Latin America. For Lennox, the economy in Argentina will be a question mark during 2013, due to the government's decisions to restrict imports of most of the products that arrived in that country in order to support local manufacturing and the high inflation rates that are currently registered there, according to the International Monetary Fund.
In an interview published by the AMERICAN newspaper The Miami Herald, in which this topic was discussed and the positive symptom presented by the Latin American region in terms of the state of the economy this year was also highlighted; Victor Mora, global operations manager at Lennox International gave his impressions regarding his company's participation in Argentina.
Regarding this situation, Victor commented that "we are not sure how the business of exchange control shakes up this year."
The representative of Lennox referred to the issue of Argentine import permits, which became a challenge for U.S. companies: "The permits are valid for 120 days and if we do not ship in that period of time we need a new one, which is not easy to get."
Likewise, Mora stressed that Venezuela is also a market where commercialization has been difficult, due to the internal problems that currently arise: "Venezuela is even more a question."
However, Mora is optimistic about the overall results in Latin America for Lennox. "This year will be a mix in terms of market. It all depends on whether you want to see the glass half full or half empty. I prefer to see it half full," he concluded.
