Orbia

Orbia (previously Mexichem) is a company providing specialty products and methodologies in the precision agriculture, building and infrastructure, fluorinated solutions, polymer solutions and data communications sectors. It was founded in 1953 and has headquarters in Mexico City.

Orbia Advance Corporation, S.A.B. de C.V.
TypeSociedad Anónima Bursátil de Capital Variable
BMV: ORBIA
IndustryUtilities
Founded1953 (1953)
HeadquartersAv.Paseo de la Reforma,Col. Cuauhtémoc, Mexico City, Mexico
Key people
Juan Pablo del Valle Perochena (chairman)
Sameer Bharadwaj (CEO)
ProductsUtilities
BrandsNetafim, Wavin, Koura, Dura-Line, Vestolit, Alphagary, Amanco, PAVCO, Plastigama, Klea, Zephex
Revenue US$ 6.4 billion (2020)
US$ EBITDA 1.7 billion (2020)
Number of employees
22,000(2019)
Websitewww.orbia.com

History

In 1953 – Cables Mexicanos S.A. founded by a group of Mexican and American investors, to sell high-carbon steel wire ropes in Mexico. In the 60s Cables Mexicanos S.A. changed its name to Aceros Camesa. In 1978 – A control company was created "Grupo Industrial Camesa". It became a publicly-held company, listed on Mexican Stock Exchange. 1997 – Grupo Empresarial Privado Mexicano (GEPM), a company held by the del Valle Family, acquired Grupo Industrial Camesa.[1]

Globalization, 2006–2013
  • 2011 – Mexichem acquired Alphagary Group, a producer of PVC, TPE and TPO compounds in the United States and the United Kingdom.[2]
  • 2012 – Mexichem acquires Wavin, a European supplier of plastic pipes, expanding Mexichem's water management portfolio with acquired operations in 22 European countries.[3]

Recent history, 2014–2018
  • 2014 – Mexichem acquired Vestolit, a producer of PVC resins in Europe, including HIS-PVC (high-impact modified polyvinyl chloride copolymer) and PVC paste. Mexichem acquired Dura-Line, a maker of HDPE conduit, duct and pressure pipe products for the telecom and data communications, energy and infrastructure industries.[4]
  • 2017 – Mexichem acquired 80% stake in Netafim, a precision irrigation approaches provider. This expanded the company's reach into the Middle East, Africa and Asia.[5]
  • 2018 – Mexichem acquired Sylvin Technologies, a Denver-based PVC compounds manufacturer, to expand into custom formulations as part of the Polymer Solutions group.[6]

Change of name
Orbia logo

In 2018, the Mexichem board of directors appointed Daniel Martínez-Valle as CEO.[7] Mexichem was rebranded in 2019 as Orbia,[8] from the Latin word for a sphere and Bia, an ancient Greek personification of the concept of "force."[9] In 2019, Orbia opened a new corporate office in the Torre Reforma building in Mexico City. The company launched Orbia corporate venture capital (CVC) fund, its first investment was into SeeTree, a Tel Aviv-based startup that provides tree health insights.[10] On 19 January 2021, Orbia announced Sameer Bharadwaj as the new CEO.[11]

References
  1. JUDE WEBBER (2 March 2020). "Pivot by Mexico's Orbia reveals ESG dilemma". financial times.
  2. Carlos Manuel Rodriguez (17 December 2010). "Mexichem Agrees to Purchase AlphaGary for $300 Million". bloomberg.
  3. "Mexico's Mexichem buys PVC pipe producer Wavin for €531m". icis. 2 August 2012.
  4. "Dura-Line to be Acquired by Mexichem". businesswire. 18 August 2014.
  5. "Mexichem acquires 80% of Israeli irrigation giant Netafim Ltd. for US$ 1.9 billion". mexico-now. 15 August 2017.
  6. "Dura-Mexichem Announces the Acquisition of Sylvin Technologies Inc". businesswire. 22 January 2018.
  7. "Mexichem to Appoint Daniel Martínez-Valle Chief Executive Officer". businesswire. 31 January 2018.
  8. "Mexichem renamed Orbia". Chemical Week. 16 September 2019.
  9. Emily Chasan (5 September 2019). "PVC Pipe Giant Mexichem Changes Name Amid Plastics Backlash". bloomberg.
  10. Lauren Manning (25 November 2020). "Orbia launches $130m venture fund, injects $3m into plant health startup SeeTree". agfundernews.
  11. "CEO Daniel Martínez-Valle steps down / Sameer Bharadwaj announced successor". plasteurope. 26 January 2021.
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