Monómeros, petrochemicals owned by Venezuela in Colombia, has lost 90 percent of its participation in international market, and 15 percent of Colombian local market, after Juan Guaidó’s “parallel government” took control of his operation.
While, in absolute terms, the volume of sales until November 2019 fell to 700 thousand metric tons compared to 1 million 100 thousand tons in 2018, according to a commercial intelligence report by LaTabla investigative journalism platform had access.
When there’s barely a month left until the end of the year, Monómeros has only managed to meet just over 50 percent of its budgetary and operational goals and already accumulates losses of more than 20 million dollars.The fall in sales has impacted the cash flow (which is negative), and has generated delays in suppliers payment exceed 30 days.
While in suppliers case raw materials accumulated debts exceed 30 million dollars.
The administrative management of the complex effect(by former PDVSA managers who participated in 2002 oil sabotage) is operatively expressed in fact, three of five plants are stopped according to report dated November 27.Tricalfos, solunkp and mixtures plants are totally inoperative. While the force is at 50 percent and the NKP at 90 percent.
The Buenaventura facility operates at 30 percent and docks with 60 percent occupancy.
The report highlights SAP system is currently not used, which prevents traceability and information availability.
This is aggravated by the presence of diversity managers operating in a “multi-instruction” scheme. . All bosses simultaneously.
Also its incorporation to Monómeros has implied to assume a set of expenses like salaries, trips, hotels, rent, food, transport, vehicles and escorts, for an amount will exceed 3 million dollars in 2019.On other hand, Monómeros perception in the community has been severely affected by practices such as conducting “meetings” in bars and restaurants by managers and directors with AN (National Assembly) representatives to “frame” contracts.
On Friday, September 20, the Minister of Petroleum and President of Petróleos de Venezuela, SA (PDVSA), Manuel Quevedo, accused the self-proclaimed Juan Guaidó and the President of Colombia, Iván Duque, of dismantling the company “Monómeros Colombo-Venezolanos”, a subsidiary of Petrochemicals of Venezuela (Pequiven) belonging to the PDVSA holding.
In Monómeros, which is Venezuela’s number two asset abroad, “a looting operation” was carried out by the envoys of the opposition parliamentarian and [Quevedo] urged the authorities to open an investigation.
Pequiven, the main Venezuelan petrochemical company, bought in 2006 100% of the shares of the Monómeros company, which in the past was managed by a consortium of Colombian public and private companies.
The company manufactures the fertilizers required by the agricultural sector. Yearly, the company has the capacity to produce 1.3 million tons of organic and inorganic substances for large-scale planting.
