Incorporated in Singapore in 1978, AmeriBlend Inc., now headquartered in Kenner, Louisiana, has grown to achieve an annual turnover of $4 billion and trading volumes in excess of 15 million tons per annum. We expanded our services into North America by becoming an incorporated company in Delaware on April 27, 2009. Our initial area of focus was to enter the business of blending carbon black fuel oil for exports. Carbon black production is utilized in the production of automotive tires; when added to rubber, blended carbon black reduces their weight while increasing their strength and durability.
Standard Operating Procedures and Risk Management
We have implemented SAP in our business for accounting and financial controls. We have standard operating procedures for our business processes which act as an enabler in a growing business. Concurrently, we have robust risk management practices and policies, which help us to monitor and manage the business risks in a highly volatile business environment.
Our Parent Company
In March 2015, SSOE acquired AmeriBlend Inc. by buying all of the shares held by the original investors; SSOE now owns 100% of AmeriBlend Inc. Therefore, AmeriBlend Inc. is a wholly owned subsidiary of SSOE, a Singapore-based company with offices in 23 countries. SSOE is part of the $40 billion Aditya Birla Group and a leading bulk commodity trading solutions provider to clients across the globe. Keeping with its strategic vision, SSOE plans to develop and grow the fuel oil and residual oil business in North America.
AmeriBlend Inc. was initially capitalized with an amount of $1,000,000 USD by our three initial promoters, which are also owned by Aditya Birla Group: Thai Carbon Black Public Company Ltd. (TCB) (based in Bangkok, Thailand), SKI Investment Pte. Ltd., and Calyx Investments Pte. Ltd. (both based in Singapore). We enjoyed profitable operations initially, however, since the last four years, due to a slow market, the capital has since been eroded. Based on the business plan and on the recommendation of the AmeriBlend Board, SSOE has infused $2,000,000 USD in 2016 and intends to infuse more capital into our company and also arrange for credit arrangements to facilitate operations and new business. Additional capital is also planned to be sought from other investors. SSOE plans to revive the business model of AmeriBlend Inc. to involve it into the commodity trading business starting with fuel and residual oils and expanding into coal and petcoke.