The CEO of the group, Juan Eduardo Errázuriz said that several companies are working on expansion projects, focusing on the search for new opportunities.
Sigdo Koppers SA intends to carry out an aggressive investment plan of about US $ 300 million during 2011, in the context of its long-term development, as informed today at the Ordinary Shareholders’ Meeting. Of these, US $ 150 million will be invested in development projects of its various subsidiaries and US $ 150 million correspond to financial investments such as the recent increase in participation of Sigdo Koppers in Enaex.
In his presentation to shareholders, the CEO of Sigdo Koppers, Juan Eduardo Errázuriz, noted that "the positive outlook for our businesses in the industrial, service and commercial areas along with the long-term investments that we are making, allow us view 2011 with great optimism, and also the future in general.”
The executive also noted that "several of our companies are working on expansion projects, at a corporate level we are focused on finding new business opportunities and projects that will allow us to expand the growth of Sigdo Koppers".
Among the initiatives of the conglomerate for 2011, there is one that stands out. It is the petrochemical project that, through its subsidiary Enaex and together with the Brescia Group, it is ready to develop in Peru, which considers a total investment of around US $ 800 million. With this, Sigdo Koppers seeks to position itself as a leader in Latin America in mining services along with the Brescia group.
For this year, the company has alsocontemplated an important investment plan for Puerto Ventanas, of US $ 26 million, which will be used for Puerto Ventanas and Fepasa projects.
Also, noteworthy is the investment of US $ 30 million in building a stove and no frost refrigerator factory in the industrial sector of Rosario in Argentina, through Gafa, electric home appliance brand represented by CTI. This factory is expected to start producing stovesin early 2012, with an annual projection of 100,000 units of stoves and 350,000 units of refrigerators.
In the commercial and automotive area, Sigdo Koppers through SKBergé will seek to consolidate its presence in the Peruvian, Colombian and Chilean markets through new brands of cars. Recently, the company exercised its option to increase its stake in Santander Consumer Chile, a company dedicated mainly to car financing. Thus, SKBergé raised its stake to 49% in the property and Santander Consumer Finance reached the remaining 51%.
Meanwhile, SK Comercial, through its subsidiary SKC Rental projects to significantly expand its presence in Chile, Peru and Brazil.
In the area of Corporate Social Responsibility, Sigdo Koppers will open this year the new Technical Training Center in the city of Talcahuano, 8th Region in Chile, which seeks to help reactivate the areas devastated by the earthquake. The project represents an investment of over $ 2,500 million, is located on a plot of 3,600 m2 and has a building of 1,800 m2, with 14 classrooms for 30 students each. This facility will allow the study of eight carreersbya total of 400 students per day. Also, it has a theater and a library which will be open to the local community. It is expected to be inaugurated the last quarter of this year.
Also approved at the Ordinary Shareholders’ Meeting were the annual report, the balance for the year ending December 31, 2010 and the report of the corresponding external auditors the same year. It was also agreed to distribute a final dividend of US $ 25 million, equivalent to US $ 0.03125 per share.
In 2010 Sigdo Koppers registered a record profit of US $ 112.915 million, increasing 62% over the previous year. The consolidated company revenues reached US $ 1.834.millones, an increase of 28.6% compared to 2009. This increase was the combined effect of significant sales increases in almost all its subsidiaries. Meanwhile, the consolidated EBITDA totaled US $ 300.3 million, up 20.9% compared to the previous year.
In the industrial area, Enaex opened the world's largest production plant of ammonium nitrate for mining use, incorporating a fourth production plant, Panna 4,to the premises of Prillex América, located in Mejillones, 2nd Region.
Note also that Enaex began the Carbon Credit Project in the Panna 1 Ammonium Nitrate plant, Carbon Footprint Project for the chemical business of Enaex S.A., and participation as a shareholder in the first Climate Exchange in Latin America, called Santiago Climate Exchange.
In the area of Services, Engineering and Construction, Sigdo Koppers reached a historical record of activity, carrying out projects totaling 27.4 million man hours, a figure which is 49.3% higher than in 2009. At the end of the year it was developing eight major projects in Chile and six in Peru.
Sigdo Koppers is one of the leading business groups in Chile, with a history of 50 years and presence in the Services, Industrial, Commercial and Automotive fields.