OUR HISTORY
How was EPACEM created
In 1972 18 palm oil producers began discussions towards creating a cooperative business to extract palm oil from African Palm Trees’ fruit that was cultivated in their own plantations. They took advantage of the policies of Ecuador’s Bank, Banco Nacional de Fomento (“BNF”). BNF supported the creation and development the new businesses. Once the enterprise achieved a certain maturity level, BNF transferred its financial stake to organized productive groups.
- EPACEM was founded in 1973 as a mixed economy company. Its owners were BNF and 18 palm producers from the surrounding area.
- In 1978, palm oil extraction began at the plant located in Santo Domingo de los Colorados.
- In 1983, private shareholders purchased all of BNF’s shares, transforming EPACEM into a private company (EPACEM S.A). 100 more shareholders were added to EPACEM’s equity owners.
- In 1985, the company started refining processes and packaging of finished goods.
- In 1993, EPACEM started using fractionation processes.
- In 1997, a second palm oil extraction plant, located at Km 26 of the highway towards Quevedo, was acquired.
- In 1998, EPACEM purchased approximately 1,000 hectares of land in Valle del Sade and Las Lagunas, located in Ecuador’s Esmeraldas province.
- In 2004, the plant for manufacturing soap was acquired.
- In 2005, a third palm oil extractor located in the Golondrinas area was purchased.
- In 2006, EPACEM purchased a majority share in the only extracting plant located in Valle del Sade.
- As of 2007, EPACEM has 162 shareholders, 210 workers and a national presence throughout Ecuador.