Neogen Corp. (NEOG) announced the formation of a new subsidiary in Brazil, Neogen do Brasil. The new company, headquartered near Sao Paulo, will distribute Neogen's food safety products throughout Brazil.
Neogen do Brasil was created to accelerate the success of Neogen products in Brazil. Based on recent sales performance, Neogen's new company will start business with an annual revenue base of approximately US$1 million. Josue Furtado Fihlo will manage the new company, and Flavio Mello will serve as the company's sales manager.
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