Agronegocios 12 Septiembre 2012

Page 1

NÚMERO 64 - PRIMERA QUINCENA DE SEPTIEMBRE DE 2012

AGRONEGOCIOS LA MASCOTA PARA SU HIJO APRENDA A ELEGIR SEGÚN LA EDAD PÁG. 29

RETO EN LOS CANALES BOVINOS

LOS FRIGORÍFICOS COLOMBIANOS SE PREPARAN PARA ENTRAR A LOS GRANDES MERCADOS A TRAVÉS DEL FORTALECIMIENTO DE LA CADENA PRODUCTIVA. PÁG.14

LEA EN LA PRÓXIMA EDICIÓN: FRIJOL DE CAJAMARCA EN EL EXTERIOR.

L AC C I R CU

IÓ N

A T I U T A GR 99.800 1 ES PL AR M E J E

COLOMBIA EXPORTA EL MEJOR PURÉ DE

MANGO PÁG. 16-17 CONOZCA LAS NUEVAS TENDENCIAS EN TRANSPORTE Y MAQUINARIA AGRÍCOLA. PÁG. 18-25

HUEVOS EN POLVO, UNA INDUSTRIA QUE CRECE EN EL PAÍS

PRODUCIRLOS SE HA CONVERTIDO EN UN NEGOCIO RENTABLE TODO GRACIAS A SU CALIDAD, DURABILIDAD Y FACILIDAD EN LA ELABORACIÓN. PÁG. 10

SECTOR AZUCARERO LE APUESTA A LA COGENERACIÓN

UNA INTERESANTE MIRADA A LOS 11 INGENIOS AZUCAREROS QUE LE APUESTAN A AUMENTAR SU CAPACIDAD DE COGENERACIÓN. PÁG. 8-9


$"-&/%"3*0 '&3*"13*.&3" 26*/$&/" 4&15*&.#3& %&

4&15

4&15

4&15

0$5

26*/5" '&3*" */5&3/"$*0/"- &910&41&$*"-&4

7*** $0/(3&40 .6/%*"- '365"4 : )035"-*;"4

4&(6/%" (3"/ $&/" A6/" 7"$" 103 -" 1";

$0/(3&40 %& -" "7*$6-563" &/ $"-* 7"--&

$BGFUFSPT DPMPNCJBOPT Z FY QFSUPT EF MB JOEVTUSJB DBGFUF SB NVOEJBM TF EBSÈO DJUB FO USF FM Z FM EF TFQUJFN CSF FO 1PQBZÈO QBSB BTJTUJS B MB RVJOUB WFSTJØO EF MB GFSJB JOUFSOBDJPOBM &YQPFTQFDJB MFT DVZP PCKFUJWP QSJODJQBM FT GPNFOUBS MB QSPEVDDJØO Z DP NFSDJBMJ[BDJØO EF DBGÏT DPO WBMPS BHSFHBEP -PT BTJTUFO UFT B FTUB GFSJB UFOESÈO MB PQPSUVOJEBE EF QBSUJDJQBS FO DIBSMBT DBQBDJUBDJPOFT TPCSF FM VTP EF MBT OVFWBT UFDOPMP HÓBT UBMMFSFT EF DBUBDJØO Z TIPXT EF CBSJTNP */'03.&4

4&15 %²$*." 4²15*." $0/'&3&/$*" %& -" 1"-." %& "$&*5& 'FEFQBMNB SFBMJ[BSÈ MB 97** $POGFSFODJB *OUFSOBDJPOBM EF 1BMNB EF "DFJUF &M FWFOUP UFOESÈ MVHBS FO $BSUBHFOB EFM BM EF TFQUJFNCSF Z USBUBSÈ UFNBT PSJFOUBEPT B MB WJTJØO HMPCBM EFM OFHPDJP EF MB QBMNB EF BDFJUF EFTEF MB NJSBEB EF VO PSHBOJTNP NVMUJMBUFSBM Z DØNP TF QP ESÓBO BSUJDVMBS FNQSFOEJ NJFOUPT UBOUP FO MB BDUJWJEBE DPNP FO MB DBEFOB */'03.&4

&YQFSUPT EF NÈT EF QBÓTFT BTJTUJSÈO FM QSØYJNP EF TFQUJFNCSF FO $BMJ BM 7*** $PO HSFTP .VOEJBM EF 1SPNPDJØO BM $POTVNP EF 'SVUBT Z )PS UBMJ[BT &M FWFOUP RVF UFSNJ OBSÈ FM EF TFQUJFNCSF TF EFTBSSPMMB FO FM NBSDP EF MB QPMÓUJDB EF QSPNPDJØO EF &TUJ MPT EF 7JEB 4BMVEBCMF QBSB MB DVBM FM .JOJTUFSJP EF 4BMVE Z 1SPUFDDJØO 4PDJBM IB FTUBCMFDJ EP VO BDVFSEP DPO -B 0SHBOJ [BDJØO EF MBT /BDJPOFT 6OJEBT QBSB MB "MJNFOUBDJØO Z MB "HSJ DVMUVSB '"0 FO DPPQFSBDJØO DPO MB $PSQPSBDJØO $PMPNCJB *OUFSOBDJPOBM $$* QBSB FKFDV UBS FTUSBUFHJBT RVF QSPNVF WBO MB QSPEVDDJØO DPNFSDJBMJ [BDJØO BQSPWJTJPOBNJFOUP Z DPOTVNP EF MB HSBO EJWFSTJ EBE EF GSVUBT Z WFSEVSBT EFM QBÓT -BT FYQPTJDJPOFT TF DFO USBSÈO FO FTUSBUFHJBT NVOEJB MFT EF DPOTVNP */'03.&4

5SBT FM ÏYJUP EF MB QSJNFSB DFOB FO MB RVF TF MPHSØ SF DBVEBS WBDBT QBSB TFS FO USFHBEBT B GBNJMJBT DBNQFTJ OBT QPCSFT MB 'VOEBDJØO $P MPNCJB (BOBEFSB 'VOEBHÈO DPO FM BQPZP EF 'FEFHÈO SFBMJ[BSÈ FM QSØYJNP EF TFQUJFNCSF FO FM (SBO 4BMØO EFM $MVC &M /PHBM MB TFHVOEB (SBO $FOB A6OB WBDB QPS MB QB[ DPO MB QBSUJDJQBDJØO EF DIFGT EF UBMMB JOUFSOBDJPOBM

+FOOZ 1 1FSEPNP

&%*503" "(30/&(0$*04

'FOBWJ MMFWBSÈ B DBCP FOUSF FM Z EF PDUVCSF FO $BMJ FM $POHSFTP Z &YQPTJDJØO /BDJP OBM "WÓDPMB &M FWFOUP TFSÈ FO FM $FOUSP EF &WFOUPT 7BMMF EFM 1BDÓGJDP Z DPOUBSÈ DPO MB QBSUJ DJQBDJØO EF SFDPOPDJEPT DPO GFSFODJTUBT BEFNÈT EF VOB NVFTUSB DPNFSDJBM EF MBT EJGF SFOUFT FNQSFTBT EFM TFDUPS

*/'03.&4

0$5 $6.#3& .6/%*"- %& -" ("/"%&3¶" &/ '3"/$*"

*/'03.&4

&O MB DJVEBE EF $MFSNPOU 'SBODJB TF MMFWBSÈ B DBCP MB $VNCSF .VOEJBM EF MB (BOB EFSÓB RVF TF EFTBSSPMMBSÈ FO USF FM Z EF PDUVCSF EF FTUF B×P 4F FTQFSB RVF QBSUJDJQFO NÈT EF BOJNBMFT FO DPODVSTP EF MPT DVBMFT TFSÈO CPWJOPT PWJOPT Z FRVJOPT 4F FTQFSB MB QSFTFODJB EF QPS MP NFOPT FYQPTJUPSFT QSPDFEFO UFT EF OBDJPOFT */'03.&4

7&/5"/" "(301&$6"3*"

0$5 $0/(3&40 -"5*/0".&3*$"/0 %&- ."/(0 &M 4BMØO 3PKP EFM )PUFM 5F RVFOEBNB IB TJEP FM FTDFOB SJP FTDPHJEP QBSB MMFWBS B DBCP FM QSJNFS $POHSFTP -BUJ OPBNFSJDBOP EFM .BOHP &M FWFOUP TFSÈ FOUSF FM Z EF PDUVCSF

0$5

*/'03.&4

*** '&45*7"- : $0/(3&40 %& -" -&$)&

/RV PHMRUHV FUXFHV HVWD UiQ HQ HO ,,, )HVWLYDO \ &RQ JUHVR ,QWHUQDFLRQDO GH OD /HFKH HQ 6DQ *LO 6DQWDQGHU ORV GtDV \ GH RFWXEUH */'03.&4

