Boasting a favorable investment environment, Colombia has proven to be a positive outcome operation for PAREX. Despite the economic and social challenges faced by the industry globally and locally, PAREX’ growth outlook in Colombia is positive, strengthening our commitment to expanding operations in locations where we can share our knowledge and expertise.
Our operational and financial results in 2016, publicly-reported periodically, were the result of clear goals, effective cost management, and wellplanned and responsible resource management. We exited 2016 with no bank debt and an undrawn credit facility of COP 533,921 million (USD $175 million).
The performance of PAREX’ share price since starting operations in Colombia speaks for itself: increasing from approximately CAD $4 to CAD $17 by the end of 2016. This significant growth is a sign of confidence for our investors, everyone at PAREX, and our stakeholders, who have the opportunity to grow along with PAREX.