The Plaza Group has signed an exclusive buy/sell agreement with Petróleos de Venezuela, S.A. for PDVSA’s nonene product, a chemical intermediate used in the production of plasticizers, detergents and coatings. The $20 million multi-year contract will bring to fruition The Plaza Group’s efforts to establish a stronger presence in Latin America.
Randy Velarde, President of The Plaza Group, commented on the contract saying, “This new agreement with PDVSA represents the extension of our unique outsourced business model for the petrochemical industry beyond national boundaries. We have seen our U.S. suppliers experience tremendous gains in productivity after outsourcing their marketing function, and there’s no reason the same principles can’t apply in other regions of the world like Latin America or Asia.”
Since its creation by the Venezuelan government in 1976, Petróleos de Venezuela, S.A. has coordinated the nation’s involvement in all aspects of the oil and gas industry. PDVSA handles the development of the nation’s oil, petrochemical and carboniferous industries and oversees their divisions’ activities both domestically and abroad. PDVSA is uniquely positioned between worldwide refineries and a network of manufacturers and customers located throughout Venezuela, the Caribbean, the United States and Europe. For more information on PDVSA, visit the company’s web site at www.pdv.com.