08 November 2010 14:26 [Source: ICIS news]
RIO DE JANEIRO (ICIS)--Brazilian chemicals distributor Quantiq revealed ambitious growth targets on Monday, following a decision by parent company Braskem to retain the business.
Quantiq president Fernando Abrantes said the company plans to grow its earnings before interest, tax, depreciation and amortisation (EBITDA) by at least 20% per year between 2011 and 2015.
“Braskem stopped the process to sell Quantiq last year, and in the first quarter of this year Quantiq became a strategic business of Braskem,” he said.
Quantiq intends to achieve its profits target by acquiring small distributors in ?xml:namespace>
“I think we’re going to make at least one acquisition next year,” he said. The total number of acquisitions could be four or five over the five-year period, he added.
The company has compiled a list of potential acquisition targets operating in market niches or product niches, Abrantes said.
Quantiq currently operates throughout
“Some of our customers have branches in other countries. We also want to supply those other branches,” he added.
Quantiq is expected to record an EBITDA of around reais (R) 36m-37m ($21.4m-22.0m, €15.3m-15.7m) this year, compared with R31m in 2009, Abrantes said.
The company was previously called Ipiranga Quimica, before it was absorbed into Braskem as part of Braskem’s acquisition of the chemical assets of Brazilian gasoline distributor Ipiranga.
($1 = R1.68, €1 = R2.35)
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