Plastiforte S.R.L.

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What it is

Plastiforte was born in 1978 as a plastics-pipe manufacturer and has since become Bolivia’s single most important producer of water-infrastructure pipework. It covers every stage of water management — storage, conveyance, distribution, pumping, drainage and treatment — and is the country’s pioneer and leader in certified HDPE (high-density polyethylene) pipe production.

Plastiforte holds more than 60% of Bolivia’s HDPE pipe market, supplying municipal water utilities, mining companies and irrigation projects from Cochabamba to Santa Cruz. Its legal scope also covers civil and hydraulic engineering works, gas-network infrastructure, and industrial-process installations of all kinds.

To make its HDPE pipe, the company imports polyethylene resin — primarily from the United States — and processes it by extrusion at its Bolivian plant. The flagship Supertubo® line carries ISO 9001 certification and the Bolivian IBNORCA quality mark to ISO 4427 standard.

Who owns it

Plastiforte is led by Edgar Heredia, the Bolivian entrepreneur who founded it; his son Gustavo Heredia now serves as General Manager and is himself a partner (owner) in the business. The company is structured as an S.R.L.

— a Bolivian limited-liability partnership — so ownership stakes are held as quota shares rather than publicly traded equity.

Not published: the precise percentage ownership split among family members is not disclosed in any BBV filing, ASFI registration document, or company investor-relations page reviewed for this profile. ASFI’s Ley del Mercado de Valores (Law 1834 and its successors) requires debt-issuing S.R.L.s to publish audited financial statements and material events on the exchange, but does not mandate public disclosure of the exact ownership percentages of quota holders, unlike listed equity companies.

Who runs it

Gustavo Heredia is the General Manager (Gerente General) and a partner of the company; he received the BBV normative-compliance award on the firm’s behalf in August 2024. Mauricio Garrón serves as Commercial Manager (Gerente Comercial).

Not published: the names of the CFO and any formal board chair are not disclosed in available BBV filings or ASFI regulatory cards reviewed for this profile. Plastiforte’s governance structure as an S.R.L.

does not require a board of directors under Bolivian commercial law, and no such body is identified in public filings.

The money, in plain words

Not published: annual revenue, net profit, net profit margin, return on equity, and a price-to-earnings ratio are not available in any publicly accessible document. The BBV’s financial-statements-by-issuer page (bbv.com.bo/estados-financieros-por-emisor) lists Plastiforte as an active debt issuer, and ASFI’s regulatory card (appweb.asfi.gob.bo) confirms its registration as ASFI/DSVSC-EM-PTF-003/2020.

Bolivia’s securities regulator requires debt issuers to file audited annual accounts, but those accounts are posted to the BBV member portal rather than freely downloadable in the public domain; direct retrieval of the PDF was not possible within the search window of this profile. The PCR Bolivia credit-rating report (most recently dated June 2025, based on data to 31 March 2025) contains financial ratios but is not published in full in open sources.

What the public record does confirm is this: the company’s paid-up capital is BOB 27,603,000 (~US$2.8m), and it has BOB 15,000,000 (~US$1.52m) in long-term bonds outstanding at 5.80% annual interest, maturing 29 December 2026, rated A2/Stable by PCR Bolivia. A separate commercial-paper program has BOB 20,000,000 (~US$2.03m) in authorised paper outstanding.

Bond proceeds have funded roughly US$4 million in new equipment, enabling production of the Supertubo® Struc — the largest pipe manufactured in Bolivia, with diameters from 400 to 1,500 mm.

What it is doing now

Plastiforte was recognised by the BBV for normative compliance in the 2023 financial year, a signal that it is meeting its bond-reporting obligations — important for a company that relies on the capital market to fund equipment purchases. The company’s most recent public move is the launch of SUPERTUBO® COR, a new corrosion-resistant pipe product aimed at sanitation infrastructure.

In April 2024 Plastiforte also took on a bank loan of BOB 10,290,000 (~US$1.04m) from Banco BISA S.A., combining bond-market and bank-loan funding as it expands capacity. The company employs more than 120 people directly and operates more than 50,000 m² of production and warehouse space across eight technical-commercial offices nationwide.

What to watch

• Bond maturity (December 2026). The BOB 15m (~US$1.52m) bond series matures on 29 December 2026. Whether Plastiforte refinances through a new bond issue or repays from operating cash will be the clearest public signal of its financial health.
• Market-share defence. With more than 60% of the HDPE pipe market, the company is the dominant player — but dominance attracts competition, particularly from imports as Bolivia’s foreign-exchange shortages ease or tighten.
• Bolivia’s dollar shortage. Plastiforte imports its core raw material — polyethylene resin — in dollars. A sustained shortage of hard currency in Bolivia squeezes margins directly and raises input costs; this is the single largest macro risk to the business.
• Disclosure upgrade. As a bond issuer, PCR Bolivia re-rates Plastiforte twice yearly. Any downgrade below A2 would raise its borrowing cost and signal deteriorating creditworthiness — worth monitoring on the BBV ratings page.
• Public infrastructure spending. Bolivia’s water-infrastructure investment — driven by municipal utilities and central government — is Plastiforte’s primary demand driver. A shift in government capital expenditure, up or down, flows directly to order books.

This is news, not investment advice.