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Enrique Figueroa

MEXICO - Industry

Enrique Figueroa

Managing Director, Latin American North, Caldic Latam

Bio

Enrique Figueroa has more than 26 years of experience working for the GTM Group. He joined the company in Guatemala as a sales executive, assuming positions such as sales manager, general manager of Guatemala, and the management of other regions. In 2020, he became responsible for the entire Latin America North region as Managing Director Latin America North. Figueroa has a background in industrial chemical engineering with an MBA.

"For Caldic, Mexico is strategic because is the second-largest economy in Latin America. In terms of distribution, it is an important market like Brazil."
Why is Mexico a strategic market for Caldic?

For Caldic, Mexico is strategic because is the second-largest economy in Latin America. In terms of distribution, it is an important market like Brazil. The percentage of people living in Mexico also makes up 46% of our portfolio in the area. Our business is related to final users’ focus on end markets that we are attending because they consume a high volume of several products, which is how we have quantified the market. There is also significant potential to produce products in Mexico and export them to the US. In Mexico, Caldic is focused more on the specialty chemicals market and developing customer solutions. We acquired Highchem, a specialty chemicals company, mainly engaged in the paint and ink market in Mexico, because we see the great market potential in the life sciences market, which mainly comprises food, pharmaceuticals, personal care, pet care, and agro.

What strategy is Caldic using to grow in the market?

Caldic is set to grow organically and through acquisitions, investing in our technical human resources and laboratory infrastructures. We are already seeing companies that are leaders in the market and capable of achieving scale in Mexico. This is a great opportunity for us. We will realize this predominantly in the Life Science market, the sheer potential of which became patently clear to us during the pandemic. Formerly we had been more engaged in the industrial component in the other consolidated clusters such as Central America and Peru. We are developing our strategy by remaining close to our customers to progress and best evaluate those processes where we can bring added value from the perspective of creating solutions where both the customer and Caldic can create a win-win business. Now, with the integration between GTM and Caldic, we are a stronger group with a global presence which brings us several opportunities to grow in potential markets and offer more innovative solutions to our customers and principals. We will keep our Latin way of working with agility and transparency, potentializing new business opportunities.

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