buenos Aires paved a way for the expansion of the company in terms of the production capacity, which went up to about 100 tons per day. By 1965, the company had grown so much so that it was able to export its ceiling tiles and panes to Europian countries.

The journey of Eucatex to becoming internationally recognized started in 1994 when the company established another factory in Salto. Here, the vanishes and paints laboratories were established, and eventually, the company started manufacturing MDP panels that really gained international recognition so fast.

Eucatex uses eucalyptus to manufacture most of its products, and it has been recognized by FSC( Forest Stewardship Council) for taking the initiative to ensuring conservation of forests. The company has a forest unit where it plants trees.

Due to its efforts in ensuring the sustainability of natural resources as well as production high-quality products, Eucatex managed to emerge the first Brazillian in this sector to be awarded the ISO 9001 certification. In the year 2010, the company installed a state-of-the-art production line, the T-HDF/MDF, in Slato plant and started producing high-quality panels.

With the new technology in place, Eucatex started manufacturing partition panels and doors for making furniture. The company has so far made its name in the production of laminated floors, varnishes, paints, wall partitions, hardboards as well as MDF and MDP panels

The company that started so small is not with over 2, 200 employees. These workers are adequately trained to produce products that exceed both local and international standards. In terms of selling its products, Eucatex has today spread its wings to over 37 countries. This has been made possible by the establishment of modern factories in Botucatu and Salto as well as the fact that it has already established many offices in different cities in the country and abroad.

Newark to Benefit from Tested Real Estate Model


Newark, New Jersey – Newark could soon benefit from the positive results of a real estate model tested in Jersey City and New Brunswick, according to a recent article published through NJ Biz. The success in those other cities came as a result of multiple developments in the works at the same time. Newark now has 10 major commercial real estate projects going now. That is good news for the city, which needs the positive economic boon that will follow.Boraie Development is building one of the new projects, a 168-unit high-rise. The firm’s executive vice-president, Wasseem Boraie notes the importance of simultaneous development in the city, “Residential consumers are not going to come to a huge city for one project.” For too long, the city hoped to draw new interest through the construction of enormous, stand alone developments. However, it proved to be insufficient, no matter how large the project was. 

Companies like Boraie Development have built a successful strategy for revitalizing cities with their multi-project approach. Omar Boraie, the company founder, brought his vision of economic development with him from his travels in Europe forty years ago. In 1972 the Egyptian immigrant bought 21 vacant lots in New Brunswick and went to the city fathers with a plan to develop the site. Although they thought it was unorthodox, he proved his idea by eventually developing three Class A office towers. The elder Boraie also learned that one project could inspire another and once multiple projects are underway a snowball effect takes off and city growth explodes.

The recent Newark CRE Summit was abuzz with excitement about simultaneous development and the options it will provide. The States’ largest city is set to experience growth that it has missed for a number of years. Boraie Development and others are thankful for the opportunity and confident the city will benefit. Wasseem Boarie said, “The thing that the administration is doing very smartly now… (is that) there are going to be choices.” And choices will bring new residents who will stimulate the economy.