Tech Data closes Brazil ops

CLEARWATER -- Tech Data Corp. (symbol: TECD) will close its commercial operations in Brazil by the end of the year, a company release says.

“The closure is due to Brazil's complex tax, legal and regulatory environments, which make it difficult for the Company to generate a sufficient return on invested capital,” according to the release.

The Clearwater-based technology distributor will continue to do business with companies headquartered in Brazil, but will handle those transactions as export business, through domestically based facilities located in Miami.