three brothers remain in control of the flagships

three brothers remain in control of the flagships
three brothers remain in control of the flagships

The Pérez Companc family informed the National Securities Commission that it carried out a reorganization of family assets. As a result of this reorganization, Rosario, Pilar and Luis Pérez Companc will, from now on, have control of Molinos Agro, Pecom and Molinos Río de la Plata. A conglomerate of companies that employ They invoice more than US$4,000 million annually and directly employ around 11,000 people.

According to sources close to the company, The transaction is framed within an articulation of the individual interests of each of the Pérez Companc brothers. The key fact is that Luis Pérez Companc will continue to be, as he has been until now, the president of the board of directors of the three flagships of the group, Molinos Río de la Plata, Molinos Agro and Pecom, while Pilar and Rosario will continue as shareholders.

Meanwhile, based on this change in the shareholding composition and in the case of the firms Molinos Rio de la Plata and Molinos Agro, since a minority portion is listed on the local stock market, The firm is obliged to offer the possibility of purchase to the holders of these securities. The price will be duly reported to the CNV and would take as reference the value paid in the transaction or the average price of the shares over the last six months.

In this context, the collaborators of Molinos, Molinos agro and Pecom received today an internal communication in which Luis Pérez Companc explained that “with my sisters Rosario and Pilar, we redefined ourselves and built a new unity based on the values ​​that have always guided us. Because we share the passion and vocation to continue investing in Argentina, to enhance the growth of our companies with the value and courage of all of us who make them up.”

The plans

Luis Pérez Companc, President of Molinos, Molinos Agro, Pecom and Goyaike – Pérez Companc Group

Luis Pérez Companc, President of Molinos, Molinos Agro, Pecom and Goyaike – Pérez Companc Group

IDEA

Beyond this share reorganization, the truth is that The business plans of the three companies remain firm. In the case of Río de la Plata Mills, leader in the field of mass consumption foods that directly employs more than 2,500 people and invoices around US$2.5 billion per year, It recently changed its corporate statute to add more activities to its operations. The company’s board of directors thus seeks to incorporate other categories such as cleaning, hygiene and toiletry products, even pet food.

Molinos Río de la Plata’s strength is its extensive distribution network throughout the country along with its strong presence in the main supermarkets and supermarkets. So the company’s plan would be to add new areas, within mass consumption, to take advantage of its penetration into Argentine homes. Although no specific investment project is yet underway, the company has ruled out purchasing any company that operates in these areas.

On the other hand Molinos Agro is currently one of the main soybean processors in the Argentine agro-industrial complex with an installed grinding capacity of 6 million tons per year and is among the 10 most important companies in the export of cereals (corn and wheat), oilseeds and their derived products. This company, which competes with multinationals in the agro-industrial sector, directly employs around 600 people and had a turnover of just over US$1.9 billion last year, will seek to continue growing in this area that is so important for the generation of foreign currency in the Argentina.

Molinos Agro constantly invests in the maintenance and modernization of its grinding plants and to add storage capacity, according to company sources, the long-term strategic vision will continue to focus on these guidelines.

Finally, Pecom, the services, construction and products company for gas, oil, mining and electrical energy, which employs 8,500 people and invoices about US$800 million per year, will seek to continue exploring new business opportunities as it has been doing in recent years. Within this framework, its intention to operate some of the areas that YPF put up for public offering stands out. In this way, the energy company of the Pérez Companc group would go from providing services to directly operating a well.

 
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