Venezuela. A possible absence in raw materials could affect from the month of September to the industry of paints and coatings for the manufacture of the products.
As reported to local media by the president of the Venezuelan Association of the Chemical and Petrometic Industry (Asoquim), Pablo Olalquiaga, manufacturing companies are presenting problems to acquire raw materials due to the lack of foreign exchange liquidity that has caused a record of very low levels of inventories.
According to the president of Asoquim, the government owes the distribution and chemical production companies about US$700 million. On the part of the companies that belong to this association (about 155) the figure amounts to more than US $ 400 million.
Olalquiaga stressed that although meetings have been held with the current government to solve the situation, no progress has been seen. They then expect a positive response from the State to solve the problem and not put the national chemical industry at risk.
