The Philadelphia-based logistics company BDP International has taken an equity position in Interflex, based in Cartagena, Colombia.
The resulting joint venture will operate as BDP International Colombia under its current management team led by Enrico Benedetti.
“Our decision to bolster our presence in Colombia is based on a number of factors, not the least of which is the excellent relationship we have with our partner Interflex, which like BDP is family-owned,” said BDP chief venture officer H. Timothy Bolte. “Averaging 4.5 percent over the past decade, Colombia’s economy grew 4 percent in 2012 and is projected to grow by up to 5 percent this year.
“Driving this growth are global demand for its oil, gas and coal and robust domestic consumer demand from a flourishing middle class, which has doubled in the past decade and is projected to double again over the next 10 years,” Bolte said. “Add to these dynamics the landmark Colombia-U.S. 2012 Free Trade Agreement, the fact that exports have tripled over the past decade and Cartagena’s emergence as a world-class trade hub in the Western Hemisphere, and it became imperative for us to be there.”
In addition to Colombia, BDP has offices and affiliates in 29 other Latin American and Caribbean countries. - Chris Dupin