cachimayo_cuzco
June 18th, 2018

We acquired 70% of the Cachimayo Plant in Peru

With this purchase, we hope to strengthen our presence in the Peruvian market and consolidate ourselves as one of the largest nitrate producers in the world.

Enaex acquired 70% of the Cachimayo plant, the only ammonium nitrate plant in Peru. The plant belongs to the Gloria Group, one of the largest conglomerates in the country.

This purchase will help to form a strategic alliance with the Peruvian holding –which will continue to be part of this company-, in order to develop a roadmap, make investments and direct the growth of Industrias Cachimayo, while offering our international experience here at Enaex.

For Juan Eduardo Errázuriz, Chairman of the Board, “our purchase of Cachimayo is an important milestone for Enaex, as it reflects the company’s ongoing interest in providing its clients with added value and consolidating itself in the international markets. We believe it is extremely important to continue to position ourselves in the Peruvian market, which has experienced significant growth during the last few years, and what better decision than to do so at the hand of the Gloria Group, one of the largest conglomerates in Peru.”

Business Development

The alliance between Enaex and the Gloria Group is part of our strategy to position ourselves as one of the greatest ammonium nitrate producers in the world. Under the direction of Enaex Peru, this agreement seeks to develop three pillars:

The company’s people: the objective here is to foster the talent and market knowledge of the Cachimayo workers, as well as to create new positions.

Infrastructure: we expect to make significant investments in order to expand production capacity.

Safety and Environment: To guarantee the best working conditions and meet the highest environmental standards, with the goal of achieving sustainable growth that is in sync with the communities.

Consolidation

Industrias Cachimayo has a production capacity of 35,000 annual tons of ammonium nitrate. The company, which is located in Cuzco, began its operations in 1962 and currently operates with one of the main mining companies in the region.