Enka sells products into new markets in 2009

Colombian polymers and polyester synthetic fibres manufacturer Enka managed to reduce its losses in 2009, standing at COP 10.87bn (EUR 4.17mn USD 5.62mn), in comparison to 2008 (COP 27.0bn) because the company broke into new markets, especially in Europe. In addition, the firm improved operations, increased net revenues and obtained additional revenues because of the exchange rate with the US dollar.

Company Ebitda stood at COP 2.94bn in 2009, compared to COP 2.76bn in 2008. The company diversified and increased exports in 2009, compared to the previous year, by selling chemical products and textiles to new clients in Brazil, Mexico, Argentina, the US, Canada, France, Spain, Portugal, Italy, Netherlands, Belgium, Denmark, Norway, the Czech Republic and Turkey.

Publication: Esmerk - News monitoring
Provider: Esmerk
February 22, 2010

Biocom to invest USD 12mn in tyre-recycling plant

Italian-Colombian company Biocompania (Biocom) has announced plans to invest USD 12mn (EUR 8.59mn) in a new tyre-recycling plant in La Tebaida, in the Colombian department of Quindio. The new 10,000m2 facility will become operational within three months. It will hold the capacity to process 60,000 tonnes of tyres per year, although it will initially operate at only 20% of its full capacity.

Some of the products Biocom will produce by recycling tyres include rubber dust which can be used in the elaboration of certain types of asphalt. It is estimated that around 5mn tyres, including motorbike tyres, are disposed of every year in Colombia.

Publication: Esmerk - News monitoring
Provider: Esmerk
February 3, 2010

Acesco set to start-up new HDG line in January

Colombian cold rolled and hot-dip galvanized coil producer Acerías de Colombia (Acesco) expects to commission its new 85,000 tpy HDG line in January, and is already targeting a total HDG capacity of 250,000 tpy. The line will be the company`s second, with the first able to produce up to 140,000 tpy, president Carlos Arturo Zuluaga told MB on the sidelines of Ilafa`s 50th Latin American annual steel conference in Quito, Ecuador. Acesco has also a cold rolled coil line with installed capability of 250,000 tpy.

"At the moment, output is strong, following a demand recovery which started a few months ago after the world economic crisis that affected the Colombian market in late 2008," Zuluaga said. Two months ago, Acesco started a 35,000 tpy prepainting line at its works reflecting optimism in the local market. The line was ready late last year, but the company delayed the start-up until market conditions improved, said Zuluaga.

Acesco still imports hot rolled coil from Brazil`s ArcelorMittal Tubarão and Japan`s Nippon Steel, but it also receently started sourcing hot rolled coil from Japan`s JFE. "We are also negotiating to buy HRC from Usiminas," the executive said. Purchases of hot rolled coil from Venezuela`s state-owned steelmaker Sidor have decreased this year following technical and political problems at the mill. Acesco also controls two plants in Costa Rica: HDG maker Galvatica and structural and welded pipes producer Tubotico, each operating at close to their respective 200,000 tpy capacities, Zuluaga added.

Publication: Metal Bulletin
Provider: Metal Bulletin com
October 27, 2009

Acerías Paz del Rio asks Colombia for free trade zone

Colombian steelmaker Acerías Paz del Rio will ask the national government for a free trade zone declaration for its Belencito mill, enabling the company to secure special tax treatment for local and foreign trading.

According to an APR statement seen by Steel Business Briefing, the request was approved by the steelmaker’s board on 9 May.

The project is part of a program developed by Votorantim, APR’s parent company, to improve the Colombian mill's competitiveness and to make viable new investments planned by the group.

As previously reported, Votorantim, is studying investments of US$210m to upgrade its production capacity over the next three years, but the project is still subject to the board’s approval.

Publication: SBB - Steel Business Briefing
Provider: Steel Business Briefing
Date: May 20, 2008

Fogel Andina gets started in the Valley del Cauca

Colombia's Valley del Cauca is to serve as an export platform for the firm Fogel Andina, a producer of refrigeration equipment new to the nation. Fogel has invested US$5mil in its production plant in the Zona Franca del Pacifico. It aims to produce 10,000 fridges and freezers in year one, having set up in Colombia to reduce its sales costs in the region (also including Ecuador, Venezuela and Peru).

Its leading local client is the (now multinational) Bavaria-SabMiller, the two firms first having worked together a few years back in Guatemala. Andres Sinisterra, Fogel Andina director, states that the aim is to post a turnover of around US$9mil in year one, 50% stemming from exports.

Publication: SABI - Business News
Provider: South American Business Information
Date: February 11, 2008

Colombia's Acesco working to complete HDG expansion by Q4

Colombian steel coater and distributor Acesco is carrying out its hot-dipped galvanizing expansion project at its Malambo plant in northern Colombia and is expected to commission it by the fourth quarter, a source from the company tells Steel Business Briefing.

The project should double the Malambo plant's HDG capacity to 320,000 t/y. Acesco is also mulling construction of a colour-coating line, as previously reported by SBB. The Colombian mill recently acquired Costa Rican HDG producer Galvatica and says it intends to supply Central American and Caribbean markets from the newly acquired mill.

"We are working to commence operations in September/October, but it will depend on several things, such as equipment suppliers' deliveries, for instance", he comments. Acesco is a major steel group in Central America, the Caribbean and Colombia, with operations in countries like Puerto Rico, Panama and Costa Rica.

Publication: SBB - Steel Business Briefing
Provider: Steel Business Briefing
Date: January 29, 2008

GE looking to grow on many Colombian fronts

The US giant General Electric (GE) wants to enter new businesses in Colombia and expand in areas where it already has a Colombian presence, announces the president of GE for Northern South America, Fabiola Sojet. One priority identified is growth via Colpatria with products such as credit cards whilst organic and non-organic growth will both be embraced (GE wants to buy another Colombian bank if possible); further micro-credit opportunities for GE Money will be sought whilst the multinational also wants to grow its role as a supplier of equipment and technology for infrastructure in sectors such as rail, air, ports and basic sanitation.

GE is in talks with Odinsa about becoming a partner in the expansion of the freight terminals at Eldorado airport. It has also been in talks regarding becoming a partner in the logistical centre Porta, set to go up near Eldorado, planned by Ospinas. GE is considering building or buying a plant for the manufacturing of chemicals used to purify water.

It is also close to sealing an alliance with Nalco de Colombia Limitada. GE Colombia, which doesn't include electrodomestics or financing, expects to post sales of US$135mil in 2007 and US$180mil in 2008. In association with Mexico's Grupo Mabe, GE has a white-goods factory in Manizales.

Publication: SABI - Business News
Provider: South American Business Information
Date: December 29, 2007