Environmental & Social Review Summary
Project Number
25672
Company Name
TECNOQUIMICAS S A
Date ESRS Disclosed
May 6, 2008
Country
Colombia
Region
Latin America and the Caribbean
Last Updated Date
Nov 30, 2016
Environmental Category
B - Limited
Status
Completed
Previous Events
Approved : Jun 26, 2008
Signed : Jun 27, 2008
Invested : Mar 31, 2009
Sector
Pharmaceuticals and Medicine
Industry
Health, Education and Life Sciences
Department
Regional Industry MAS LAC & EUR
Project Description
Tecnoquimicas S.A. (Tecnoquimicas or the company), with its subsidiaries and affiliates, is a local pharmaceutical manufacturer in Colombia. The company and its subsidiaries are involved in the production and distribution of generic pharmaceutical drugs, baby care products, personal care products and animal/veterinary health products. While the company sells majority of its products in Colombia, it also has exports to Ecuador and other countries in Latin America.
Over the next three years, the company plans to undertake investments and capital expenditure, totaling up to $100 million, for:
- expansion and upgrade of its manufacturing facilities;
- possible acquisition of pharmaceutical companies or facilities in the Andean region;
- general corporate expenditure; and
- long-term working capital.
Over the next three years, the company plans to undertake investments and capital expenditure, totaling up to $100 million, for:
- expansion and upgrade of its manufacturing facilities;
- possible acquisition of pharmaceutical companies or facilities in the Andean region;
- general corporate expenditure; and
- long-term working capital.
Overview of IFC's Scope of Review
IFC’s review comprised site-based inspection of the following manufacturing facilities:
- pharmaceutical manufacturing plants of Jamundi and Tecnofar,
- headquarters and alcohol filling plant of San Nicolas in Cali,
- hospital adhesives plant in Cali.
Site inspection visits were also made to the MORE agricultural formulations joint venture facility and to Tecnoquimicas’s main distribution center at Yumbo.
Site visits were supported by a review of environmental and social (E&S) documents provided by Tecnoquimicas, which included written replies to an E&S questionnaire submitted by IFC, reviews of the manufacturing sites’ environmental reports to the local regulators, and review of socially-relevant documents such as Tecnoquimicas’s Human Resources (HR) policy and certain HR procedures.
Meetings were held with Tecnoquimicas’s Vice President and team responsible for the environmental aspects of Tecnoquimicas’s Responsible Care program, with the Vice President and Human Resources team who operate the HR and social responsibility elements of the program, and with managers of the sites which were visited.
- pharmaceutical manufacturing plants of Jamundi and Tecnofar,
- headquarters and alcohol filling plant of San Nicolas in Cali,
- hospital adhesives plant in Cali.
Site inspection visits were also made to the MORE agricultural formulations joint venture facility and to Tecnoquimicas’s main distribution center at Yumbo.
Site visits were supported by a review of environmental and social (E&S) documents provided by Tecnoquimicas, which included written replies to an E&S questionnaire submitted by IFC, reviews of the manufacturing sites’ environmental reports to the local regulators, and review of socially-relevant documents such as Tecnoquimicas’s Human Resources (HR) policy and certain HR procedures.
Meetings were held with Tecnoquimicas’s Vice President and team responsible for the environmental aspects of Tecnoquimicas’s Responsible Care program, with the Vice President and Human Resources team who operate the HR and social responsibility elements of the program, and with managers of the sites which were visited.
