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Grupo Caravajal profits have risen 26% from 2010 with the figure for 2011 now standing at $118 million, Colombian media reported Tuesday.
Sales revenue also increased by 5% to $1.8 billion. The president of the group, which has technology, paper, outsourcing, packaging and education businesses, put the increased income down to acquisitions.
Ricardo Obregon said, “The acquisition of Group Convermex from Mexico and of Empaques Kudas in Chile turned Carvajal into the second biggest company in Latin America in its sector, with a presence in countries from the United States to Chile.
