Fortrec Chemicals, a Singapore-based commodity firm specializing in crude oil and petrochemical products, is expanding into Europe. To that end, it is establishing a joint venture with Swiss trading house Caprock.
With a 20-year track record, extensive trading operations focused on Asia, proprietary production facilities, and direct access to crude oil and its derivatives through its asset management arm, Fortrec Group is a privately-held Singaporean company with expertise in petrochemical products.
As recently disclosed, Fortrec, in collaboration with Zurich-based commodity trader Caprock – also specializing in petrochemical products – is setting up an office in Zug under the name Fortrec Switzerland.
Strategic Expansion
The new company will be managed by Caprock partners Benedikt Rieger and Raphael Hirsiger, according to Caprock.
Fortrec anticipates that this «strategic» expansion will «enhance our commodity trading operations, focusing on the European and Middle Eastern markets.»
For Caprock, the alliance presents an opportunity to combine the strengths and expertise of the two firms, to «better serve our clients and capitalize on new opportunities in the commodity trading landscape.»
