16 March 2012 19:22 [Source: ICIS news]
PRAIA DO FORTE, BRAZIL (ICIS)--Brazilian chemicals distributor M Cassab plans to raise its revenues from $360m (€274m) to more than $500m over the five years to 2016, CEO Fernando Abrantes said on Friday.
The company, which is Brazil’s second largest chemicals distributor after Quantiq, intends to enlarge its product portfolio, build a new distribution centre in Sao Paulo and expand its Argentinean operations, he said on the sidelines of the 6th EBDQUIM conference, hosted by Associquim/Sincoquim, which is the Brazilian Association of Chemical and Petrochemical Distributors.
Abrantes, who joined M Cassab earlier this year, said the new product areas will be mainly specialties as well as some large commodities. He did not provide details of the new products.
The new distribution centre will be in Cajamar, near Sao Paulo, and require a $30m investment, Abrantes said. Work on the project will begin in July, with completion expected 18 months later, he added.
The new centre will bring efficiency improvements and allow improved synergies between M Cassab’s life sciences, chemicals and animal technology businesses, he said. Currently, the company has five warehouses in the Sao Paulo city region, he explained.
M Cassab is also investing in its food and feed pre-mix production, and expects to inaugurate a new production site for food pre-mixes in Mato Grosso do Sul in the centre-west of Brazil in June, Abrantes said.
($1 = €0.76)
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