/07

4&.*/"3*0 "(30/».*$0

/D $VRFLDFLyQ GH ,QJHQLHURV $JUyQRPRV GHO 7ROLPD OOHYDUi D FDER ORV GtDV \ GH QRYLHPEUH HQ ,EDJXp 7ROLPD HO SULPHU 6HPLQDULR ,QWHUQDFLRQDO 0DQHMR $JURQyPLFR SRU $PELHQWH \ $JULFXOWXUD GH 3UHFLVLyQ */'03.&4 35(6,'(17( (-(&87,92 ',$5,2 /$ 5(38%/,&$ -25*( +(51È1'(= 5(675(32 ',5(&725 *(1(5$/ )(51$1'2 48,-$12 9(/$6&2 *(5(17( *(1(5$/ -8$1 &$5/26 +(51È1'(= '( /$ &8(67$

&%*503" +&//: 1"53*$*" 1&3%0.0 3&%"$$*¶/ 5&3&4*5" $­-*4 %*"/" "33*&5" 9*.&/" 3".±3&; "%3*"/" 36*; 36#­/ -¶1&; "/" ."3±" #&%0:" %*4&µ0 & */'0(3"'±" &26*10 %& %*4&µ0 -" 3&16#-*$" '050(3"'±" +BWJFS +JNÊOF[ $PMQSFOTB #MPPNCFSH 4UPDL YDIOH 3' 0'*$*/"4 $BMMF % #JT /P " #PHPUÃ % $ $PMPNCJB $PONVUBEPS 0GJDJOB $FOUSP #BSSBORVJMMB $BMJ $BSUBHFOB .BOJ[BMFT .FEFMMÎO 1FSFJSB #VDBSBNBOHB &EJUPSJBM &M (MPCP 4 " &M DPOUFOJEP EFM QFSJÓEJDP "(30/&(0$*04 FT EF QSPQJFEBE EF &%*503*"- &- (-0#0 4 " RVFEB QSPIJCJEB TV SFQSPEVDDJÓO UPUBM P QBSDJBM FO DVBMRVJFS NFEJP DPOPDJEP P QPS DPOPDFSTF BTÎ DPNP TV USBEVDDJÓO B DVBM RVJFS JEJPNB TJO BVUPSJ[BDJÓO FTDSJUB EF TV UJUVMBS 5IF DPOUFOU PG UIF OFXTQBQFS "(30/&(0$*04 JT QSPQFSUZ PG &%*503*"- &- (-0#0 4 " JUT SFQSPEVDUJPO UPUBM PS JO QBSU CZ BOZ LOPXO PG GVUVSF NFBOT BOE JUT USBOTMBUJPO UP BOZ MBOHVBHF JT UPUBMMZ GPSCJEEFO XJUIPVU QSFWJPVT XSJUUFO XXX MBSFQVCMJDB DPN DP EJBSJP!MBSFQVCMJDB DPN DP QFSNJTTJPO GSPN UIF PXOFS ¥ $01: 3*()54 &%*503*"- &- (-0#0 4 " -BT PQJOJPOFT FYQSFTBEBT FO MPT BSUÎDVMPT RVF GJSNBO MPT DPMBCPSBEPSFT TPO MJCSFT Z EF FMMBT TPO SFTQPOTBCMFT TVT BVUPSFT /P DPNQSPNFUFO FM QFOTBNJFOUP FEJUPSJBM EF "(30/&(0$*04

5PEPT B DVSBS MB QFPS FOGFSNFEBE EFM QMBOFUB (VR GH TXH HO FDPELR FOL PiWLFR OOHJy SDUD TXHGDUVH \D QR HV QLQJ~Q FXHQWR PHQRV SRGHPRV VHU DMHQRV DO WHPD \ ROYLGDUQRV GH OD SHRU HQIHUPHGDG TXH SXH GH FRQWUDHU HO SODQHWD 7RGRV HQ DOJ~Q PRPHQ WR KHPRV VLGR WHVWLJRV GH ODV FRQVHFXHQFLDV TXH WUDH HO IXHUWH LQYLHUQR R GH OD SUHRFXSDFLyQ GH FLHQWRV GH DJULFXOWRUHV TXH OR KDQ SHU GLGR WRGR SRU FXOSD GH ODV VHTXtDV %DVWD FRQ YHU OR TXH HVWi SDVDQGR HQ (VWDGRV 8QLGRV HO IXHUWH FDORU \ OD IDOWD GH OOXYLD KD DIHFWDGR PiV GHO GH OD FRVH FKDV SULQFLSDOPHQWH GHO PDt] LQFOXVR HO SUHFLR GHO JUDQR VH KD LQFUHPHQWDGR HQ XQ HQ ORV GRV ~OWL PRV PHVHV $QWH HVWD VLWXDFLyQ HO JRELHUQR 2EDPD KD GHFOD UDGR ]RQDV FDWDVWUyILFDV D XQ WHUFLR GH ORV FRQGDGRV GH OD QDFLyQ OR TXH SHUPL WLUi D ORV DJULFXOWRUHV \ JD QDGHURV DIHFWDGRV VROLFLWDU FUpGLWRV D XQ EDMR LQWHUpV SDUD KDFHU IUHQWH D ORV GD xRV $XQTXH HVWH QR HV QXHV WUR FDVR QR SRGHPRV VHU DMHQRV DQWH OD LQFOHPHQFLD GHO FOLPD D~Q FXDQGR HO ,GHDP KD SURQRVWLFDGR OD OOHJDGD GHO IHQyPHQR GHO 1LxR FRQ PiV GH XQ GH SUREDELOLGDG TXH VH DFHQW~H D ILQDO GHO DxR (O SDQRUDPD HV FODUR \ QR SRGHPRV VHJXLU VLHQGR LQGLIHUHQWHV DQWH HVWD UHDOL GDG (V REOLJDFLyQ GH ODV DXWRULGDGHV JXEHUQDPHQ WDOHV \ GHO VHFWRU WRPDU PH GLGDV R DGRSWDU SODQHV GH FRQWLQJHQFLD SDUD QR WHQHU TXH HVSHUDU DVt FRPR OR KD GLFKR HO 0LQLVWUR GH $JUL FXOWXUD D TXH WRGR OR KDJD HO *RELHUQR +11&3%0.0!-"3&16#-*$" $0. $0

$*3$6-" (3"5*4 $0/


3&416&45"4 13*.&3" 26*/$&/" 4&15*&.#3& %&

"HSJDVMUVSB EF QSFDJTJØO TF JNQPOF FO FM QBÓT WLFR \ WUDWDGRV GH OLEUH FRPHUFLR HV XQD SULRULGDG OD DSOLFDFLyQ GH HVWD WHFQRORJtD

&RPSHWLWLYLGDG HQ HO DJUR WDP ELpQ LPSOLFD QXHYDV SUiFWLFDV TXH KDJDQ PiV HILFLHQWHV ODV ODERUHV GHO FDPSR (O LQJHQLHUR DJUyQRPR \ 3K ' HQ PDQHMR \ FRQVHUYDFLyQ GH VXHORV GH )HGHDUUR] $UPDQGR &DV WLOOD /R]DQR H[SOLFD SRU TXp OD DJULFXOWXUD GH SUHFLVLyQ VH FRQYLHU WH HQ XQD KHUUDPLHQWD SDUD DYDQ]DU KDFLD HVH SURSyVLWR

{$VÈMFT TFSÓBO MPT GBDUPSFT RVF EFTGB WPSFDFO TV BEPQDJØO /RV FRVWRV GH OD PDTXLQDULD PR GHUQD \ OD DFWXDOL]DFLyQ SHUPDQHQ WH GH QXHVWURV DVLVWHQWHV WpFQLFRV SDUD TXH SXHGDQ KDFHU HO WUDEDMR GH WUDQVIHUHQFLD GH WHFQRORJtD \ H[ WHQVLyQ UXUDO FRQ p[LWR

{1PS RVÏ FT JNQPS UBOUF BEPQUBS VOB BHSJDVMUVSB EF QSFDJ TJØO FO $PMPNCJB

3DUD JDQDU FRPSHWLWLYLGDG \ SURGXFWLYLGDG VH UHTXLHUH GH HVWD WHFQRORJtD SRU HVR HV LPSRUWDQWH DFWXDOL]DUQRV HQ HO WHPD

(Q &RORPELD \D VH HVWD LQLFLDQ GR &RQVLVWH HQ OD DSOLFDFLyQ GH WHF QRORJtD SDUD DXPHQWDU ORV UHQGL PLHQWRV

{2VÏ TFDUPSFT IBO FNQF[BEP B BEPQ UBSMB

/D FDxD GH D]~FDU GRQGH ORV LQ JHQLRV OLGHUDQ HVWRV SUR\HFWRV WDPELpQ RWURV VHFWRUHV FRPR HO FDIp OD SDOPD \ HO DUUR] \D HPSH ]DURQ FRQ OD DSOLFDFLyQ GH HVWD WHF QRORJtD

