Mexichem sees 8% rise in Amanco sales
Bnamericas Published: Tuesday, January 15, 2013
Mexican chemical company Mexichem (BMV: MEXCHEM) expects a rise of 8% in the sales of its Brazilian pipes and joints brand Amanco in 2013, Mauricio Harger, executive vice president of Mexichem Brasil said. In an interview with Valor Econômico, Harger said that 78% of Amanco's sales come from the residential construction market. The remaining 22% of sales come from the infrastructure and irrigation market, which was responsible for much of the company's sales growth in 2012, when there was a slowdown in the residential construction market. Total sales rose by 11.9% from 2011, ahead of the target of 8%. Harger said sales growth would have reached 14% if residential building projects had not been delayed. Harger said that the irrigation sector was a source of strong demand for pipes and expected double-digit growth in sales to the sector in the coming years. Irrigation and infrastructure will account for a larger proportion of Amanco sales in 2013. Mexichem Brasil will increase the price of its Amanco and Plastubos brands in the second quarter, to protect margins from rising costs, such as increased labor costs. It increased prices twice in 2012. In 2013, Mexichem Brasil will begin to use technology from Wavin, the Dutch piping and tubing manufacturer that Mexichem acquired in 2012. Mexichem Brasil will invest 131mn reais (US$64mn) in increasing its productive capacity, training, innovation and communication in 2013, an increase of 15%. Harger said that if Brazil continues to grow at the rate it was growing until 2011, the company may invest in a new plant in the country within the next five years. It is also possible that Mexichem Brasil could acquire competitors or suppliers, he said. Mexichem acquired Amanco in 2007.
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