Monomeros Sales Drop Nearly 40 Percent and Lose 90% of Their International Market – Guaidó Management

Monómeros, the petrochemical complex owned by Venezuela in Colombia, has lost 90 percent of its participation in the international market, and 15 percent of the Colombian local market, after Juan Guaidó’s “parallel government” took control of its operation.

While, in absolute terms, the volume of sales until November 2019 has fallen to 700 thousand metric tons compared to 1 million 100 thousand tons in 2018, according to a commercial intelligence report to which the journalism platform of La Tabla has access.

According to the report, the petrochemical company located in Barranquilla, just one month before the end of the year, has only managed to meet just over 50 percent of its budgetary and operational goals and has accumulated losses of more than 20 million Dollars.

The fall in sales has impacted the cash flow (which is negative), and has generated delays in the payment of suppliers that exceed 30 days.

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In the case of suppliers of raw materials, accumulated debts exceed 30 million dollars.

The effect of the administrative management of the complex (by former PDVSA managers appointed by Guaido, who participated in the 2002 oil sabotage) is operatively expressed in the fact that three of five plants are stopped according to the report dated November 27.

The Tricalfos, Solunkp and Mezclas plants are totally inoperative, while the Fuerza plant is at 50 percent and the NKP at 90 percent.

The Buenaventura facility operates at 30 percent and the docks are at 60 percent occupancy.

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Administratively, the report highlights that the SAP business system is currently not being used, which prevents traceability and internal information availability.
This situation is aggravated by the presence of a diversity of managers and executives that operate in a “mult-instruction” scheme. They all operate simultaneously.

Likewise, their incorporation into Monómeros has implied assuming a set of expenses such as salaries, travel, hotels, rental housing, food, transportation, vehicles and escorts, for an amount that will exceed 3 million dollars in 2019.

On the other hand, the perception of Monomers in the community has been severely affected by practices such as conducting “meetings” in bars and restaurants by managers and directors with representatives of the AN to “arrange” contracts.

Source URL: La Tabla Facebook Page

Translated by JRE/EF

Monomeros Sales Drop Nearly 40 Percent and Lose 90% of Their International Market - Guaidó Management