This significant increase has enabled Gemplus to increase its investment in the region through additional capital expenditures and has created new jobs in manufacturing and operations. The Cuernavaca facility opened in early 1997 with the goal of manufacturing and delivering cards for the fast growing Latin American market. Its development has helped ease export processes within the continent, leveraging the TLC, bilateral agreement with countries such as Chile, and the multi-lateral association with the Group of the Three. Currently, Gemplus cards are exported to Venezuela, Colombia, Peru, Panama, Argentina, Chile, St Martin and the Bahamas, Costa Rica and El Salvador . The volume of cards we have produced reflects the significant opportunity for smart cards throughout Latin America.
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