WJFKBT QSÈDUJDBT BEPQ UBS FTUF UJQP EF UFD OPMPHÓB

"3."/%0 $"45*--" *OWFTUJHBEPS EF 'FEFBSSP[

{&O RVÏ DPOTJTUF Z IBDF DVÈOUP MMFHØ B OVFTUSP QBÓT

{&T GÈDJM QBSB BM HVJFO RVF MMFWB UPEB VOB WJEB DPO

BHSJDVMUPS QBSB BEPQUBSMB {$VÈOUP EFCF JOWFSUJS VO 5HTXLHUH PDTXLQDULD PRGHUQD HVR LPSOLFD FUpGLWRV HVSHFLDOHV \ DOJR LPSRUWDQWH WHFQRORJtD GH SXQWD GH ULHJR SXHV OD DJULFXOWXUD HV FRQ DJXD \ FXDQGR HVWDPRV HQ pSRFD GH FDPELR FOL PiWLFR VH QHFHVLWD WHQHU HVWH UHFXUVR GH PDQHUD VRVWHQLEOH

{$PNP DPOUSJCVZF B NFKPSBS MB DPNQFUJUJWJEBE FO MPT TFD UPSFT QSPEVDUJWPT (VWi GHPRVWUDGR TXH D WUDYpV GH OD DJULFXOWXUD GH SUHFLVLyQ VH SXHGH VHU PiV SURGXFWLYR WRGD YH] TXH ORV GLVWULWRV GH ULHJR FXPSODQ FRQ VX IXQ

&257(6Ë$

FLyQ UD]yQ SRU OD TXH HV SULRULWDULR XQD PHMRU DG PLQLVWUDFLyQ GHO UHFXUVR KtGULFR

{&O RVÏ PUSPT QBÓTFT EFM NVOEP TF VUJMJ[B Z DVÈM IB TJEP TV JNQBDUP FO NBUFSJB FDPOØNJDB

(Q (VWDGRV 8QLGRV VH YLHQH XWLOL]DQGR FRQ EDVWDQWH p[LWR \ HQ 6XUDPpULFD %UDVLO \ $UJHQWLQD VRQ SLRQHURV HQ HVWD WHFQRORJtD

{2VÏ WFOUBKBT MF PGSFDF BM QSPEVDUPS DPMPNCJBOP FTUF UJQP EF UFDOPMPHÓBT 0RGHUQL]DU OD DJULFXOWXUD VLJQLILFD TXH QXHV WUR VHFWRU VREUHYLYD HQ WLHPSRV GH FDPELR FOLPi

(V XQ WUDEDMR GH SHUVLVWHQFLD TXH WLHQH TXH HPSH]DU \D (V QHFH VDULR HVWDU DELHUWRV DO FDPELR \ DGRSWDU WHFQRORJtD QXHYD TXLHQ QR OR KDJD VH YD TXHGDQGR DWUiV QR SRGUi VHU FRPSHWLWLYR \ WLHQGH D GHVDSDUHFHU

{$VÈMFT TPO MPT CFOFGJDJPT EF MB BHSJDVMUVSB EF QSFDJ TJØO QBSB FOGSFOUBS FM 5-$

+D\ TXH LQYHUWLU HQ HO FDPSR \ XQD IRUPD HV DSOLFDU HVWD WHFQRORJtD SDUD EDMDU FRVWRV GH SURGXFFLyQ \ PD[LPL]DU ORV UHQGLPLHQWRV HQ ID YRU GH XQD PD\RU FRPSHWLWLYLGDG


Á-5*."4 /05*$*"4 13*.&3" 26*/$&/" 4&15*&.#3& %&

("/"%&30

(0#*&3/0

$0.&3$*0

(BOBEFSPT NFKPSBO "SBODFM EF BHSPRVÓNJDPT TF SFEVKP B DFSP /P IBZ SB[POFT QSPEVDDJØO EF (O *RELHUQR 1DFLRQDO EDMy D .&/ \ HO IRVIDWR GLDPyQLFR '$3 6HJ~Q QBSB RVF BVNFOUF FHUR HO DUDQFHO GH LPSRUWDFLyQ HO MHIH GH OD FDUWHUD DJURSHFXDULD HVWRV MFDIF Z DSÓBT QSFDJP EFM BSSP[ GH DOJXQRV IHUWLOL]DQWHV LQVHF SURGXFWRV VRQ XQRV GH ORV SULQFLSDOHV IHUWL *DQDGHURV GHO GHSDUWDPHQ WR GH $QWLRTXLD KDQ ORJUDGR RSWLPL]DU OD SURGXFWLYLGDG GH VXV KDWRV FRQ HVSHUPD GH RUL JHQ FHUWLILFDGR D FRVWRV DVHTXLEOHV 7DO VR OXFLyQ FRPHQ]y HQ HO /DERUDWRULR SDUD HO 3URFHVDPLHQWR GH 6HPHQ %RYLQR GH OD 8QLYHUVLGDG 1DFLRQDO GH 0HGHOOtQ GRQGH VH DSOLFDQ FRQRFLPLHQWRV FLHQWtILFRV 3RU OR PHQRV XQRV JDQDGHURV GH PXQL FLSLRV GH HVWH 'HSDUWDPHQWR DXPHQWDURQ VX SURGXFFLyQ KDVWD HQ XQ HQ LQGL FDGRUHV FRPR SHVR GH ODV FUtDV REWHQFLyQ OiFWHD \ SUHFLRV GH YHQWD

$6-5*70

1SPHSBNB CVTDB FM JOHSFTP EF OVFWPT DBDBPUFSPT BM TFDUPS

WLFLGDV KHUELFLGDV IXQJLFLGDV \ GH ODV PDWHULDV SULPDV QHFHVDULDV SDUD OD IDEULFDFLyQ GH HVWRV SURGXFWRV (QWUH ORV LQVXPRV TXH UHFLELUiQ HO EHQHILFLR DUDQFH ODULR HVWiQ OD XUHD HO FORUXUR GH SRWDVLR

$6-5*70

OL]DQWHV XWLOL]DGRV SRU SURGXFWRUHV FRORP ELDQRV /RV SODJXLFLGDV \ IHUWLOL]DQWHV WLH QHQ XQ SHVR LPSRUWDQWH HQ OD HVWUXFWXUD GH FRVWRV GHO VHFWRU FRQ OR FXDO VH HVSHUD TXH OD PHGLGD EHQHILFLH OD SURGXFFLyQ

(O JHUHQWH GH OD )HGHUDFLyQ 1DFLRQDO GH $UURFHURV GH &R ORPELD 5DIDHO +HUQiQGH] DVH JXUy TXH QR H[LVWHQ UD]RQHV SDUD TXH DXPHQWH HO SUHFLR GHO DUUR] \ TXH HO WHPD REHGHFH PiV D XQD HVSHFXODFLyQ ³(V FLHUWR TXH HO iUHD GH FXOWLYR GLVPLQX\y HQ XQ SRFR PiV GH PLO KHFWiUHDV D QLYHO QDFLR QDO VLQ HPEDUJR OD SURGXFFLyQ GH HVWH DxR FRQ UHODFLyQ DO GHO DxR SDVDGR VH KDQ LQFUH (O *RELHUQR PHQVXDOHV SRU WR PHQWDGR´ DJUHJy $KRUD ELHQ ODV LPSRUWD RWRUJDUi XQ LQ QHODGD GH PDt] VHFR \ HO FLRQHV GHO FHUHDO SURYHQLHQWHV GH (FXDGRU \ FHQWLYR SDUD SHULRGR GH DOPDFHQDPLHQ 3HU~ \ ODV WRQHODGDV GH DUUR] TXH YDQ D LQ WRQHOD WR YD GHVGH HO GH DJRVWR JUHVDU GH (VWDGRV 8QLGRV GHVHVWLPDUtD XQ GDV GH PDt] VHFR TXH GHEHQ KDVWD HO GLFLHPEUH GH SRVLEOH GHVDEDVWHFLPLHQWR VHU FRPSUDGDV HQWUH HO /RV UHFXUVRV KDFHQ GH DJRVWR \ HO GH RFWXEUH SDUWH GHO SURJUDPD GH LQ DOPDFHQDGDV HQ ER FHQWLYR DO DOPDFHQDPLHQWR GHJDV SODQWDV VLORV y DO GH PDt] SDUD HO VHJXQGR VH PDFHQHV JHQHUDOHV GH GH PHVWUH GHO TXH SUR SyVLWR FHUWLILFDGRV SRU OD PXHYH HO 0LQLVWHULR GH 6XSHUILQDQFLHUD (O YDORU $JULFXOWXUD SDUD UHGXFLU ODV GHO LQFHQWLYR VHUi GH LPSRUWDFLRQHV

