Brazilian industrial gases producer IBG saw revenues increase 5% to some 90mn reais (US$48.7mn) in 2009 compared to the year earlier, according to company president Newton de Oliveira.
Despite the improvement, revenues did not measure up to IBG’s growth projections last year.
“The performance reflected the economic environment in Brazil and globally,” the executive told BNamericas, adding that the slowdown in industrial sectors negatively impacted IBG’s sales during the year.
IBG had previously forecast sales growth of 25% compared to 2008, but while several sectors of the economy saw an upturn in the second half of the year, demand for industrial gases remained weak.
The company invested a totaled US$30mn in 2009. The investments went toward expanding production of air gases – oxygen, nitrogen and argon – constructing a new CO2 plant in Descalvado, So Paulo state, and modernization of the company’s distribution area.
For 2010, Oliveira projects investments of US$15mn in new offices throughout the country, in addition to further improvements in distribution and transport.
The company’s investments are focused on increasing IBG’s current market share of 3% in Brazil. “We plan to increase the share to 15% over the next 10 years,” the executive added.
IBG is headquartered in Jundia, So Paulo state, and has five production sites and 15 filling stations throughout the country. IBG opened a new 12,000t/y carbon dioxide production plant in November 2009.
The full interview with Newton de Oliveira will be published on Monday, for subscribers only.
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