Viscofan S.A. - Introduction

Introduction

C/Iturrama 23 entreplanta
Pamplona
E-31007
Spain
Telephone: +34 948 19 84 44
Fax: 34 948 19 84 31
Web site: http://www.viscofan.com

Public Company
Incorporated: 1975 as Viscofan S.A., Industria Navarra de Envolturas Celulosicas
Employees: 3,573
Sales: EUR 371.3 million ($506.6 million) (2003)
Stock Exchanges: Madrid
Ticker Symbol: VIS
NAIC: 311612 Meat Processed From Carcasses; 221122 Electric Power Distribution; 551112 Offices of Other Holding Companies

Viscofan S.A. is the world's largest manufacturer of artificial casings, the sleeves that hold sausages. Viscofan is also one of the most diversified casings producers, producing four of the six different types of meat casings: edible and inedible collagen; plastic; and cellulose. (The remaining categories are natural and fibrous casings.) By extending its production into multiple casing categories, and by positioning itself as a low-cost producer, Viscofan has captured a global market share of some 40 percent. This places it ahead of its two main competitors, Viskase, in the United States, and Devro, in the United Kingdom. Viscofan's casings are distributed to more than 80 countries worldwide. Based in the Navarro region of Spain, Viscofan supports its international sales through a network of manufacturing plants, including two each in Spain and Brazil, and plants in Germany, the Czech Republic, the United States, Peru, and Mexico. The company also operates sales and distribution subsidiaries in the United Kingdom, Thailand, Canada, Costa Rica, Russia, and Poland. The company's casings production plants are operated by Viscofan itself, and by its subsidiary, Naturin, based in Germany, which specializes in edible and non-edible collagen-based casings. In addition to its casings business, Viscofan also operates IAN S.A. (Industrias Alimentarias de Navarra), which produces and cans asparagus, olives, and tomatoes for pastes and sauces under the Carretilla brand name. Viscofan is listed on the Bolsa de Madrid and is run by founder and Chairman Jaime Echevarría Abona and CEO Juan Ignacio Villegas Díaz. Paper producer Iberpapel holds a 35 percent stake in Viscofan.