AT&T Co has established a joint venture company with its existing local partner, SID Telecon, to manufacture and sell AT&T telecommunications network equipment in Brazil: the new AT&T Network Systems do Brasil Ltda will receive an initial joint investment of $22 million by AT&T Network Systems, SID Telecon of the Machline Group, and Marcep, a company of Credibanco; AT&T will hold a 47% stake in the new company – to be headquartered in Sao Paulo, SID will have 51% and Marcep the remaining 2%, and it will initially manufacture and market the 5ESS switch locally.
