Compañía de Empaques Full-Year 2019 Profits Improve Year-on-Year
Medellin-based Compañia de Empaques — manufacturer of more than 1,500 types of packaging materials and fibers for industrial, agricultural, construction and infrastructure sectors – on February 10 revealed in a filing with Colombia’s Superfinanciera oversight agency that its full-year 2019 profits hit COP$12.8 billion (US$3.77 million), up from COP$10.6 billion (US$3 million) in 2018.
At its upcoming shareholders meeting March 4 in the Medellin suburb of Itagüí, the company’s board proposes to pay COP$5.9 billion (US$1.7 million) in dividends, with monthly payments of COP$40 (US$0.01) per share between April 2020 and March 2021, according to the filing.
Compañía de Empaques — which produces more than 30,000 tonnes per year of products and employs a workforce of 1,500 — boasts of more than 75 years of experience in “transformation of natural fibers and plastic resins into practical [packaging] solutions.”
Products include “sacks and fabrics of synthetic fiber and natural fiber, zunchos [specialty threads and cords], packaging meshes, shade fabrics for the protection of crops, natural and synthetic fiber rope, erosion-control mantles, mesh and plastic protection and enclosure fabrics, printable input solutions for signage, advertising and commerce, and packaging and storage solutions for homes and offices.
“Our corporate social responsibility is focused on promoting the planting and transformation of fique — a biodegradable and very resistant fiber native to the Andes — which represents an important source of livelihood for more than 50,000 Colombian families and contributes to the substitution of illegal crops in our country. For this social purpose, we have the support of different national and foreign entities,” the company adds.
