Category: Business

Information regarding the business sector.

Tecnopor: sales dropped by 75%

Tecnopor SA, one of the country’s leading manufacturers of expanded polystyrene and pre-stressed beams, dismissed 52 of 72 workers from its La Paz branch. The company took this action because its sales fell by 75% due to the coronavirus pandemic.

Start-up of Fancesa project postponed to Q1 2021

The coronavirus pandemic has seen a readjustment of the work schedule of the new plant being built in Sucre, Bolivia, by Fancesa as COVID-19 forced a 70-day quarantine upon the project. Start-up of the cement plant is now expected in the first quarter of 2021. While the project currently stands at 91 per cent completion, the remaining share of the work is the “most complicated”, according to Armin Cortez, chairman of the Board.

Bolivia’s ESM to export 250,000 mt of iron ore to Argentina and Germany

Bolivian state-run iron ore and steelmaking company Empresa Siderurgica del Mutun (ESM) plans to export 250,000 mt of iron ore to clients in Argentina and Germany by year-end, the Bolivian ministry of mining said. ArcelorMittal’s Argentinian subsidiary, Acindar, and ThyssenKrupp in Germany should get the commodity. The 250,000 mt iron ore shipment should generate $7.1 million in revenues.

Ecofuturo is soon to have a credit portfolio of $500mn

Ecofuturo, one of the youngest banking entities in Bolivia will have a credit portfolio of $500 million in the coming months, said the general manager of the entity, Gustavo Garcia. In an interview with La Razón, he said that as of May 31 the bank has 330,000 customers, including savings and current accounts and 70,000 credit customers.

Capstone Turbin signed first long-term FPP service contract in Bolivia

Capstone Turbine Corporation, the world’s leading clean technology manufacturer of microturbine energy systems, announced that it continues to expand its market presence in Latin America with its first long-term Factory Protection Plan (FPP) service agreement in Bolivia for a 600 kilowatt (kW) microturbine system. Despite the recent impact from Covid-19, the countries in Latin America represented 13% of Capstone’s total revenues in the fiscal year ended March 31, 2020, compared to 12% of total revenues in the prior fiscal year.