.BJDFSPT SFDJCJSÈO JODFOUJWP QPS DPTFDIB

$"'²

'FEFDBGÏ QSFPDVQBEP QPS MB SFWBMVBDJØO .JOJTUFSJP EF "HSJDVMUVSB EJTQVTP EF NJMMPOFT QBSB BQPZBS MB DPNFSDJBMJ[BDJÓO &DFDRWHURV GHO SDtV SRGUiQ UHFLELU GH D\XGD SRU WRQHODGD GH FDFDR HQ JUD QR FRPHUFLDOL]DGR IDFWXUDGR \ UHJLVWUDGR DQWH OD %ROVD 0HUFDQWLO GH &R ORPELD (O GLQHUR KDFH SDUWH GH ORV PLOORQHV TXH HO 0LQLVWHULR GH $JULFXOWXUD \ 'HVDUUROOR 5XUDO GLVSXVR SDUD ILQDQFLDU XQD QXHYD HWDSD GHO SUR JUDPD GH DSR\R D OD FRPHUFLDOL]DFLyQ HQ HO VHFWRU 'H DFXHUGR FRQ OR QRUPD HO FRPSUDGRU GHEHUi SDJDU DO SURGXFWRU HQ OD ]RQD GH SURGXFFLyQ HO SUHFLR GH PHUFD GR WRPDQGR FRPR UHIHUHQFLD HO SUHFLR GH OD LQGXVWULD HQ VXV FHQWURV GH FRQVXPR

0HGLGDV PiV DJUHVLYDV TXH D\XGHQ D HVWDELOL]DU OD WDVD GH FDPELR IXH OD SHWL FLyQ KHFKD SRU HO SUHVLGHQWH GH OD )HGHUDFLyQ 1DFLRQDO GH &DIHWHURV )HGHFDIp /XLV *HQDUR 0XxR] 2UWHJD DO *RELHUQR 1DFLRQDO $Vt PLVPR OH SLGLy DO %DQFR GH OD 5H S~EOLFD DXPHQWDU OD FRPSUD GH GyODUHV GLDULRV SDUD IUHQDU OD UHYDOXDFLyQ GH OD PRQHGD ORFDO 0XxR] 2UWH JD VH UHILULy DO FDVR SH UXDQR \ D ORV PHFD QLVPRV TXH HVWi XWLOL]DQGR SDUD HVWDELOL]DU OD WDVD GH FDP ELR µ(O HMHP SOR GHO 3HU~ SDtV TXH DSOLFD GH PDQH UD H[LWRVD µXQ UpJLPHQ

*/'3"&4536$563"

/VFWF EJTUSJUPT EF SJFHP EFM QBÓT NFKPSBSÈO FO PCSBT

GH LQWHUYHQFLyQ PiV DJUHVLYR \ HVWHULOL]D GR VLUYH GH FODUR UHIHUHQWH¶ DVHJXUy (O GLULJHQWH JUHPLDO UHFRUGy TXH HO SHVR HV KR\ HQ GtD OD PRQHGD PiV UHYDOXDGD GHO FRQWLQHQWH OR FXDO UHVWD FRPSHWLWLYLGDG DO VHFWRU FDIHWHUR µ'HV GH HO \ KDVWD OD IHFKD HO SHVR FR 6H WUDWD GH OD QXHYD LQYHU ORPELDQR VH KD UHYD VLyQ TXH KD GHVWLQDGR HO ,QVWL OXDGR DOUHGHGRU WXWR &RORPELDQR GH 'HVDUUROOR GHO ´ GLMR 5XUDO ,QFRGHU SDUD PMHRUDU GLVWULWRV GH ULHJR GHO SDtV XELFDGRV HQ $WOiQWLFR &yUGRED 0DJGDOHQD 1RUWH GH 6DQWDQGHU 3XWXPD\R \ 6DQWDQGHU TXH UH VXOWDURQ DIHFWDGRV SRU OD ROD LQYHUQDO /D FRQWUDWDFLyQ GH REUDV HVWi SRU HO RUGHQ GH ORV PLOORQHV $Vt PLVPR HO ,QFR GHU LQIRUPy TXH HO SDVDGR GH DJRVWR GHO SUHVHQWH DxR VH GLR DSHUWXUD DO SURFHVR GH VHOHFFLyQ DEUHYLDGD SDUD OD FRQWUDWDFLyQ GH ODV REUDV GH UHKDELOLWDFLyQ GHO GLVWULWR FX\D DGMXGLFDFLyQ VH UHDOL]DUi D PHGLDGRV GH VHSWLHPEUH GH


llegamos PARA QUEDARNOS Porque conocemos tus necesidades y sabemos lo que quieres

Tecnología Italiana Disponibilidad inmediata de Tractores Amplio stock de repuestos Garantía de 3 años o 4.000 horas de uso Servicio postventa

Carrera 43 No. 31-40. PBX (574) 4446441. Medellín. www.tractocentrocolombia.com


$-*." 13*.&3" 26*/$&/" 4&15*&.#3& %&

"MNBDFOBS VOB PQDJØO BOUF MB TFRVÓB /D SUREDELOLGDG GH TXH VH LQWHQVLILTXH HQ HO SDtV HO IH QyPHQR GH (O 1LxR TXH HP SH]y D IRUPDUVH KDFLD ILQD OHV GH HVWH VHPHVWUH \D VX SHUD HO VHJ~Q OR KD GL FKR HO ,GHDP < DXQTXH QR VH VDEH FXiO VHUi VX YHUGDGH UD LQWHQVLGDG DOJXQRV OH DSXHVWDQ D TXH VHUi IXHUWH \ SURORQJDGR \ RWURV PRGHUD GR OR FLHUWR HV TXH SUHSDUDU VH GHVGH \D SDUD HQIUHQWDU XQD SRVLEOH VHTXtD QR VREUD 0XFKR PiV VL VH KDEOD GHO VHFWRU DJURSHFXDULR TXH SR GUtD UHFLELU ORV HIHFWRV GLUHF WRV GH XQD ROD GH FDORU /D UHGXFFLyQ GHO SRUFHQ WDMH GH OOXYLD \D VH HVWi VLQ WLHQGR HQ UHJLRQHV FRPR OD $QGLQD \ HQ GHSDUWDPHQWRV FRPR 5LVDUDOGD VH UHSRUWD EDMD FRQVLGHUDEOH HQ HO FDX GDO GH UtRV ¢&yPR SUHSDUDUVH SDUD OD VHTXtD" 'LUHFWLYRV JUH PLDOHV \ GLYHUVDV HQWLGDGHV TXH WUDEDMDQ FRQ HO VHFWRU DJURSHFXDULR FRQVXOWDGRV SRU $JURQHJRFLRV FRLQFLGHQ HQ XQD SDODEUD DOPDFHQD PLHQWR 3RU HOOR XQ SULPHU SDVR HV HVWDEOHFHU XQD HVWUDWHJLD SDUD DOPDFHQDU DOLPHQWRV

\ UHVHUYDU DJXD TXH SHUPL WDQ JDUDQWL]DU FRPLGD D ORV DQLPDOHV \ HO ULHJR D ORV FXOWLYRV ³/R KHPRV GLFKR PXFKDV YHFHV OD ~QLFD PDQHUD HV DSURYHFKDU ODV DJXDV GH DTXt D GLFLHPEUH SDUD VHPEUDU IRUUDMHV FRVHFKDUORV \ JXDU GDUORV (V DOPDFHQDU SDUD FXDQGR OOHJXH OR PiV GXUR GH OD VHTXtD (O JDQDGHUR TXH QR KDJD HVR YD D WHQHU TXH FRPSUDU D DOWRV FRVWRV R VRPHWHUVH D XQD VLQLHVWUDOL GDG HQ ORV KDWRV´ GLMR HO SUH VLGHQWH GH )HGHJiQ -RVp )p OL[ /DIDXULH 6LQ HPEDUJR GLFH TXH QH FHVLWDQ GH OD PDQR GHO *R ELHUQR 1DFLRQDO SDUD TXH OHV D\XGH D ILQDQFLDU LQIUDHV WUXFWXUD TXH OHV SHUPLWD UHD OL]DU HVDV ODERUHV GH DOPDFH QDPLHQWR \ SURWHJHUVH FRQ WUD OD VHTXtD ³+DFH PiV GH PHVHV HVWDPRV WUDPLWDQGR XQRV UHFXUVRV SDUD XQDV ER GHJDV SHUR WRGRV ORV GtDV KD\ XQ LQFRQYHQLHQWHV HQ HO )RQ GR GH $GDSWDFLyQ 6L QR QRV SUHSDUDPRV \D GHVSXpV QR KDEUi FKDQFH \ YDPRV D OOR UDU VREUH OD OHFKH GHUUDPD GD´ VHxDOy 3RU VX SDUWH HO JHUHQWH JHQHUDO GH )HGHD

