Byrna Technologies Inc. has announced the formation of a new subsidiary, Byrna LATAM, based in Montevideo, Uruguay.
According to the company, the new subsidiary will be responsible for the manufacture, sale and distribution of its products throughout Latin America. The company is in the process of setting up manufacturing operations in Buenos Aires, Argentina. By manufacturing inside the Mercosur free-trade zone, Byrna believes it can save as much as 30% in tariffs, duties and freight costs. Production is expected to begin in February.
The company has also hired Maximiliano Garimaldi as CEO of Byrna LATAM. Garimaldi is an engineer by training and has an MBA from Austral University in Buenos Aires. He brings almost 30 years of experience to the position having worked for such well known international companies as Phillips and Sodimac where he was the operations manager for Argentina and Uruguay. Most recently, Garimaldi was the COO of Moova, an Argentinian based technology company.
“By establishing Byrna LATAM and manufacturing Byrna’s line of less-lethal pistols and rifles inside the Mercosur free-trade Zone, Byrna believes that it can make significant inroads into the South American market for personal self-defense. South America is already Byrna’s fastest growing market, accounting for 10% of the company’s total worldwide sales in 2022,” said Bryan Ganz, CEO of Byrna.
“Central and South America have always had a strong gun culture, however, it is often very difficult for civilians in this region to purchase a firearm or to take their firearm with them outside of their home. Byrna provides these consumers with a safe, effective, reliable and most importantly, legal option. With the rising civil unrest in Central and South America, many civilians fear for their safety and the safety of their family members.”