New development step
The renaming took place as a part of the rebranding procedure implemented by the Metafrax group. A full launch of the new brand is planned for this fall, however Metafrax Trading International (MFTI) has become a leader in this project.
In accordance with the Charter, the company does not have a general or managing director. All decisions, as it was before, are made collectively by the Board of Directors. After the name change and relocation, only membership of the Board has changed. It comprises of Leonardo Bernasconi and Marina Sivkova. With that, the authorities of the company's commercial managers have not changed. “The focus of their responsibility will be more directed to sales efficiency issues. This is especially relevant since more than 40% of the enterprise’s revenue is the export sale of products. At the moment, 9 people maintain MFTI operations,” commented Marina Sivkova.
Marina Sivkova has been working for Metafrax for about 10 years. In particular, 8 years as a director of finance and economics of PJSC Metafrax; Marina has an experience in the corporate system of the Metafrax Group of Companies. She will manage the company's current operations. Leonardo Bernasconi is one of the Laris Fiduciaria SA (Switzerland) managers with a field expertise in national and international taxation, accounting and management.
Staff changes that have taken place make it possible for the trading company to increase the efficiency of its operations, achieve more agile its development goals following the principles of integration between the enterprises of the Metafrax Group of Companies.
Based on the result of sales in 2018, MFTI ranked 71st in the ranking of global chemical distributors. The rating represents the industry leaders judged by the cost of sales. ICIS Chemical Business magazine analyzes the key trends of distributors in both the global market and regional segments: in North America, Europe, Asia, Latin America and the Middle East (including Africa). Compared to 2017, the company improved its position in the global ranking by 6 points. “Improvement was reached due to the favorable price situation on the market and an active attitude towards product promotion,” comments Marina Sivkova, a member of the company Board of Directors. “Following the results of 2019, we expect to at least keep sales at the same level as last year, and we will use every effort to improve this result.” According to Marina Sivkova, more than 80% of the company's total revenue comes from methanol.
In 2018, the company's revenue amounted to € 185 million, which is 12% higher than 2017 (€ 165 million). Since the company establishment, sales have increased almost twice: in 2015 - 270 thousand tons of products per year, in 2018 - 531 thousand tons.
In 2019, Metafrax Trading International began selling dipentaerythritol, a new product manufactured by PJSC Metafrax. MFTI, together with the production facility, premarketed the products on the European market by visiting the European Coatings Show in Nuremberg in March 2019. Dipentaerythritol production was launched in the second quarter of this year, product homologation is in progress among potential customers. “We expect by the end of this year to build a customer base - both among our strategic partners in Europe, and in North and Latin America, as well as in the Asian region,” said Marina Sivkova.
In view of the Ammonia-Urea-Melamine complex construction, as well as the implementation of a project for the construction of a paraformaldehyde production plant at the production facility of PSJC Metafrax in Gubakha, MFTI is preparing to expand its sales portfolio.
Active premarketing of melamine, urea and paraformaldehyde is already underway. Extensive connections with suppliers and customers allow for thorough preparation for the sales of new Metafrax products.
The company already supplies some of these products to customers from the third-party manufacturers, and a part is planned for supply. Thus the acquaintance with the market and preparation for entering the market with the own products in the future have started. “At the beginning of 2020, it is planned to accept a new employee to the position of a trading operator for the new products,” commented Marina Sivkova.According to Marina Sivkova, export of a new bulk cargo amounts to tens of thousands tons for paraformaldehyde and melamine and hundreds of thousands for urea: “The volumes are quite serious. The territory of supply will depend on the conditions, we are not focused only on the nearby markets of Europe, we look at sales globally, exploring opportunities in general. We aim to enter new markets as soon as possible with good sales efficiency.”In the 2nd quarter of this year a subsidiary of PJSC Metafrax - Metadynea Trading SA has changed its name to Metafrax Trading International SA and moved from Geneva to Lugano. The company aims to increase the efficiency of its operating activities and to introduce new Metafrax products to the international market.