It is a close corporation where the main shareholder is Administración Nacional de Combustibles, Alcoholes y Portland (ANCAP, National Administration of Fuels, Alcohols and Portland Cement) which holds 90.79% of the total issued shares and the remaining 9.21% belongs to PDVSA Uruguay S.A.
Currently, it is the main producer of biofuels, sugar and protein meal in Uruguay. It has five industrial enterprises: Complejo Agroindustrial Ing. Mones Quintela in Bella Unión (production of bioethanol, sugar, electric power and animal feed), Microdistillery in Artigas (production of hydrated alcohol), Planta Bioetanol Paysandú Fase II (production of bioethanol and animal feed), Planta de Biodiesel Paso de la Arena (production of biodiesel, glycerin and protein meal), as well as Planta de Biodiesel Capurro (production of biodiesel and glycerin) and offices and storages in Polo Industrial y Tecnológico Capurro.
It has accumulated experience in the management of agro-industrial chains in which it works and it is the only current supplier of biodiesel and bioethanol for ANCAP, thus guaranteeing that the mixture required by Law 18,195 can be achieved for gasoil and petrol, respectively.
To reduce the costs of biofuels that are acquired by ANCAP maintaining the level of activity, achieving for 2016 an budget lower than that of 2015. In this regard, we will continue with the implementation of actions for costs reduction in all the areas of the company
We will implement, in agreement with the shareholders, a plan that allows the financial restructuring of the short-term liabilities, and the improvement of the financial ratios damaged by the debt incurred by the construction of the Paysandú Bioethanol Plant.
We will have to resolve the issue of the cost overrun from non-deductible VAT for bioethanol, which generates a tax burden higher than that of fossil fuels for the ANCAP group.
We will aim at diversifying the production and sale of different products including biofuels for captive fleets and exports, and sub-products for export. We must aim at recovering the lost sales in the sugar market.
We will aim at enabling and/or carrying out a series of initiatives and projects, like self-generating wind power in Paysandú and the CO2 Plant in Paysandú, in agreement with third parties.
Economic and financial goals will be established, so that they enable the sustainability of operations and they are aligned to the strategy defined by the shareholders.