Ibermatica's Tecnet wins four contracts in Peru and Argentina

Tecnet, the subsidiary of the Basque company Ibermatica in America, will implement technological solutions to control a number of activities performed by the Chinese mining company Shougang and the agribusiness company, Chimu, in Peru.

The contract signed with the Chinese mining company, Shougang, in Peru consists in developing a new automation and communication system to enhance iron extraction and transformation processes and increase production.

Tenect will also supply IT infrastructure to the Argentinean Judiciary and install an optical fibre LAN between the Logistics and Assembly buildings at the Ford plant, also in Argentina.

Likewise, Ibermatica's subsidiary will modernize the technological infrastructure in seven of the official buildings of the Argentinean Judiciary and of the City of Buenos Aires.

Publication: Andina - English Newswire
Provider: Andina
October 27, 2009

Minera Koritambo estimates investment of USD 14.5mn up until May 2013

Peruvian mining firm Minera Koritambo, a subsidiary of Canadian mining company Apoquindo Minerals, has estimated that it will invest USD 14.50mn (EUR 9.66mn) between the end of 2009 and May 2013. The money will be invested in acquisitions and exploration at the Huarman (Ancash), Pachagon (La Libertad) and Zafranal (Arequipa) mining prospects.

Publication: Esmerk - News monitoring
Provider: Esmerk
October 27, 2009

Minmetals to begin constructing Galeno mine in 2010

Chinese mining firm Minmetals has reported that it will begin constructing its Galeno mine in Peru in 2010. The mine will produce copper, gold, silver and molybdenum from 2014. The project to develop the mine will require an investment of USD 1bn (EUR 666mn). A feasibility study has shown that the mine will be capable of producing some 144,000 tonnes of copper concentrate per year during its 20-year life span. Minmetals is part of a group of Chinese companies that will invest USD 6bn in Peru during the next three years.

Publication: Esmerk - News monitoring
Provider: Esmerk
October 23, 2009

Wood exports amount to USD 90.5mn between January and August 2009

In the first seven months of 2009, China was Peru's largest buyer of wood, importing a total of USD 37.50mn (EUR 25.37mn). The Asian country was followed by Mexico, which imported USD 19.5mn worth of Peruvian wood, according to information provided by Peru's exporters association Adex.

Peru's forestry industry's exports totalled USD 90.5mn between January and August 2009, a 41% fall compared to the year-earlier period. Of this total, USD 36mn comprised of semi-processed wood products, USD 33.8mn comprised of processed timber and USD 9.2mn comprised of chipboards. Peru's leading exporters, as far as the wood/timber sector is concerned, were Maderera Bozovich, IMK Maderas, Maderera Vulcano, Triplay Amazonico, Consorcio Maderero, Nature Word, Weiman, Nature America and Industrial Ucayali.

Publication: Esmerk - News monitoring
Provider: Esmerk
October 14, 2009

Sissa and its dummies to invade South America

The advertising services supplier Sissa, pertaining to the De Azambuja family, started out developing advertising dummies (plastic made), willing to keep growth rate of 8% - 10% per year. It already plans to be opening offices in Chile, Ecuador and Argentina. Jaime de Azambuja, general manager Sissa, states that in the next months the supermarkets, commercial centers, bodegas and cinemas will be filled up with dummies advertising the launch of new products. Advertising campaigns totalled investments of US$5mil in 2005, figure that rose up to US$60mil in 2009 and would increase 10% as of 2010, according to Jaime. In order to advance in the market, Sissa has invested US$3mil in the acquisition of the first dummies manufacturing machine in Latin America.

Publication: SABI - Business News
Provider: South American Business Information
October 8, 2009

Construction of Huachipa water treatment plant is 5% ahead of schedule

It has been reported that construction of the Huachipa water treatment plant in Lima is now 32% complete, which is 5% ahead of schedule. Consorcio Huachipa, the company in charge of the project, has invested USD 105mn (EUR 71.33mn) to date, of a total of USD 304mn. It has been reported that the plant will be officially opened in December 2010 and that water treatment will start three months earlier than first anticipated. The plant will have a processing capacity of 10m3 of water per second and will benefit some 2.4mn people.

Consorcio Huachipa is formed of Brazilian company Camargo Correa and French firm OTV. The consortium will operate and maintain the plant for four years.

Publication: Esmerk - News monitoring
Provider: Esmerk
October 8, 2009

BCP to buy additional US$5.19mn stake in microlender Edyficar

Peru's largest bank Banco de Crédito (BCP) has reached an agreement with IFC to buy the latter's 5.4% stake in Peruvian finance company Financiera Edyficar for US$5.19mn, BCP said in a filing with local securities regulator Conasev. Early September BCP announced the acquisition of a 77.2% stake in Edyficar from NGO CARE, and last week the bank announced the purchase of an additional 8.5% stake in the finance company from US-based Microvest.

BCP will pay for the IFC stake with its own funds and hold 91.1% of Edyficar's total stock after the transaction.

Peru's financial services regulator SBS on October 2 approved BCB's acquisition of up to 100% of Financiera Edyficar's equity, the filing said. BCP is also required by local capital market rules to make a public stock offering to acquire Edyficar's remaining shares.

Micro loan-focused Edyficar, which BCP said in September it valued at US$96mn, had a loan book of 619mn soles (currently US$215mn) at the end of July.

BCP was the country's second largest player in microenterprise loans as of end-July, with 1.82bn soles in such loans, giving it a 35% market share. It followed only Mibanco, which had 2.03bn soles in microenterprise loans for a 38% market share.

Edyficar, which has 195,000 clients, will continue to operate independently, maintain its brand name and continue to focus on providing financial services to low-income earners, according to a previous statement from BCP.

Publication: Andina - English Newswire
Provider: Andina
October 7, 2009

Camposol promotes red globe grapes in Asian market

Camposol, a leading agroindustrial company in Peru, has participated in the Asia Fruit Logistica to promote their new product: the table grape variety Red Globe.
The Red Globe grapes they are currently promoting, are cultivated in the region of Piura (Peru) and the production window fits perfectly with the needs of Asian demand.

However, they have already had good experiences with the promotion of green and white asparagus, which is their main product and has been directed mainly to Japan, with annual and seasonal sales. They also have experience exporting with mango to New Zealand.

The company has as its main markets in Europe (Spain, France and the UK) and the USA.

While the financial crisis has been a recurring concern of the economic operators, Camposol has been able to consolidate by opening some offices closer to the buyers.

Publication: Andina - English Newswire
Provider: Andina
October 5, 2009