Beneficial interest Sofinim: 30%
AvH Contact: Matthias De Raeymaeker
The overseas branches are mainly active in the logistics services and distribution of chemicals. For this activity, Manuchar invests as much as possible in the supply chain of the customers. In 2013, new warehouses were completed in Chile, El Salvador, Colombia and Vietnam, while construction work began on new warehouses in Ecuador and Argentina, worth a total investment of 16 million USD. Those investments give the branches better control over the quality of service, a leaner cost structure, and more long-term certainty for customers. Manuchar is now well on the way to gaining a top three position on the chemicals distribution market in those growth markets, despite a turbulent year in terms of exchange rates, and to this end will further expand the product portfolio and the support given by suppliers.
2013 was also a very positive year for steel and non-ferrous trading activities, under Manuchar Steel and Baubur respectively, with a vigorous increase in turnover. Manuchar limits its risks in all trading activities by engaging in back-toback trading, hedged by solid credit insurance. Manuchar Steel sources primarily from China, Turkey, India and the CIS countries, and focuses its sales on the growth markets of Latin America, Africa, the Middle East and Asia.
Manuchar also actively trades in other commodities such as polymers, paper, pharmaceuticals, automotive, and wood. As part of its strategy to become the main exporter of hardwood in Europe, Manuchar took over the operations of one of its main suppliers in 2013, thereby securing its long-term sourcing by this upward vertical integration. A new business unit was also set up in 2013 for worldwide trading in products of the cement industry, such as clinkers and slags.
Manuchar will continue its vertical integration in 2014 with the start-up of a production facility in Mexico for sodium sulphate, one of its main chemicals. As world market leader in the distribution of sodium sulphate, Manuchar wants to meet the demand for alternative sources to the strongly China-dominated production, and at the same time ensure even better control over quality, from extraction to delivery to the customer.
|19/06/2007||AvH acquires a 20%-stake in Manuchar|