-B SFHJÓO "OEJOB ZB TJFOUF EJTNJOVDJÓO FO MBT MMVWJBT 5(87(56

i-0 )&.04 %*$)0 .6$)"4 7&$&4 -" ¼/*$" ."/&3" %& "1307&$)"3 &- "(6" %& "26± " %*$*&.#3& &4 "-."$&/"/%0u +04& '&-*9 -"'"63*& 1SFTJEFOUF EF 'FEFHÈO

UUR] 5DIDHO +HUQiQGH] GLMR TXH VL EDMDQ ORV FDXGDOHV GH ORV UtRV VH SXHGHQ DIHFWDU ORV GLVWULWRV GH ULHJR 3RU HOOR UHFRPLHQGD KD FHU VLHPEUDV SURJUDPDGDV R HVFDORQDGDV SDUD QR FXOWLYDU WRGR DO PLVPR WLHPSR \ HYL WDU XQD GHPDQGD PDVLYD GH DJXD HQ XQ PLVPR PRPHQWR OR TXH OHV GD FKDQFH GH URWDU ORV FDQDOHV ³/D LGHD HV TXH OD VHTXtD QR QRV FRMD FRQ WR

{$».0 )"$&3 -" 3&4&37" &- %"50 %& "(6" &/ -" 4&26¶" "OUFT EF IBDFS SFTFSWBT EF BHVB TF EFCF QFOTBS FO DPNP DPOTFSWBSMB &M *EFBN 'FEFHÈO FM .JOJTUFSJP EF "HSJDVMUVSB Z $PSQPJDB BQVOUBO B RVF QSJNFSP TF EFCFO QSPUFHFS MPT NBOBOUJBMFT OBDJNJFOUPT RVFCSBEBT SÓPT DJÏOBHBT MBHVOBT QP[PT Z FNCBMTFT 4F EFCF FWJUBS FM BDDFTP EFM HBOBEP B MPT CPTRVFT Z DVSTPT EF BHVB OBDJNJFOUPT Z NJDSP DVFODBT $PO SFTQFDUP BM BMNBDFOBNJFOUP EF BHVB ÏTUF TF EFCF IBDFS FO KBHàFZFT MBHPT SFQSFTBT Z UBORVFT FOUSF PUSPT -PT KBHàFZFT TF FTUBCMFDFO FO [POBT EF QFOEJFOUF B QBSUJS EFM SFQSFTB NJFOUP EFM BHVB MMVWJB RVF MVFHP MMFHB B MPT SFTFSWPSJPT GDV ODV KHFWiUHDV VHPEUDGDV DO PLVPR WLHPSR´ DJUHJy 6RVWXYR TXH HO SDtV DGR OHFH GH VLVWHPDV GH UHVHUYR ULRV GH DJXD TXH HV JXDUGDU HO OtTXLGR TXH FDH HQ LQYLHU QR ³(VD HV XQD WDUHD TXH HO *RELHUQR WLHQH SHQGLHQWH´ LQGLFy 2WUDV UHFRPHQGDFLRQHV DSXQWDQ D HMHUFHU FRQWURO VREUH SODJDV \ HQIHUPHGD

GHV SURSLDV GHO FDORU PDQ WHQHU DFWLYRV ORV VLVWHPDV GH YLJLODQFLD SDUD SUHYHQLU LQFHQGLRV KDFHU PDQWHQL PLHQWR GH ORV VLVWHPDV GH ULHJR \ UHGXFLU OD FDUJD DQL PDO VREUH WRGR HQ OD JDQD GHUtD SRUTXH KDEUi PHQRV DOLPHQWR \ DJXD GLVSRQLEOH 7DPELpQ VH UHFRPLHQGD UH VHUYDU DJXD SRWDEOH SDUD HO FRQVXPR KXPDQR

103 $*&/50 &4 -"

130#"#*-*%"% %& 26& 4& '03.& 6/ '&/¶.&/0 %& &- /*µ0 &/ $0-0.#*" $6:" '"4& */5&/4" 4&3¦ " '*/ %& "µ0

"/«-*4*4

"HSJDVMUVSB Z DBNCJP DMJNÈUJDP +6"/ +04² 1&3'&355* $POTVMUPS F JOWFTUJHBEPS BHSÓDPMB BTPDJBDJEP B 'FEFTBSSPMMP

(O IHQyPHQR GHO FDPELR FOLPi WLFR \ VX HIHFWR VREUH OD DJULFXOWXUD HV XQ KHFKR FDGD YH] PiV SDOSDEOH HQ GLYHUVDV UHJLRQHV GHO PXQGR 1R KDFH PXFKR VH KDEODED GH OR TXH DFRQWHFtD HQ OD UHJLyQ FRQRFL GD FRPR HO &XHUQR GH ÈIULFD \ KDFH SRFR PiV GH XQ SDU GH PHVHV VH FRQRFLy DFHUFD GH OD VHTXtD HQ (VWDGRV 8QLGRV TXH KD VLGR OD SHRU HQ ORV ~OWLPRV DxRV (Q DPERV FDVRV ORV HIHFWRV HQ OD SURGXFFLyQ DJUtFROD KDQ VLGR GHYDVWDGRUHV (Q HO &XHUQR GH ÈIULFD OD VHTXtD GLR OXJDU D JUDYHV SUREOHPDV FRPR OD KDPEUXQD JH QHUDOL]DGD HQ GLFKD UHJLyQ IHQy PHQR TXH D VX YH] VLJQLILFy OD PXHUWH GH FLHQWRV GH SHUVRQDV HV SHFLDOPHQWH GH QLxRV (Q HO SDtV GHO QRUWH ODV DIHFWDFLRQHV HQ ODV FRVHFKDV GHO PDt] \ VR\D IXHURQ UHVSHFWLYDPHQWH GHO \ HO SRU FLHQWR +R\ ORV SUHFLRV LQWHUQDFLR QDOHV GH HVWRV SURGXFWRV HVWiQ DO DO]D FRPR FRQVHFXHQFLD GH GLFKD VHTXtD

3RU VX SDUWH HQ &RORPELD HQ ORV GRV ~OWLPRV DxRV VH KD YLVWR FyPR HO FUXGR LQYLHUQR KD FDXVDGR GLYHUVDV WUDJHGLDV KXPDQDV H LQ PHQVRV GDxRV PDWHULDOHV (QWUH HVWRV GDxRV HVWiQ ORV TXH DIHFWDQ D OD SURGXFFLyQ DJURSHFXDULD (Q SDUWLFXODU HVWiQ ODV LQXQGDFLRQHV ORV GDxRV HQ ODV FRVHFKDV \ ODV DIHFWDFLRQHV HQ HO FLFOR GH YLGD GH ODV SODQWDV \ ORV DQLPDOHV 7RGR HVWR UHGXMR OD RIHUWD DOLPHQWDULD \ DIHFWy HO SUHFLR GH ORV DOLPHQWRV $KRUD VH KDEOD GH XQ HYHQWXDO IHQyPHQR GHO 1LxR TXH WUDGLFLR QDOPHQWH KD WHQLGR PD\RU LPSDFWR HQ OD DJULFXOWXUD TXH HO GH OD 1LxD (V FODUR TXH DO PRPHQWR HO VHFWRU DJURSHFXDULR FRORPELDQR QR HVWi SUHSDUDGR \ QR WLHQH GHIL QLGD XQD FODUD HVWUDWHJLD GH DFFLyQ IUHQWH DO FDPELR FOLPiWLFR /DV SR FDV DFFLRQHV TXH VH KDQ LPSOH PHQWDGR VRQ OLPLWDGDV HQ VX DO FDQFH \ QR DVHJXUDQ XQ PDQHMR DGHFXDGR GH XQ IHQyPHQR FRP SOHMR \ DOWDPHQWH LPSUHGHFLEOH


