APLA '12: Colombia's Grupo Mundial to expand in Latin America

13 November 2012 19:15  [Source: ICIS news]

RIO DE JANEIRO (ICIS)--Colombia-based chemical producer and distributor Grupo Mundial aims to boost its presence in Latin America, an executive said on Tuesday.

"Right now we are targeting Brazil as well as Mexico. In chemical distribution, we have a strong position in Colombia, and we think we can be bigger in Brazil," said procurement manager Marco Aurelio Siqueira.

He spoke on the sidelines of the Latin American Petrochemical Association (APLA) annual meeting.

Grupo Mundial also plans to expand its unsaturated polyester resins (UPR) business across Latin America.

"We are also moving towards verticalisation to aggregate more services in our UPR business," said Siqueira.

The company, with annual sales of around $1.5bn (€1.2bn), is a major producer of UPR in Latin America. Its other major businesses are in paints and coatings, distribution, UPR-based water pipes and wholesale of consumer goods.

Siqueira expects prices in Latin America to remain at high levels as producers seek to keep a tight supply/demand balance.

"Demand won't be good, but supply of certain raw materials may be tight in the first quarter of 2013," said Siqueira.

On the UPR side, feedstocks styrene, glycols and maleic anhydride (MA) are expected to be volatile in 2013, he added.

The APLA conference ends on Tuesday.

($1 = €0.79)

By: Joseph Chang
+1 713 525 2653

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