Iron Mountain expects 20% growth in Latin America

- Thursday, March 31, 2011

Iron Mountain expects 20% growth in Latin America

US document management services (DMS) company Iron Mountain (NYSE: IRM) expects its Latin American sales to increase 20% this year, the company's regional VP for marketing and sales, Ricardo García, told BNamericas.

Iron Mountain will shine the spotlight on its bread-and-butter physical document management offering, but also work to position complementary solutions.

"We are extending our service with software as a service solutions, where we utilize technology from business processes management providers," he said. "We are complementing the physical document administration solution with the administration of related processes."

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Iron Mountain recently invested 6mn reais (US$3.6mn) in two data centers in Brazil.

The two centers will allow Iron Mountain Brazil to double the amount of data previously handled, and will provide a basis for further information storage growth, according to marketing and sales director Rogério Abruzzini.

2010 SUMMARY

New contracts in the financial, healthcare, retail and insurance sectors drove a nearly 20% increase in Iron Mountain's Latin American sales last year, García said.

Chile represents one of the company's most significant regional markets, and the executive acknowledged that Iron Mountain needed to work to bounce back from the February 2010 magnitude-8.8 earthquake.

"Within a matter of a few months, we were fully operating our plants," he said. "We worked on the recovery of our operations."

Still, since the quake, the company's Chilean division has "seen a significant increase in new clients," according to García.

"I'm not only talking about small companies, but also about large banks and other institutions that switched providers."

Globally, Iron Mountain recorded a net loss of US$54mn last year, compared with a net profit of US$221mn the previous year. Annual revenues reached US$3.13bn last year, up 4% compared with 2009.