José Pablo Domínguez, general manager of ME Elecmetal Funvesa, explained that although the situation of the mining sector in South America is complex, “it is an industry that looks at the long term.” Along these lines, the company is focused on proposals that help address productivity challenges.
FUNVESA Advising the shareholders of Fundicion Ventanilla on the sale of 100% of the company's shares
Date: 04 January 2024 / Source: me-elecmetal.com
The Chilean company ME Elecmetal has been operating commercially in Peru for 10 years. The mining supplier is present in 40 countries, being the first in mill linings and second in grinding balls. In the country they serve the main companies in the sector, such as Antamina, Cerro Verde, Antapaccay, among others. To strengthen their local operation, they have just acquired 80% of the Peruvian Funvesa, dedicated to the manufacture of cast parts in steel and special irons.
In addition, he pointed out, the commitment to the Peruvian Funvesa is aligned with the expectations in the large portfolio of mining projects that Peru has, for more than US $ 50,000 million. ME Elecmetal acquired 80% of the company for more than US$ 10 million.
The Funvesa plant is located in Ventanilla and has a physical space of 3 hectares (they have just purchased the neighboring land to reach this size), with a team of 250 people. “Together with our partner we want to expand,” he explained.
José Pablo Domínguez told Management that they already have a “strong” investment project agreed upon with their current partners to double the capacity of the factory in the next three years.
The plans with Funvesa
As part of the transformation of ME Elecmetal, in recent years they have opted to provide comprehensive solutions for monitoring, sensorization, digital services, mill bolts, among others. “This has driven our acquisition. Partnering with the Jiras family (owners of Funvesa) helps us add new solutions because now we can manufacture locally,” Domínguez explained.
For example, now the linings for mills can be made at the Peru plant, as well as installing the monitoring and digital service areas.
This, he said, will allow a better connection of the company with the mining industry and will generate new growth opportunities for the company, such as making complementary investments in the coming years.
“We are evaluating projects to be executed in the Lima or Arequipa area in the medium term,” said José Pablo Domínguez.