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Brazil's Ambipar sees revenue growth helped by virus disinfection services

Aluisio Alves
·1 min read

By Aluisio Alves

SAO PAULO, Jan 5 (Reuters) - Brazilian emergency response company Ambipar Participacoes e Empreendimentos SA is likely to post double-digit revenue growth in 2021 as demand for COVID-19-related disinfection services escalates, CEO Cristina Andriotti said on Tuesday.

Among clients demanding such services are breweries, fast-food chains, food producers, malls and supermarkets. Still, Andriotti said contracts with these companies will not expire when the coronavirus pandemic gets under control.

"Many companies realized they should always have done some proceedings differently," she told Reuters.

This business line offers Ambipar opportunities for cross-selling, such as waste management services, she added. The company posted revenue of 200.5 million reais ($38.05 million) in the third quarter, up 38% from a year earlier.

Besides coronavirus-related services, Ambipar is also seeking a more global footprint. It said on Tuesday it has acquired U.S.-based firm Custom Environmental Services for an undisclosed amount.

It was the fourth U.S. acquisition by Ambipar in the last 12 months. The company, which listed its shares on the Sao Paulo stock exchange in July 2020, also operates in other 14 countries. ($1 = 5.2695 reais) (Reporting by Aluisio Alves in Sao Paulo Writing by Carolina Mandl Editing by Matthew Lewis)