Argentina: WICO aims to establish a national network of service stations
The company seeks to acquire sites in the near future in order to expand its business across the country.
WICO is an Argentinean company that recently got the approval to refine crude oil and is on its way to becoming a top player in the industry. The brand was a pioneer in fuel retailing in the country years ago and was revitalized to focus on different aspects of the industry such as distributing, commercializing and refining fuel.
The next step in its expansion is developing a national network of service stations. The firm is aiming to acquire several unnamed sites in the near future to launch its retailing strategy. Currently, its executives are negotiating with several managers in order to reach an agreement that benefits both parts.
In a recent interview with Surtidores, Fernando Riccomi, WICO’s owner, has stated that the firm is in talks with site owners to develop its network across the Argentinean territory. “We are sounding out people who are interested in renting or selling the station in order to move forward, but we cannot have a specific date until it is defined. And as soon as the deal is finalized, a whole process of decoration, assembly, structure and more will begin to put them in condition," the entrepreneur commented to the site.
“Our search is to find some form of association with people who have been serving a market and a certain clientele for years," added Riccomi. The director assured that the main priority of the plan is to achieve vertical integration. “If we can’t do it, it will be very difficult to sustain over time,” he said.
Currently, WICO manufactures several types of fuel while its network of clients is composed mostly of distributors, unnamed service stations, transporters and the agricultural sector. Its main refinery is located in the province of Mendoza, a possible location for the beginning of its retail operations. On the other hand, Fernando Riccomi does not rule out the possibility of implementing electric chargers in the near future. "We have to adapt to all circumstances, if a significant volume of vehicles appears and the business is to provide fast energy through service stations, and also if the technology allows it, we will analyze it. We will adapt to reality," he concluded.
