July 12, 2024

Grupo Orbis Full-Year 2020 Profits Improve over 2019

Medellin-based Grupo Orbis – manufacturer of “Pintuco” paints, “Andercol” packaging products, “O-Tek” water-handling systems and distributor of “Mundial” hardware products – announced March 25 that its full-year 2020 profits rose 15% year-on-year, to COP$55.7 billion (US$15 million).

Gross income dipped slightly year-on-year, to COP$491 billion (US$133 million), according to the company.

Asset values dipped 3% year-on-year, to COP$1.6 trillion (US$433 million), while liabilities also declined, to COP$760 billion (US$206 million), with the result that net worth rose to COP$769 billion (US$208 million), according to the filing with Colombia’s Superfinanciera oversight agency.

The “Pintuco” paints division operates in Colombia, Ecuador, Venezuela, Curazao, Aruba, Costa Rica, Panamá, Honduras, El Salvador, Guatemala and Nicaragua. Its retail brands include “Viniltex,” “Koraza,” “Terinsa,” “ICO,” “Protecto,” “Fiesta” and “Pintulux.”

The “Andercol” chemical division operates in Colombia, Brasil, Venezuela, México and Ecuador, focusing upon renewable or recyclable materials including polyesters, polymers, adhesives, construction materials, pharmaceuticals and nutritional elements.

The “O-tek” division — with plants in Colombia, México and Argentina — makes polyester/fiberglass tubing for water and wastewater, mining and industrial applications, and desalination plants.

The “Mundial” division is a distributor of hardware to 453 municipalities in Colombia, with 16 different product lines under the “CRC,” “Brizze,” “Astral” and “Extermin” brand names.

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