Our business strategy is focused on delivering an attractive level of profitability in the long term to our investors, through a sustainable management model.
We promote a
RELIABLE FUTURE
Our management contemplates business development with care for the environment and social and economic value generation for all our stakeholders: employees, customers, shareholders, suppliers, community, government and partners, among others.
We are
EMPRESAS COPEC
Our business strategy is focused on delivering an attractive level of profitability in the long term to our investors, through a sustainable management model.
We are a world-class company, seeking to deliver an attractive level of profitability in the long term to our investors, and contribute to the development of Chile and the different countries where we conduct our productive and commercial activities. To that end, we invest primarily in energy and natural resources and, in general, in business areas where we can create value in a sustainable way. When conducting our activities, we strive to be a good citizen and address and respect the interests of shareholders, employees, partners, suppliers, customers, communities and all parties with whom we are, in one way or another, involved. At Empresas Copec we conduct our productive and commercial activities with excellence and act in all decisions according to the highest ethical and transparency standards.
To build a reliable and sustainable future for everyone.
OUR
STRATEGY
LEADERSHIP
LEADERSHIP
We are a diversified financial holding company involved, through its subsidiaries and affiliates, in different sectors of activity. Historically, the parent company was engaged in the distribution of liquid fuels, which was transferred in October 2003 to a new subsidiary that encompasses the assets related to this business. Today, Empresas Copec’s investments are concentrated on two major areas: energy and natural resources.
A group of these companies sells fuels required by productive sectors, households and transport, which are strongly related to the growth and development of the country.
On the other hand, our strong presence in the forestry and fishing industries, and the interest in venturing into mining, are a consequence of the strategic vision of our Company, which seeks to participate in those sectors of activity where Chile has clear competitive advantages.
The position achieved by Empresas Copec, one of the major economic groups in Chile, is the result of an efficient cost structure, continued commercial effort and a conservative financial profile.
EFFICIENCY
EFFICIENCY
Empresas Copec’s production operations are primarily concentrated in Chile, a country that enjoys a climate that allows for rapid growth and short harvesting cycle of conifer species; which has more than 4,000 km of generous coasts, with waters that have ideal temperatures for the extraction of pelagic species; and whose imposing mountain range is rich in high grade ores. All these aspects are key for the development of industries such as Empresas Copec, focused on the development of natural resources.
This generous nature combined with the development of production facilities close to the main shipping points helps to compensate for the relative remoteness of Chile from its top export destinations.
An increasingly global world, and where the Company must compete with top-level foreign companies, forces companies to optimize their operations and be close to technological frontiers, leading their evolution.
Empresas Copec has carried out major investment programs, which have helped increase the scale of operations significantly, thereby achieving significant cost reductions, increasing efficiency and having strong competitive positions to overcome the ups and downs of industries that are cyclic by its nature.
Additionally, Empresas Copec has constantly expanded its product and business lines, expanding in a timely manner into new lines of business that have synergy with the existing ones and in which its experience can be used.
Empresas Copec’s investment is always inspired by a long-term vision, seeking to develop and manage its activities sustainably and committed to its environment, in the broadest sense.
COMMERCIAL EFFORT
COMMERCIAL EFFORT
Empresas Copec operates today without borders, exporting its products to more than 80 countries on five continents. If participating in international markets is very difficult today, leading them is an even greater challenge.
Internally, the successful competition with the top companies in the fuel business has made Copec a leading company in that market, and a special case internationally.
The products exported by the Company have achieved a strong position in the most demanding foreign markets, as a result of their orientation towards quality and their adherence to compliance with international standards.
The growing presence of Copec companies in foreign markets also responds to a diversification goal. To reduce exposure to swings in these markets, we have constantly sought to open new markets and also encourage the development of higher value-added products. Thus, diversification has not been only geographical. It has also extended to the range of products sold and the origins of their inputs, seeking to limit their dependence on any of them specifically.
A cornerstone in Empresas Copec successful sales has been our approach to service quality, the result of the continued effort of highly specialized commercial teams. Whether in our representative offices around the world, or at the outlets in the most remote locations of the country, our people share the same thrust, drive and creativity to bring Empresas Copec’s products to homes, commerce, transport and industry.