$6-5*704 13*.&3" 26*/$&/" 4&15*&.#3& %&

-BT DMBWFT QBSB DVMUJWBS VOB UB[B EF DBGÏ FYDFQDJPOBM (O FDIp GH $UQXOIR /HJXt ]DPR XQ FXOWLYDGRU KXLOHQ VH GH 6DQ $JXVWtQ SDUD VHU H[DFWRV DFDULFLy ODV PLHOHV GHO FDIp SHUIHFWR 6X FDOLILFD FLyQ IXH GH SXQWRV VR EUH HQ HO FRQFXUVR GH GH OD 7D]D GH OD ([FH OHQFLD TXH FDGD DxR SUR PXHYH OD )HGHUDFLyQ GH &D IHWHURV EDMR ORV SURWRFRORV GH 7KH $OOLDQFH IRU &RIIHH ([FHOOHQFH < VL ELHQ QR REWXYR HO Vt VHGXMR D XQ FRPSUD GRU LQWHUQDFLRQDO TXH VLQ SHQVDUOR GRV YHFHV SDJy SRU HVWH JUDQR HQ XQD VXEDVWD 86 SRU OLEUD QDGD VHPH MDQWH D OR TXH OD LPSODFDEOH EROVD GH 1XHYD <RUN PDUFD ED HO DxR SDVDGR SRU XQ FDIp VXDYH FRPR HO GH GRQ $UQXO IR XQ SRFR PiV GH 86 ¢4Xp KDFH GLVWLQWR HO FDIp GH

i-0 26& .¦4 7"-03"/ -04 +6&$&4 &4 &- 1&3'*- %& 5";" : &450 &4 -" -*.1*&;" &- "30." &- $6&310 -" "$*%&; &- 4"#03 3&4*%6"- : -0 26& --"."/ -" *.13&4*¶/ (-0#"-u $"3-04 "-#&350 (0/;«-&; %JSFDUPS $BGÏT &TQFDJBMFT 'FEFSBDJØO /BDJPOBM EF $BGFUFSPT

/HJXt]DPR" ³(V XQ UDPLOOH WH GH FRVDV LPSRUWDQWHV GLFH HVWH FXOWLYDGRU TXLHQ UHVXPH OD FODYH GH XQD WD]D H[TXLVLWD HQ GRV SDODEUDV SDFLHQFLD \ GHGLFDFLyQ $XQTXH HO FOLPD \ ODV FRQGLFLRQHV GHO VXHOR VRQ IDFWRUHV IXQGDPHQWDOHV SDUD REWHQHU FDIpV H[FHSFLR QDOHV OD PD\RU SDUWH GH OD WDUHD UHFDH HQ HO PLVPR FXO WLYDGRU ³6H FRPLHQ]D GHVGH OD SUHSDUDFLyQ GHO WHUUHQR \ VL JXH WRGR HO SURFHVR GHVGH HO VHPLOOHUR KDVWD OD FRVHFKD (VWH HV XQR GH ORV SDVRV PiV LPSRUWDQWHV SRUTXH VH GHEH

FRJHU HO FDIp HQ HO PRPHQWR MXVWR VyOR ORV JUDQRV PDGX URV /XHJR YLHQH HO EHQHILFLR \ DKt KD\ TXH FXLGDU HO ODYD GR OD IHUPHQWDFLyQ \ HO VHFD GR ,QFOXVR VDEHUOR DOPDFH QDU \ WUDQVSRUWDU 6L DOJR VH SDVD GH WLHPSR DKt TXHGD WRGR´ DJUHJD (O UHVXOWDGR GH HVR HV TXH /HJXt]DPR HVWi HQ HO WRS GH ORV FDIpV PiV H[TXLVLWRV GHO PXQGR FRQ XQD WD]D OLPSLD GH DFLGH] SURQXQFLDGD VD ERU D PDQ]DQD YHUGH D OL PRQFLOOR \ FRQ QRWDV GH PD UDFX\i \ FDUDPHOR 6LQ GXGD H[FHSFLRQDO

-PT GBDUPSFT EJGFSFODJBEPSFT TPO DMBWFT QBSB MPT DBUBEPSFT

+DFH RFKRV DxRV HQ VX UHJLyQ HQ HO +XLOD FDIH WHURV HPSH]DURQ FRQ pO XQ SURJUDPD GH FDIpV HVSHFLD OHV 'H HOORV VyOR WHUPLQD URQ HO SURFHVR ORV SHUVHYH UDQWHV TXH VLQ GXGD YLHURQ OR UHVXOWDGRV ³7HQHPRV XQDV SURSLHGDGHV OR TXH GHEH PRV KDFHU HV FXLGDUODV´ FRQFOX\H

{26² .*3"/ -04 +63"%04 &/ -" $"5"$*»/ %& 5";"4 +PIO &IJEFS &TQJUJB MB UJFOF DMBSB i-P RVF NÈT WBMPSBNPT MPT KVFDFT FO MBT DBUBDJPOFT EF UB[B TF SFTVNF FO MJNQJF[B BDJEF[ Z EVM[VSBw TF×BMB &TUF DBUBEPS DPNQPOESÈ FM HSVQP EF KVFDFT RVF WBMPSBSÈ MBT NVFTUSBT GJOBMFT FO FM DPODVSTP 5B[B EF MB &YDFMFODJB RVF TF QSFNJB FTUF EF TFQUJFNCSF i4F NJSB UBNCJÏO DPNP TF DPOKVHBO MPT TBCPSFT RVF QSFTFOUB MB UB[B FM CBMBODF Z DJFSUBT OPUBT FTQFDJBMFT DPNP B GMPSFT GSVUBT DIPDPMBUF P WJOP UJOUPw TF×BMB 4J CJFO FTUBT QSPQJFEBEFT QVFEFO TFS OBUVSBMFT VO NBM NBOFKP EFM DBGÏ QVFEF UJSBSTF VOB CVFOB UB[B

MPUFT QVKBO QPS MB FYDFMFODJB

46#"45"

&/ &--" 1"35*$*1"/ 5045"%03&4 %&- .6/%0 : 5*&/& 6/ 13&$*0 .±/*.0 %& 16+" &- "µ0 1"4"%0 '6& %& 64 103 -*#3" : 4*&.13& 4& )" 461&3"%0 &4& 7"-03

&- %"50

16/504 40#3&

10%3±"/ 4&3 46'*$*&/5&4 1"3" $-"4*'*$"3 &/53& -04 .&+03&4 -05&4 %& $"'­

'H ORWHV GH FDIp LQVFULWRV SDUD HO FRQFXUVR 7D]D GH OD ([FHOHQFLD GH VyOR OOHJDURQ D OD IL QDO (VWRV VRQ YDORUDGRV SRU XQ JUXSR GH MXUDGRV LQ WHUQDFLRQDOHV TXH FRQ VX FDWD HOHJLUiQ DO WRS WHQ GH ORV FDIpV PiV H[TXLVLWRV GHO SDtV 7RGR VH UHDOL]D EDMR OD FRPSHWHQFLD 7D]D GH OD ([ FHOHQFLD TXH HVWH DxR VH UHDOL]D HQ 3RSD\iQ \ TXH SURPXHYH OD )HGHUDFLyQ 1DFLRQDO GH &DIHWHURV EDMR ORV SURWRFRORV GH 7KH $OOLDQ FH IRU &RIIHH ([FHOOHQFH GH (VWDGRV 8QLGRV (O REMHWLYR GHO FRQFXUVR TXH HVWH DxR OOHJD D VX GpFL PD YHUVLyQ HV LQFHQWLYDU \ SURPRYHU OD SURGXFFLyQ GH FDIp GH DOWD FDOLGDG HQ WRGR HO SDtV 6REUH HOOR ORV FDIHWH URV \D WLHQHQ FRQFLHQFLD \ XQD SUXHED GH HOOR HV TXH SDUD HVWH DxR VH EDWLy UpFRUG HQ ORWHV LQVFULWRV ³3DUD HVWH

5SFJOUB DBUBEPSFT EF FMMPT FYUSBOKFSPT Z DPMPNCJBOPT DPOGPSNBO FM KVSBEP &OUSF MPT MPUFT RVF MPHSFO P NÃT QVOUPT TF FTDPHFO MPT USFT NFKPSFT &TUPT UFOESÃO MB %JTUJODJÓO EF $BMJEBE FRQFXUVR VH DFRSLDURQ FDIpV HQ DEULO PD\R MXQLR \ MXOLR GH $QWLRTXLD (MH &DIHWHUR &DXFD &XQGLQDPDUFD +XL OD 1DULxR 1RUWH GH 6DQWDQ GHU 7ROLPD \ 9DOOH GHO &DX FD 6RQ ORWHV GH NLORV GH SHUJDPLQR VHFR ELHQ EH QHILFLDGR FRQ KXPHGDG HQ WUH HO \ FRQ PX\ EDMR

FRQWHQLGR GH GHIHFWRV \ XQD WD]D OLPSLD 6H KL]R XQD FD WDFLyQ \ XQD SUHVHOHFFLyQ \ GH ORV TXHGDURQ TXH IXHURQ YDORUDGRV SRU XQ MXUDGR QDFLRQDO 'H HVWRV TXHGDURQ ORV PHMRUHV TXH OOHJDURQ D OD ILQDO \ TXH WLHQHQ FRPR MXH FHV H[SHUWRV FDWDGRUHV LQWHU

