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One of the issues that dominated the political scene after Gustavo Petro’s inauguration as Colombia’s president on August 7 was the eventual withdrawal of the Venezuelan government of Monomeros, one of Petro’s main proposals during the campaign, including that of President Nicolas Maduro. one of the requirements.
because it’s important? Monomeros is a key factor in Colombia’s economic development, as it produces about 40 percent of the fertilizers needed by the neighboring country’s agribusiness, one of its main sources of income.
The industrial park is vital to safeguarding the country’s food security, especially as the war in Ukraine and COVID-19 push up global fertilizer prices.
productivity
The company has an annual production capacity of 1.3 million tons of organic and inorganic materials for large-scale cultivation.
Some reports suggest that monomers could cover up to 46 percent of Colombia’s fertilizer distribution, and more than 70 percent of the agrochemical needs required by potato, coffee and palm growers.
In addition, its product portfolio includes large quantities of nitric acid, sulfuric acid, sodium sulfate, cyclohexanone, gypsum, soda ash, sulfur, caustic soda, phosphoric acid, ammonia, methanol and ammonia. All of these are essential for the pharmaceutical, food, soft drink, soap, paper, detergent, cement and paint industries.
Fertilizer products such as caustic soda, phosphoric acid and ammonia are exported to more than 50 countries, including Barbados, Bolivia, Costa Rica, Dominican Republic, Trinidad and Tobago, Panama, Peru and Ecuador.
Through Nutrimon and Ecofertil products, Monomeros provides farmers with the fertilizer their crops need to make their business profitable and guarantee the quality of their crops.
Likewise, the company provides farmers with sustainable technical support to implement their nutrition programs, which are always based on best plant nutrition practices.
infrastructure
The company has its own terminal in Barranquilla, which helps reduce shipping costs for buyers. Likewise, it operates with two petrochemical complexes: one at the mouth of the Rio Grande de la Magdalena; the other at the mouth of the Magdalena. Another Colombian port on the Pacific coast, Buenaventura, is a leader in foreign trade.
As for the Barranquilla Industrial Park, it covers about 52 hectares and houses 23 production plants.
At the same time, the compound fertilizer production capacity of the Buenaventura plant has been doubled, with storage capacity reaching 40,000 tons.
Monomeros was ranked 128th out of the country’s 1,000 largest companies in 2019 (before it was acquired by a conglomerate led by Juan Guaidó), according to data from Colombia’s Corporate Regulatory Authority. In his field, he is considered one of the top eight in the Caribbean.
According to the official Monomeros portal, it has created more than 600 direct jobs and more than 1,300 job opportunities through service providers.
Origin and development. Monomeros Colombo Venezolanos was established in 1967 as part of an integration plan between the two countries to capitalize on Venezuela’s potential as a raw material supplier and Colombia’s experience in the textile industry.
In December 1967, the public registration deed of Monomeros de Colombia was registered as a limited liability company, initially with the participation of the former Industrial Development Institute, Ecopetrol and the Venezuelan Institute of Petrochemicals, later known as Pequiven.is called
The following year, especially on June 12, the Dutch company Stamicarbon became a shareholder, the company name was changed, and the legal form of the company was changed to Monomeros Colombo Venezolanos.
On May 5, 1971, the first facilities of the complex were inaugurated in the city of Barranquilla, but the final assembly of the factory was completed in 1972 and the company was able to start operations. Commercial activity began on June 20, 1973.
On February 14, 1985, taking advantage of the benefits of the Cartagena Agreement, the company was transformed into an Andean multinational company and subsequently opened a branch in Venezuela, taking advantage of the advantages of a national company. Been proposed.
In 1990, Monomeros Colombo Venezolanos was associated with the Danish shipping company Clipper, and as a result of this alliance, the shipping company Compass Rose Shipping Ltd was established, offering specialized freight from Northern Europe, Scandinavia, the United Kingdom to Colombia and Venezuela Serve. , Spain, the United States and West Africa.
On March 9, 2000, it acquired a stake in Vanillon Corporation, a nylon and polyester filament manufacturer established in 1960, which closed in February 2012.
On August 7, 2002, it acquired Cargill, now known as Ecofertil. Committed to the production and sales of simple, compound fertilizers.
On April 18, 2006, Monomeros reached a turning point when Ecopetrol and Instituto de Fomento Industrial sold their stakes to Pequiven. On December 21, 2006, Pequiven purchased shares from the Dutch company Koninklijke DSM. With this last transaction, Pequiven’s participation is 100% capitalized.
Guaido and Duque’s anger
In 2019, following Juan Guaidó’s “self-declaration” as “interim president”, the country’s large assets overseas, notably the US-based Citgo, and the move to take over the management of Monomeros’ Series A here we go. , located in Colombia.
The move was backed by then-presidents Donald Trump and Ivan Duque in both countries, as well as EU nations. On March 19, 2019, the National Assembly, held in contempt by the TSJ, appointed an interim board led by John Bilbao.
The Monomeros theft, carried out by “Guidosystus,” freed the Trump administration from the blockade imposed in 2018 and began conducting financial operations without sanctions.
From that moment on, the company began to post significant losses and was intervened by company executives in September 2021.
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