The head of the company – which invests in French Nexans and other companies – assured that it was a fruitful period as they left behind, among other things, two years of losses and returned to profits.
A positive balance has been struck for 2020 by Invexans, a company linked to the Luksic Group that manages its stake in French Nexans and that is adding other businesses, such as fuel, through Enex.
In his message in the annual report, the president of the company, Francisco Perez McKenna, He noted that the past year was “very special and challenging for all” in the midst of “the greatest pandemic of the last century.” However, he noted that they were returning to profits after two years of losses, along with being a year marked by milestones such as the start-up of the first high-voltage submarine cable plant in the United States.
“We can conclude that despite the complex moment in which we find ourselves global, the year 2020 has been a fruitful period for Invexans and its companies, as we have been able to steadily march our strategy of international development and expansion,” said the CEO of a company controlled by Quiñenco.
As Perez McKenna explained, despite the complex scenario, they were able to implement the main challenge they posed for 2020: Incorporation of Enex into the investment portfolio following the merger with Inversiones Río Argenta. This made it possible to contribute to Enex’s business in Chile, the United States and Paraguay to a UK-based company that relies on Invexans Limited, the London subsidiary.
Through this new structure, we have taken an important step towards internationalizing Enex, a process already underway since 2018, seeking to maintain its growth in the geographic regions in which it currently operates, as well as to facilitate the identification of opportunities in new markets, giving it a greater view of its assets, either. For the ultimate integration of partners, or for their access to global capital markets and deeper financing sources. “
Likewise, he said, Invexans has continued to prospect and manage businesses outside of Chile, seeking to invest in accordance with the challenges of the global economy and the internationalization strategy of the major shareholder, Quiñenco.
The CEO also noted that the French multinational Nexans – where it is investing – recently presented its strategic plan for the next three years, which aims to move from being a wholesaler in cable manufacturing to a global player focused on electricity, under the slogan “Simplify to Amplify”. It will focus on two business sectors: construction and regions, including utilities and electrical mobility. And high voltage projects that include offshore wind energy.
“In this way, Nexans aims to lead the way towards safer, sustainable, renewable, carbon-free and accessible electrification for all,” he stressed.
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