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GSED companies close 2015 with revenues of 970 million dollars

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07/15/2016 | Bogota

Erich Saumeth
The Vice Minister of Defense for the Social and Business Group of the Colombian Ministry of Defense (GSED), General (RA) José Javier Pérez, has revealed that the companies that make up this group, Indumil, Codaltec, CIAC and Cotecmar, generated during the past 2015 revenues of nearly 2.9 trillion pesos, that is, approximately 970 million dollars.

During the same period, these same companies managed to sell products through exports for around 9.8 million dollars, particularly through the sale of Indumil Galil AR 5.56×45 millimeter and Galil ACE 5.56×45 millimeter rifles.
For the official, the success of this management has resided in the rethinking of the composition of the boards of directors of these companies, in accordance with the recommendations made at the time by the Organization for Economic Cooperation and Development (OECD).

According to the vice minister, "one of the difficulties we had was a very high turnover of board members that lasted just months, a year and with that they are just beginning to get to know the entities," explained the director. That weakens us. The formation of the boards is by the boards and not by the people, since they constantly change, which is why it is important to give this direction that we are achieving.”
The GSED vice ministry revealed that these income were distributed in 45% for the sale of goods, in 22% for the sale of services and in 17% for financial goods.

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Source: http://www.infodefensa.com/latam/2016/07/15/noticia-colombia-grupo-social-empresarial-ministerio-defensa-colombiano-genera-utilidades-cerca.html

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