Mr. Fix-it.

IT TAKES MORE THAW AN economic downswing to defeat The Home Depot's man' in South America. In 1998, Bill Pena took the Atlanta-based home improvement stores to Chile, just as the Asian crisis was grinding the Chilean economy into recession. The move marked the US$38 billion company's first venture outside North America.

But the recession proved no match for The Home Depot, which won over Chileans with its "Hagalo Usted Mismo" motto. Today the chain's five outlets in Santiago and Concepcion are busy and three more stores are planned for 2001.

Now Pena is tackling Argentina, where the economy is stagnant and the construction sector is abysmal. The Home Depot recently unveiled the first two of eight stores planned for Argentina, also by the end of 2001. LATIN TRADE'S Matthew Estevez speaks with Pena, The Home Depot's regional president for Chile and Argentina.

Why are you drawn to recession-ridden economies?

That's when The Home Depot prospers. What's very important to our customers during tough times is "tightening up their belts" rather than buying a new home or paying for repairs. The same thing is now taking place in Argentina.

Did you approach Argentina differently than Chile?

There are some similarities but there are also a lot of dissimilarities. For example, both of them have European tastes, but Argentina even more so.

For example?

The faucets [in Argentina] are more Italian in style. The colors are more pastel and not as bright as in other Latin American countries. Another example is the bidet. In Argentina it doesn't matter if you're upper, lower or middle class, everyone has a bidet. For every toilet, we have a matching bidet.

Does the average person have time to install a bidet?

Our percentage of professional [craftsmen] is higher than our typical stores in the U.S. But we do a lot of clinics, depot guias, where we show simple steps--one, two, three--how to install a faucet, how to change a lock, how to lay out ceramic tile, hang wall paper. All our classes are full.

Have you started any improvements to your new home in Buenos Aires?

(Laughter) I've been waiting for The Home Depot to open, because I needed to buy some new light fixtures. I just became a member of the Buenos Aires golf club, so I'm mostly looking forward to that.

Did the De Ia Rua administration's $20 billion public works initiative influence your decision to enter Argentina?

It was one of the factors, but it wasn't the only factor. The government recognizes that we can help start the economy in a positive way in the construction industry. We employ about 500 contractors during the five- to six-month period in which the stores are built.

And when the stores are finished?

Since we buy about 80% of our products locally, that spurs more production and keeps people employed. We also hire about 300 associates per store. With eight stores, plus our store support center, all of a sudden The Home Depot becomes a significant employer in Argentina. Before we opened our first store ... we quit counting after receiving over 30,000 job applications. That made it possible to hire some very quality people.

What's next?

Our immediate focus is on these two countries. We are looking at Brazil and Mexico and others but nothing at this point.