- As material information, Invexans announced the incorporation of a new company in the British capital, particularly devoted to the analysis, performance and follow-up of international investments.
- Invexans also announced its financial statements as of December 31, 2017, with a net profit of US$36 million, significantly exceeding the figure of the previous year.
Santiago, March 19, 2018. Invexans’ Board of Directors approved today the creation of a subsidiary based in London. Invexans is a 98.7% owned subsidiary of Quiñenco. The new company will have a professional team in the British capital, an international business center, with the mission to identify, assess and materialize new growth opportunities, as well as developing and managing the investment portfolio.
The decision, announced today by Invexans to the Financial Market Commission as material information, represents a new step in the internationalization strategy developed by Quiñenco, with presence through its companies in over 120 countries in five continents. Invexans, in turn, is the reference shareholder with a 28.5% interest in Nexans, a French multinational cable and technological solutions company.
Invexans’ Chairman of the Board of Directors and Chief Executive Officer of Quiñenco, Francisco Pérez Mackenna, explained that “London is a strategic point that will allow us to be closer to where we believe the opportunities for new businesses are, in line with the internationalization route we have strongly developed during the last years”.
In addition to the creation of its subsidiary in the United Kingdom, Invexans’ Board of Directors approved the Company’s financial statements, reporting net income of US$36 million in 2017. This figure represents a 170% increase as compared to the previous period, explained by Nexans’ favorable performance, particularly driven by the high voltage submarine cables segment.
Quiñenco is one of the largest and most diversified business conglomerates in Chile, with consolidated assets of approximately US$58.1 billion. It participates in leading companies of the financial, beverage and food, manufacturing, energy, transport and port services sectors that in all employ approximately 65 thousand individuals in Chile and abroad. For more information visit www.quinenco.cl