Packaging

InnerWorkings Enters Brazilian Market

Wednesday 11. July 2012 - Major New Customer Engagements Drive Strong Organic Revenue and Employee Growth

InnerWorkings, Inc. (NASDAQ:INWK), a leading global marketing supply chain company, today announced that it has entered the Brazilian market and is supporting multiple large global consumer packaged goods companies in the country. These enterprise relationships were initially based in adjacent Latin American markets and recently extended to Brazil.
“We have entered the Brazilian market in a major way and already have employees providing onsite and operational support. We expect new customer engagements to drive the hiring of as many as 40 additional employees in Brazil by this time next year,” said Eric D. Belcher, chief executive officer of InnerWorkings. “There is significant potential to roll out our solution in Brazil, and we are committed to growing in this market.”
“For example, we have been serving one of the world’s largest consumer packaged goods corporations in 15 countries when they started talking to us about helping in Brazil, one of their most important markets. Last month, we extended the relationship to Brazil and are building out our team to full strength,” Belcher added. “InnerWorkings’ global footprint and expanding local expertise puts us in a strong position to collaborate on concepts, materials and suppliers across countries and continents, delivering results that companies can’t get anywhere else.”
To support this growth, InnerWorkings has opened a new large office in São Paulo, at the Cidade Jardim complex, and hired Alex Castroneves as Managing Director, Brazil. Mr. Castroneves has more than 15 years of supply chain, consulting and procurement experience in Latin America, including serving as a Senior Principal at A.T. Kearney.
“I’m delighted to be joining InnerWorkings, a company with a strong track record of success in Latin America. Working closely with InnerWorkings’ President of Latin America Carlos Mena, we are establishing the benchmark for marketing supply chain excellence in Brazil,” said Alex Castroneves, managing director, Brazil at InnerWorkings. “The results of many corporations operating in Brazil are negatively affected by the costly layers of expense in their print supply chains. I encourage any corporate leader interested in benefitting from our solution to reach out to us to understand the prominent role we can play in reaching their objectives.”