QDFLRQDOHV (V XQD FDWDFLyQ FLHJD SRUTXH HOORV QR FRQR FHQ QL OD SURFHGHQFLD QL ORV GXHxRV GH ORV ORWHV $TXt QR LPSRUWD VL VRQ JUDQGHV R SH TXHxRV FXOWLYDGRUHV´ VHxDOy HO GLUHFWRU GH &DIpV (VSHFLD OHV GH OD )HGHUDFLyQ 1DFLR QDO GH &DIHWHURV &DUORV $O EHUWR *RQ]iOH]

(VWD YDORUDFLyQ VH HVWi KDFLHQGR GHVGH HO SDVDGR GH VHSWLHPEUH \ FXOPLQDUi HO GHO PLVPR PHV FRQ OD HV FRJHQFLD GH ORV PHMRUHV ORWHV 'H HVWRV VDOGUi HO WRS WHQ TXH VH FRQRFHUi HQ ORV DFWRV GH SUHPLDFLyQ HVWH YLHUQHV HQ 3RSD\iQ 3DUD FODVLILFDU HQ HVWD VH OHFWD OLVWD TXH OH HQWUHJD DO FDILFXOWRU GXHxR GHO ORWH HO WLTXHWH SDUD SDUWLFLSDU HQ XQD VXEDVWD LQWHUQDFLRQDO HQ RFWXEUH \ YHQGHU DO PHMRU SRVWRU VX JUDQR OD WD]D GHEH VXSHUDU ORV SXQWRV GH FD OLILFDFLyQ VREUH XQ WRWDO GH ³8Q FDIp HV H[FHSFLRQDO FXDQGR SRU VXV FDUDFWHUtVWL FDV VHQVRULDOHV HQ PX\ FRP SOHWR 6X WD]D GHEH VHU OLP SLD FRQ XQD GXO]XUD H[ WUDRUGLQDULD \ DFLGH] EULOODQ WH GHEH VHU HIHUYHVFHQWH \ DO FRQMXJDU VXV FDUDFWHUtVWL FDV WLHQH XQ EDODQFH SHUIHF WR´ GLMR HO FDWDGRU -RKQ (KLGHU (VSLWLD


"(3¶$0-" 13*.&3" 26*/$&/" 4&15*&.#3& %&

3&(6-"$*»/ %& -" "$5*7*%"% &/ &- 1"¶4 &O $PMPNCJB MB DPHFOFSBDJØO IB WFOJEP FTUJNVMÈOEPTF EFTEF MB FYQFEJDJØO EF MB -FZ EF EPOEF TF DSFB VOB FYFO DJØO B MB SFOUB HFOFSBEB QPS MB WFOUB EF FOFSHÓB QSPWFOJFOUF EF CJPNBTB 7BSJPT EF MPT JODFOUJWPT B MB DPHFOFSBDJØO DPOUFNQMB EPT FO MB MFHJTMBDJØO BDUVBM TF EJTJQBO QPS DVFOUB EF MBT FYJHFODJBT EF MB NJTNB MFZ QBSB IBDFSTF BDSFFEPSFT B FMMPT 4JO FNCBS HP FM NBSDP MFHBM TF IB JEP BKVTUBOEP &M EF KVMJP EF FOUSØ FO WJHFODJB MB -FZ

NFEJBOUF MB DVBM TF FYJNF B MPT DPHF OFSBEPSFT EF QBHBS MB DPOUSJCVDJØO EFM TPCSF MB FOFSHÓB RVF HFOFSFO QBSB TV DPO TVNP 1PS TV QBSUF MB SFTPMVDJØO $3&( EF GFCSFSP EF SFHMBNFOUB B MB DPHFOF SBDJØO EJGFSFODJÈOEPMB EF PUSPT UJQPT EF HFOFSBDJØO i&TUB EFGJOJDJØO FT JNQPSUBOUF FO MB NFEJEB RVF TF QVFEBO HFOFSBS FTUÓ NVMPT Z DPOEJDJPOFT QBSUJDVMBSFT QBSB FM EFTBSSPMMP EF MB DPHFOFSBDJØOw EJKP +PIBO .BSUJOF[ EJSFDUPS FDPOØNJDP EF "TPDB×B

i1"3" &- 4& &45*." 26& -" $"1"$*%"% %& $0(&/&3"$*¶/ %&- 4&$503 4&" %& .8 %& -04 $6"-&4 .8 4&3¦/ 1"3" 7&/%&3 "- .&3$"%0u -6*4 '&3/"/%0 -0/%0º0 $"16330 1SFTJEFOUF EF "TPDB×B

i$0/ -04 130:&$504 %& &91"/4*¶/ %& -04 */(&/*04 ";6$"3&304 &/ "-$0)0- $"3#63"/5& &- 4&$503 10%3¦ $0/5"3 $0/ .":03 $"/5*%"% %&- */46.0 1"3" -" $0(&/&3"$*¶/u +0)"/ ."35*/&; %JSFDUPS &DPOØNJDP EF "TPDB×B

4FDUPS B[VDBSFSP QPUFODJB FO $"1"$*%"% %& $0(&/&3"$*¶/ %& &/&3(±" &-­$53*$" %& -04 */(&/*04 ";6$"3&304 &4 %& .8 $0/ 7&/5"4 %& .8 " 53"7­4 %& -" 3&%

&- %"50

103 $*&/50 %& -"4 4&*4 .*--0/&4 %& 50/&-"%"4 %& #"(";0 130%6$*%"4 "- "µ0 4& 64" $0.0 $0.#645*#-&

(O VHFWRU D]XFDUHUR KD VLGR VHxDODGR SRU HVWXGLRV QDFLRQDOHV H LQWHUQDFLRQD OHV FRPR DTXHO GH PD\RU SRWHQFLDO GH FRJHQHUDFLyQ HQ &RORPELD SRU VX GLVSR QLELOLGDG GH ELRPDVD HQ HVSHFLDO HO EDJD]R (VWH VXESURGXFWR GHULYDGR GH SURFHVRV GH FRVHFKD \ PR OLHQGD GH FDxD FRQVWLWX\H OD IXHQWH SULPDULD GH HQHU JtD SDUD OD FRJHQHUDFLyQ /D FDSDFLGDG GH FRJHQH UDFLyQ GHO SDtV UHJLVWUDGD DQWH HO &HQWUR 1DFLRQDO GH 2SHUDFLyQ GHO 6LVWHPD (OpF WULFR KD SUHVHQWDGR XQ LQ FUHPHQWR LPSRUWDQWH DO SD VDU GH 0: HQ D 0: HQ (VWR UHSUH VHQWD HO GH OD FDSDFL GDG GH JHQHUDFLyQ HIHFWLYD QHWD GHO SDtV (QWUH WDQWR OD FDSDFL GDG HIHFWLYD QHWD LQVWDODGD HQ HO 6LVWHPD ,QWHUFRQHFWD GR 1DFLRQDO DO ILQDOL]DU HO DxR IXH 0: $FWXDOPHQWH OD FDSDFL GDG GH FRJHQHUDFLyQ GH HQHUJtD HOpFWULFD GH ORV LQJHQLRV D]XFDUHURV TXH RSHUDQ HQ HO WHUULWRULR QD FLRQDO SULQFLSDOPHQWH HQ ORV GHSDUWDPHQWRV GH 9DOOH GHO &DXFD \ &DXFD OOHJy D 0: FRQ YHQWDV GH 0: D WUDYpV GH OD UHG GH LQWHUFRQH[LyQ HOpFWULFD QD FLRQDO 6HJ~Q HO SUHVLGHQWH GH $VRFDxD /XLV )HUQDQGR /RQGRxR &DSXUUR ORV DYDQ FHV GH HVWH SURJUDPD VRQ UHOHYDQWHV ³3DUD HO VH HVWLPD TXH OD FDSDFLGDG GH FRJHQHUDFLyQ VHUi GH 0: \ GH ORV FXDOHV VH FRQVLGHUD TXH SRGUtDQ YHQ GHUVH 0:´ GLMR HO OtGHU JUHPLDO $JUHJy TXH ³ORV LQGLFD GRUHV GH FUHFLPLHQWR HQ SURGXFFLyQ \ YHQWDV GH D]~ FDU HWDQRO \ HQHUJtD HOpFWUL FD SRU SDUWH GHO VHFWRU D]X FDUHUR FRORPELDQR GHPXHV WUD TXH KD\ XQ DYDQFH LP SRUWDQWH HQ VX GHVDUUROOR HFRQyPLFR TXH GHEH FRQWL QXDU GH OD PDQR GHO LPSXO VR VRFLDO \ GHO FXLGDGR GHO PHGLR DPELHQWH´ 3DUD HVWH DxR HO VHFWRU SUR\HFWD DXPHQWDU OD FDSD FLGDG GH FRJQHUDFLyQ D 0: GH ORV FXDOHV VH FRQVX PLUiQ LQWHUQDPHQWH 0: \ TXHGDUiQ GLVSRQLEOHV

