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Ultrapar

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Ultrapar Participações S.A.
Company typeSociedade Anônima
B3: UGPA3
NYSE: UGP
Ibovespa Component
IndustryConglomerate
Founded30 August 1937
FounderErnesto Igel
HeadquartersSão Paulo, Brazil
Key people
  • Pedro Wongtschowski (Chairman)
  • Frederico Fleury Curado (CEO)
ProductsFuel, Chemicals, Logistics, Filling station, Drugstores
RevenueIncrease US$ 23.3 billion (2018)
Decrease US$ 291.5 million (2018)
Number of employees
16,400
SubsidiariesIpiranga
Ultragaz
Oxiteno
Ultracargo
Extrafarma
Websitewww.ultra.com.br

Ultra is a Brazilian company operating in multiple industries and sectors, through subsidiary branches entirely owned and controlled by the parent holding company Ultrapar. The subsidiaries are fuel distribution via Ipiranga and Ultragaz; the production of specialty chemicals, through Oxiteno; the storage of liquid bulk, through Ultracargo; and in pharmacies, through Extrafarma.[1] The company is publicly traded under the name Ultrapar on São Paulo’s stock exchange (B3)[2] and on New York’s (NYSE).[3]

Ultra is Brazil's fourth largest company, and according to the yearly publication Valor 1000 of the Brazilian newspaper Valor Econômico,[4] its net revenue in 2013 was 60.9 billion reais (BRL), at the time approximately $US 24 billion.

Ultra is among the 500 largest companies in the world, according to a ranking prepared by Fortune magazine in 2014.[5][6]

History

Ultra was founded on 30 August 1937 by Ernesto Igel, and originated from the first Brazilian company to bottle and distribute liquefied petroleum gas, named Empresa Brasileira de Gás a Domicílio. The company started its operations with a fleet of three trucks and 166 clients. It soon expanded and gave birth to Ultragaz.[7]

Ultrapar Participações S.A. was formed in December, 1953, and extended its operations through Ultragaz's growth and the creation of new enterprises. Three businesses created during this expansion process make up what the company is today: Ultragaz itself, Oxiteno, which is Brazil's pioneer producer of ethylene oxide and its derivatives and was created in 1970, and Ultracargo, born from the union of the activities of two companies: Transultra, provider of road transport and storage of chemical and petro-chemical products, created in 1966, and Tequimar, a chemicals terminal in Aratu port, Bahia, which incorporated storage to its logistics services in 1978.[8]

Ultra has also participated in the production of fertilizers, through Ultrafértil; in appliance retail, through Ultralar; in industrial engineering, through Ultratec; and in the production and distribution of frozen foods, through Supergel. However, it left these businesses in the 70's in order to focus on activities in which the company saw increasing demand and leadership opportunity. Ultralar and Ultragel were discontinued and Ultratec and Ultrafértil were sold. Ultracargo's transport operations were also sold in 2010, which allowed the company to focus on its strategy to grow in the storage terminals segment.[9]

1999–2010

In 1999, Ultra went public and began to trade its shares on the stock exchanges in São Paulo and New York City.[10] It was the first Brazilian company to go public directly in New York stock market. Such initiative enabled Ultra to have greater capacity to invest, and the company started to use its shares as currency for the acquisition of other businesses.[11] Once capitalized, Ultra began the process of expanding its operations in the following decade.

Four years later, in 2003, Ultra acquired Shell Gas – a propane distributor belonging to Shell of Brazil – making Ultragaz a leader in the national LP gas market.[12] In December of the same year, the company began its operations in the international market through the acquisition by Oxiteno of Canamex, the chemicals division of a Mexican group called Berci.[13]

In 2005, Ultracargo began its operations at the intermodal terminal in the port of Santos, SP.[14]

Two years later, in 2007, Ultra acquired the fuel distribution operation of Grupo Ipiranga in the South and Southeast of Brazil, as well as the brand Ipiranga immediately becoming the second largest liquid fuel distribution company in Brazil, with a 15% market participation.[15]

In 2007, Ultra acquired União Terminais, owned at the time by União das Indústrias Petroquímicas, and turned Ultracargo into the largest operator in the trade of liquid bulk storage in Brazil, holding 30% of the Brazilian capacity.[16]

In the following year, Ultra concluded the purchase of Texaco Brasil’s fuel distribution operations, increasing Ipiranga’s market participation in its sector to 23% of the national fuel market.

In November 2016, Ultrapar purchased Petrobras' liquefied petroleum gas subsidiary for $819 million.[17] In February 2018, the CADE, did not approve the purchase.[18]

References

  1. ^ "Ultra - Relações com Investidores". www.ultra.com.br.
  2. ^ "Ultrapar Participacoes SA (ADR): NYSE:UGP quotes & news - Google Finance". www.google.com.
  3. ^ "Gráfico interativo - Ultrapar ON - UGPA3 - Cotações Bovespa - EXAME.com". exame.abril.com.br.
  4. ^ "Lucro líquido da Ultrapar tem leve crescimento no 4º trimestre".
  5. ^ "Sete Brasileiras em lista da Fortune das 500 maiores empresa". Uol Economia. Retrieved June 2, 2015.
  6. ^ "Duas empresas brasileiras aparecem em ranking de inovação da Forbes". 11 September 2012. Retrieved June 2, 2015.
  7. ^ "Grupo Ultra quer ir além no negócio de combustível". Retrieved June 2, 2015.
  8. ^ "Grupo Ultra". Retrieved June 2, 2015.
  9. ^ "Ultra: Uma das pioneiras no setor de grandes magazines". Retrieved June 2, 2015.
  10. ^ "Preço de largadas pode ser superestimado". Retrieved June 1, 2015.
  11. ^ "Grupo Ultra se ajustará ao Novo Mercado". Retrieved June 2, 2015.
  12. ^ "Ultragaz compra Shell Gás por R$ 170 milhões". Retrieved June 2, 2015.
  13. ^ "Informações sobre empresas classificadas por ramo de atividade". Retrieved June 2, 2015.
  14. ^ "Ultracargo inaugura Terminal Intermodal de Santos". Retrieved June 2, 2015.
  15. ^ "Compra do grupo Ipiranga, de US$4 bilhões, é maior aquisição já realizada no país". 19 March 2007. Retrieved June 2, 2015.
  16. ^ "Ultra compra União terminais". Retrieved June 2, 2015.
  17. ^ "Petrobras approves Liquigás sale to Ultrapar". Reuters. 2016-11-17. Retrieved 2019-03-06.
  18. ^ "Cade reprova compra da Liquigás pela Ultragaz". G1 (in Portuguese). 2018-02-28. Retrieved 2020-11-25.
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