A continued effort to innovate allows the Company to be at the forefront in quality of service, in order to meet, in the best possible way, the comprehensive needs of each of our customers, implicitly strengthening the commercial brands of our companies.
FUNDING CAPACITY
FUNDING CAPACITY
A distinctive feature of Empresas Copec is our conservative policy regarding debt levels. Besides allowing us to face times of greater difficulty successfully, this strategy aims to ensure that resources are available at all times to be invested in a timely manner. Together with the significant cash generation capacity of its own businesses, low debt levels allow Empresas Copec to take better advantage of market opportunities, facilitating the investment process and obtaining new resources when necessary.
This way, we have managed to generate high and growing cash flows, allowing us to finance our investment plan and distribute significant dividends.
THE SAME SPIRIT
THE SAME SPIRIT
Today Empresas Copec is a company that displays positive numbers in its financial statements, leads the industries where it participates, enjoys a solid reputation and brand power, and is in a unique position to continue contributing to its shareholders, its employees and the country.
This position has been forged thanks to shared values and principles for all subsidiaries, which have inspired its management throughout these eight decades of business.
A distinctive component of this style of doing business is its long-term vision. Empresas Copec invests in areas that can offer an attractive return on a broad horizon. For this, it is essential to make decisions reflectively, constantly work for excellence in its activities and ensure business sustainability.
The last point has always been, according to Empresas Copec, key to achieving our objectives. Sustainability requires incorporating the interests of all parties involved in decision making. Shareholders, authorities, employers and communities must live within a framework of respect and aligned interests. For that purpose, it is also key that decisions be informed to all parties in an exact, timely and transparent manner.
This is the spirit that distinguishes each of Empresas Copec subsidiaries, and that is empowered through our management systems and our people. The corporate governance structures and personnel policies are oriented towards the integration of ethical and professional values, key in each of the companies’ decisions. These also ensure that the interests of the administration are properly aligned with those of all our shareholders and employees.
VALUE CHAIN
VALUE CHAIN
At the end of 2018, Empresas Copec has market capitalization of US$ 15,560 million, accounting or about 9% of Chile’s main stock index (*). This figure is backed by a sustained trajectory of value creation, which has allowed the Company’s share to achieve an annual real average return close to 11% since 1987.
These numbers, in turn, are nothing more than ae reflection of a long-term vision and the work of Emoresas Copec team that have allowed leading markets, growing solidly and maintaining a firm commitment to the Company and the country.
(*) Number corresponds to Empresas Copec weighting in the SPCLX IPSA index, published by S&P in September 2018.
HISTORY
1934
Compañía de Petróleos de Chile
Compañía de Petróleos de Chile (Copec) is founded with the purpose of marketing and distributing fuel in the country.
HISTORY
1956
Abastible
Abastible is established with the aim of marketing and distributing liquefied gas in Chile.
HISTORY
1957
Sonacol
Sonacol, a company responsible for transporting fuels through a network of pipelines, is established. Copec, for its part, took over the representation and distribution of Mobil products.
HISTORY
1976
Celulosa Arauco and Forestal Arauco
Celulosa Arauco and Forestal Arauco are acquired.
HISTORY
1979
Celulosa Arauco and Constitución
Celulosa Arauco y Constitución, a forest company that is born out of the merger of Celulosa Constitución and Celulosa Arauco, is established.
HISTORY
1986
COPEC
The Angelini Group became a shareholder in Copec after acquiring a 41% stake.
HISTORY
1989
Fundación Educacional Arauco
Fundación Educacional Arauco is established to strengthen teaching in municipal schools in the Maule, Biobío and Los Ríos regions.
HISTORY
1990
Bioforest
Bioforest, a center of excellence and research aimed at developing and applying state-of-the-art technology in the areas of biotechnology, cellulose, forest heritage and industrial plants, is established.
HISTORY
1991
Mining Company Can-Can
Mining Company Can-Can (today Alxar Minería) is founded with the purpose of exploring and developing gold, silver and copper deposits.
HISTORY
1992
Igemar
Igemar is established after the merger of Pesquera Guanaye and Pesquera Iquique.
HISTORY
1994
Metrogas
Metrogas is established to market natural gas in the country.
HISTORY
1996
Alto Paraná
ARAUCO acquires Alto Paraná, one of the major pulp mills in Argentina.
