Can you give us an overview of developments at Copsa during the last two years?

An important milestone was our name change from Compañía Petrolera Copsa to Copsa Combustibles, Químicos y Especialidades. This was a strategic decision that allows to be more marketable in industries such as the food segment. We also want to deepen our business with existing clients and suppliers. Oil and gas is an important focus for our products and an area we want to grow.

An important part of our business is our own line of retail products. We are constantly working to increase our production of mixtures and our capacity for added-value production. At the moment, we have offerings in thinners, refrigerating liquids, windshield cleaners, auto polish, among others. These products can be marketed as B2B as well as B2C. A new product that has had excellent success and reception is our offering of triethylene glycol. We went from not participating in the market to accounting for 30% of it approximately.

How is the internal organization of the company evolving, along with growth and expanded focus?

There are internal changes taking place in terms of management structure. We are consolidating our information system and making changes that will improve the handling of accounts and at the same time to be more efficient. There are important differences between our fuel and chemical products in terms of the technical expertise for each one, the client portfolio etc. We are working towards a greater integration of the two sectors within the company. The first step is to operate under the same system and afterwards there is a process of training in order to merge the teams. We are looking forward to cross-selling to take advantage of our numerous clients in different industries.

Which industries show promise from a business perspective?

There are two pillars in which we are building our business plan growth, and these are oil and gas on one side, and agrochemicals on the other. These industries show promise externally and are a focus also specifically within our company. Because our selection of products is vast, we have a wide range of customers and partners. This gives us greater flexibility. Our existing customer base ranges from big companies like YPF, Champion and PAE, to others like a local paint shop.

Has Copsa felt the effects of reduced aggregate consumption at a domestic level?

Consumption went down in Argentina since 2019, and the effects in business are noticeable. We feel the impact particularly in our product line of paints, adhesives and coatings – which represents 20% of our petrochemical transactions. An important effect has to do with clients opting for our more economical products. The broader trend at an industry level is for products with better quality and durability but these past years have seen a reversal. Nevertheless, even at reduced margins, sales volumes still grow. Maintaining participation is our priority, so that we are well positioned when the market conditions improve.