Breakaway traders launch new group

24 February 1997 00:00  [Source: ICB]

A new independent trading company Kolmar Petrochemicals Trading has been set up under the management of Ruth Sandelowsky, formerly head of Phibro's global petrochemicals operations.

The new company, established in late January, aims to meet both the short-term and long-term needs of the petrochemical industry, offering strong support on the operational as well as the financing side of the business, Sandelowsky told ECN.

This contrasts with the 'purely independent and speculative role performed by some other players in the market,' she added.

Kolmar will employ 15-25 people, the majority of which are former Phibro employees.

They will operate through a network of subsidiaries and agencies which will be located around the world, including Switzerland, the UK, the Netherlands, Turkey, Bulgaria, the US, Japan, Korea, Hong Kong, Indonesia, India and Brazil.

The company's core business will be petrochemicals. 'Other activities will relate to petrochemicals and will be considered in line with the industry's needs, as well as the company's position,' said Sandelowsky.

Kolmar intends 'to complement the industry needs in terms of geographical coverage, particularly in labour intensive areas, facilitating optimisation of logistics, providing financial tools and feeding quick and relevant market information,' added Sandelowsky.

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