HISTORY
1999
Corpesca
Corpesca is established after integration of the operational assets that the fishing companies Igemar, Eperva and Coloso had in northern Chile.
HISTORY
2000
COPEC
Angelini Group takes control of Copec, after acquiring an additional 30.05% stake.
HISTORY
2002
Fundación Copec-Universidad Católica
Fundación Copec-Universidad Católica is founded with the aim of promoting applied scientific research in the field of natural resources.
HISTORY
2003
Empresas Copec
Compañía de Petróleos de Chile Copec becomes the affiliate in charge of the business of liquid fuels and lubricants, and the parent company turns into a financial holding, changing its business name to Empresas Copec.
HISTORY
2005
ARAUCO arrives in Brazil
ARAUCO acquires pine plantations, an MDF board mill, a particle board mill and a resin mill in Brazil.
HISTORY
2006
Elemental
Elemental is established with the aim of developing social housing projects to reduce poverty and improve the quality of life of people.
HISTORY
2007
Mina Invierno
Mina Invierno is founded with the aim of extracting coal in the Magallanes Region. In addition, ARAUCO and Stora Enso acquire forest land, a sawmill and 20% of a paper mill in Brazil.
HISTORY
2009
Golden Omega
Golden Omega is established to produce Omega-3 concentrates in the north of the country. On the other hand, ARAUCO and Stora Enso acquire the assets of Ence business group in Uruguay, creating Montes del Plata.
HISTORY
2010
Terpel and Orizon
Copec bought control of Terpel, Colombia´s largest fuel distributor. In addition, Orizon was established after the merger of fishing companies SPK and San José.
HISTORY
2011
Inversiones del Nordeste and Moncure
Abastible acquires 51% of the Colombian company Inversiones del Nordeste. ARAUCO purchases the Moncure panel mill, in the United States.
HISTORY
2012
Flakeboard Company Limited
ARAUCO acquires Flakeboard Company Limited, adding seven panel mills in the United States and Canada.
HISTORY
2014
Anacleto Angelini UC Innovation Center
Empresas Copec and Universidad Católica de Chile open the Anacleto Angelini UC Innovation Center to promote a pro-innovation and pro-entrepreneurship culture and environment in the country.
HISTORY
2016
Mapco, Tafisa, Solgas and Duragas
Copec purchases 100% of Mapco Express, owner of a service station network in the United States. ARAUCO acquires 50% of the company Tafisa, adding panel mills in Spain, Portugal, Germany and South Africa. In addition, Abastible acquires the Peruvian company Solgas and the Ecuadorean company Duragas. For its part, Empresas Copec enters the Dow Jones Sustainability Index Chile and the FTSE4Good Emerging Index.
HISTORY
2017
Masisa do Brasil
ARAUCO acquires Masisa do Brasil, adding an MDF board line and an MDP board line, and agrees the purchase of Masisa assets in Mexico, allowing it to add particleboards, MDF boards, melamine laminates, a chemical plant, and a veneer line, subject to approval of the authority.
HISTORY
2018
MAPA Project and Mina Justa
ARAUCO starts construction of the MAPA Project (Modernization and Extension of the Arauco Mill) with an investment of US$ 2.35 billion. For its part, Alxar Minería acquires, at US$ 168.5 million, 40% of the Peruvian company Cumbres Andinas, which in turn owns 100% of Marcobre, to carry out the Mina Justa project in Peru.
HISTORY
2019
Copec Voltex and Grayling Project
Copec launches Voltex, the most extensive network of service stations for electric vehicles in Latin America. ARAUCO inaugurates the Grayling project, the largest Chilean investment in the United States; US$ 450 million. In addition, the subsidiary announces that it will be certified, in 2020, as the world's first carbon-neutral forestry company.
HISTORY
2020
ARAUCO and Copec
In a complex scenario marked by the pandemic and after an almost US$200 million investment, ARAUCO began dissolving pulp production at its Valdivia Pulp Mill. In addition, the subsidiary certified its carbon neutrality, becoming the world’s first forestry company to achieve this goal. Copec inaugurated South America's largest electro-terminal.
Energy and Natural Resources
EMPRESAS COPEC AT A GLANCE