Trafigura enters into petrochemical trading joint venture
The alliance with Altis Group International will include two new trading entities focusing on bulk liquid chemicals
Trafigura Group Pte Ltd. has entered into a joint venture agreement to create a commodity petrochemical trading business, with a focus on bulk liquid chemicals.
The joint venture has been created between Trafigura and senior executives from the petrochemical trading industry, including the current management team of Altis Group International LLC, and will comprehend two trading entities: the already existing Altis Group International LLC for the US, based in Houston and Altis International (Singapore) Pte which will have a branch office in Geneva.
“We believe that the time is right to start exploring the potential of this market for petrochemicals that is expected to grow significantly over the next few years, with Altis well placed to capture a share of this market by bringing an experienced team combined with Trafigura’s global footprint, resources and infrastructure to connect buyers with sellers” said Tom Jay, a Trafigura senior manager who until recently headed Deals Desk for refined metals, bulk and concentrates and who – toghether with Chris Clarkson, Head of Gasoline Trading - will join the boards of the new venture.
The new venture will be led by a team of industry veterans with more than 100 years of combined relevant experience. “The new global venture with Trafigura will be transformative not only for Altis and its employees but for all of our commercial partners. Teaming up with Trafigura will accelerate our growth and ability to expand our trading reach globally” stated Jeff McNear, President of the Altis Group International management team.
Formed in October of 2014 and based in Houston, Texas, Altis Group International is a global trading and logistics company that focuses on the trade of bulk liquid chemicals.
Active in the petrochemical markets on a worldwide basis, with expertise in handling shipping and logistics for a wide range of chemicals, the employees and commercial activities of Altis will transition into the US based and international companies and serve as the trading platform for the new venture.