30 de April, 2010

Juan Eduardo Errázuriz is elected CEO of the Sigdo Koppers Group

  Naoshi Matsumoto was appointed vice president of the conglomerate. The group plans to invest US $ 150 million in 2010-2011, in regards to the long term development plan. This is in addition to investments made by some of its companies.  

Juan Eduardo Errázuriz Ossa took over as CEO of Sigdo Koppers S.A., one of the leading business groups in Chile, with presence in the sectors of services, Industrial and commercial-automotive, through its 50 subsidiaries 

and affiliates. Meanwhile, Naoshi Matsumoto Takahashi was named vice president of the conglomerate.

 Thus, Juan Eduardo Errázuriz heads the Sigdo Koppers group and its subsidiaries Ingeniería y Construcción Sigdo Koppers (ICSK), Puerto Ventanas, CTI and Enaex, as agreed by the boards of these.

Errázuriz said that "today I take on the challenge of adding value to our group and all its shareholders, growing each one of our companies, with innovative and long-term vision that has characterized Sigdo Koppers during its 50 year history."

The Board of Sigdo Koppers was establishedat the ordinary shareholders meeting, resulting elected Jose Ramon Aboitiz Domínguez, Juan Eduardo Errazuriz Ossa, Norman Hansen Rosés, Naoshi Matsumoto Takahashi, Horacio Pavez García Mario Santander Garcia and Canio Corbo Lioi as an independent director.

During the meeting tribute was paid to Ramon Aboitiz, who until last April 6th presided over the company, highlighting in a very special mannerhis entrepreneurial spirit and his contribution to the country through the creation of companies. Along with this, also noted were his deep social sensitivity and dedication to public service.

Juan Eduardo Errazuriz: New CEO
Juan Eduardo Errázuriz Ossa -66 years old, married, 8 children-is a civil engineer from the Pontifical Catholic University of Chile. He is one of the founding members of the Sigdo Koppers group along with Ramon Aboitiz Musatadi, Norman Hansen Rosés, Naoshi Matsumoto Takahashi, Horacio Pavez García García and Mario Santander García.

With extensive business experience, until now he served as executive vice president of the Sigdo Koppers S.A. group and president of the subsidiary SK Bergé.

Atgremiallevel, Juan Eduardo Errázuriz is currently chairman of the Caja de Compensación Los Andes, advisor toSociedad de Fomento Fabril (Sofofa), advisor to the Cámara Chilena de la Construcción (CCHC), vice president and founder of the Chile-Japan Business Committee and an active member of CEAL, the Business Council of Latin America.

His long career has earned him several awards. In 2007 he was honored as "Outstanding Businessman" by the Foundation of Engineers of the Pontifical Catholic University of Chile. Furthermore, in 2002 he was awarded by the Emperor of Japan with the "Order of the Rising Sun, Golden Rays with Ribbon Necklace". Meanwhile, in 1997 he was awarded by the Government of Argentina the "Orden de Mayo, Degree of Commander".

Previously, he had been director of Banco Santander (formerly Banco Santiago), IBM International, ENDESA, Enersis, LAN, Emec (Electric Company of the 4thRegion), Empresa Eléctrica Pehuenche S.A., Pizarreño S.A., DICTUC and the Chile-European Community Business Foundation.

Business development

The General Manager of Sigdo Koppers, Juan Pablo Aboitiz said the group plans to invest US $ 150 million in 2010-2011, in regards to a long term development plan. This is in addition to the investments being made by some of the subsidiaries of the conglomerate, particularly the construction of a petrochemical plant in Peru, together with the Brescia Group, with a total investment of US $ 700 million.

In relation to the petrochemical plant in Peru, the basic engineering studies have finished and the environmental impact study was presented, which is in its final stage of approval. Thus, construction of the project is expected to begin, which contemplatesan ammonium nitrate plant and an ammonia plant, later this year.

It was also reported that to help the areas devastated by the earthquake, Sigdo Koppers will build a Technical Training Center in Talcahuano, a city with a special relevance for the conglomerate since it started its business there 50 years ago. This project will represent over a US $ 3 million contribution and its functioning is scheduled for the first half of 2011.

In 2009, Sigdo Koppers S.A. reported sales of US $ 1,440 million, representing a 17.6% increase over the previous year. Also, it reached a consolidated EBITDA of US $ 251.2 million and the earnings were $ 68.7 million, which represented an increase of 10.8% over 2008.

In the business of electric home appliances, late last year the shareholders meetings of CTI and Inversiones Frimetal S.A. approved by a large majority the merger of both, with which CTI positioned itself as a regional player in the industry of electric house appliances.

In the Commercial and Automotive Area, in 2009 SK Comercial S.A. (SKC) reported higher contribution margins in the distribution business, and in turn the strengths of the machinery rental businessbecame evident, which develops with great success through SKC Rental S.A.

In the area of Industrial Services, noteworthy is Ingeniería y Construcción Sigdo Koppers (ICSK) that during 2009 had a significant amount of activity, especially in the area of mining and energy, reaching a record high in terms of man hours worked. These activity levels should be maintained in the coming years.

Meanwhile, Puerto Ventanas, estimates for 2010 an increase of 15% in the total of loads transported, mainly due toan increase of transfers of coal, clinker and general cargo.