SDUD YHQGHU HQ HO PHUFDGR 0: &- 130$&40 6HJ~Q H[SOLFy -RKDQ 0DUWtQH] GLUHFWRU HFRQy PLFR GH $VRFDxD HO SURFH VR GH FRJHQHUDFLyQ GH HQHUJtD HOpFWULFD KDFH SDU WH GHO SURFHVR SURGXFWLYR ELHQ VHD GH D]~FDU R GH HWDQRO /RV LQJHQLRV GHVGH VXV LQLFLRV KDQ XWLOL]DGR HO EDJD]R GH OD FDxD FRPR FRPEXVWLEOH SDUD DOLPHQ WDU VXV FDOGHUDV \ XWLOL]DU HO YDSRU FRPR HQHUJtD SDUD HO IXQFLRQDPLHQWR GH VXV SURFHVRV /D FRJHQHUDFLyQ HQWRQFHV XWLOL]D OD HQHUJtD HQ IRUPD GH FDORU SURGXFL GD SRU HO EDJD]R SDUD JH QHUDU YDSRU \ OXHJR PH GLDQWH HO XVR GH WXUERJH QHUDGRUHV OD HQHUJtD HOpF WULFD (O YDSRU GH HVFDSH GHO WXUERJHQHUDGRU YD DO SURFHVR SURGXFWLYR PLHQ WUDV TXH OD HOHFWULFLGDG HV PD\RULWDULDPHQWH XWLOL]D GD SDUD VX FRQVXPR SURSLR \ XQD SRUFLyQ VH YHQGH D OD UHG QDFLRQDO 3DUWH GHO EDJD]R WDP ELpQ VH XWLOL]D HQ OD LQGXV WULD SDSHOHUD FRPR IXHQWH GH ILEUD OR FXDO HYLWD OD WDOD GH DUEROHV ³(O SRU FLHQWR GH ODV PLOORQHV GH WRQHODGDV GH EDJD]R SUR GXFLGDV DO DxR SRU ORV LQ JHQLRV HV XWLOL]DGR FRPR FRPEXVWLEOH HQ ODV FDOGH UDV GH ORV PLVPRV \ HO UHV WDQWH SRU FLHQWR VH FRQ YLHUWH HQ PDWHULD SULPD SDUD OD SURGXFFLyQ GH SD SHO´ GLMR 0DUWtQH] (O GLUHFWLYR DJUHJy TXH FXDQGR VH UHDOLFH OD H[SDQ VLyQ GH OD SURGXFFLyQ GH DO FRKRO FDUEXUDQWH TXH VH SUR\HFWD HQ HO SDtV FX\DV LQYHUVLRQHV DVFLHQGHQ D ORV 86 PLOORQHV HO VHFWRU D]XFDUHUR SRGUi FRQWDU FRQ PD\RU FDQWLGDG GHO LQVXPR SDUD FUHFHU HQ FRJHQHUD FLyQ ³/DV ]RQDV GH H[SDQ VLyQ SRWHQFLDO WLHQHQ XQ iUHD VXSHULRU DO PLOOyQ GH KHFWiUHDV OR TXH VLJQLILFD TXH VH SRGUtD LQFUHPHQWDU OD FRJHQHUDFLyQ DO PHQRV HQ YHFHV UHVSHFWR GH OD DFWXDO´ DJUHJy (Q HVH RUGHQ GH LGHDV HO DSURYHFKDPLHQWR GH HVWD ELRPDVD FRPR FRPEXVWLEOH SXHGH SRQHU DO SDtV D OD

YDQJXDUGLD GH OD XWLOL]DFLyQ GH HQHUJtDV UHQRYDEOHV 6HJ~Q HO 3ODQ (QHUJpWL FR 1DFLRQDO OLGHUDGR SRU OD 8QLGDG GH 3ODQHDFLyQ 0L QHUR (QHUJpWLFD 830( HO SRWHQFLDO GH FRJHQHUDFLyQ HQ &RORPELD SRGUtD DX PHQWDU HQ 0: DGLFLR QDOHV SURYHQLHQWHV GH SUR FHVRV GH FRJHQHUDFLyQ HQ SURFHVRV GH SURGXFFLyQ GH ORV VHFWRUHV DOLPHQWRV EH ELGDV \ WDEDFR SDSHO \ WH[ WLO HQWUH RWURV 3RU RWUR ODGR HO 3URJUD PD GH ODV 1DFLRQHV 8QLGDV SDUD HO 'HVDUUROOR $VRFD xD HO 0LQLVWHULR GH 0HGLR $PELHQWH \ OD 8QLGDG GH 3ODQHDFLyQ 0LQHUR (QHUJp WLFD HQFRQWUy TXH HQ FXD WUR LQJHQLRV SLORWR UHVSRQ VDEOHV GH FHUFD GHO GH OD SURGXFFLyQ QDFLRQDO GH D]~FDU (Q HVH VHQWLGR HV SRVLEOH DXPHQWDU OD FDSDFL GDG GH JHQHUDFLyQ HQWUH 0: \ 0: SDUD HO FRQVXPR SURSLR \ UHDOL]DU YHQWDV D OD UHG GH HQHUJtD HOpFWULFD HQWUH 0: \ 0:

(VWD VLWXDFLyQ TXH VH YLYH HQ &RORPELD QR HV DMH QD D OD WHQGHQFLD PXQGLDO GH XWLOL]DU FDGD YH] PiV UH FXUVRV UHQRYDEOHV /D WUDV FHQGHQFLD GH OD FRJHQHUD FLyQ GH HQHUJtD HQ HO PXQGR \ ORV SUR\HFWRV SDUD OOHYDUOD D FDER KD H[SHULPHQWDGR XQ LPSRUWDQWH GHVDUUROOR \ GHQWUR GH ODV FDXVDV GH HVWH FDPELR VH SXHGHQ FRQVLGH UDU HO DO]D HQ ORV SUHFLRV GH

ORV FRPEXVWLEOHV VX PDUFD GD UHGXFFLyQ HO DYDQFH GH OD WHFQRORJtD HQ ODV HQHUJtDV UHQRYDEOHV \ ODV SROtWLFDV GH UHGXFFLyQ GH HPLVLRQHV GH *(, TXH HVWiQ SODVPDGDV HQ ODV PHWDV GH ORV GLIHUHQ WHV SDtVHV %UDVLO SRU HMHPSOR SD VDUi GH GH WHQHU XQD FDSD FLGDG LQVWDODGD GH *: HQ D PiV GH *: HQ


"(3¶$0-" 13*.&3" 26*/$&/" 4&15*&.#3& %&

DPHFOFSBDJØO

1MBOUBS EF $PMPNCJB SFDJCF DFSUJGJDBDJØO (MPCBM(BQ

3ODQWDU GH &RORPELD XQR GH ORV SULQFLSDOHV SUR GXFWRUHV GH SDSD GHO SDtV VH KD FRQYHUWLGR HQ OD SUL PHUD HPSUHVD GHO VHFWRU TXH REWLHQH XQD FHUWLILFD FLyQ *REODU *DS HQ OD SUR GXFFLyQ GH VHPLOOD (Q XQ FRQWH[WR GH QXHYRV DFXHU GRV LQWHUQDFLRQDOHV HVWH SURGXFWR LQGLVSHQVDEOH HQ OD FDQDVWD WLHQGH D IRUWDOH FHU VX SURGXFFLyQ /D HPSUHVD \D HVWDED FHUWLILFDGD SRU HO ,FD SHUR HQ &RORPELD QR H[LVWtD XQ SURGXFWRU GH VHPLOOD GH SDSD TXH FXPSOLHUD FRQ ORV UHTXLVLWRV H[LJLGRV SRU XQ SURWRFROR LQWHUQDFLRQDO GH %XHQDV 3UiFWLFDV DJUtFRODV 6HJ~Q OD (QFXHVWD 1D FLRQDO $JURSHFXDULD HQ &RORPELD FHUFD GH IDPLOLDV WUDEDMDQ HQ OD SURGXFFLyQ GH SDSD DOLPHQWR EiVLFR GH OD FD QDVWD IDPLOLDU FRORPELDQD &DGD KHFWiUHD GH FXOWLYR VLJQLILFD MRUQDOHV DQXD OHV OR TXH FRQVWLWX\H XQD LPSRUWDQWH IXHQWH GH HP SOHR HQ ORV GHSDUWDPHQWRV GH &XQGLQDPDUFD %R\DFi 1DULxR \ $QWLRTXLD 3RU RWUR ODGR MXQWR FRQ ODV RSRUWXQLGDGHV TXH WUD &M TFDUPS QSPZFDUB JOHFOJPT FO FM HQ ORV WUDWDGRV GH OLEUH FR BVNFOUBS MB 7BMMF EFM $BVDB FTUÃO PHUFLR \ OD OOHJDGD GH HP DBQBDJEBE B FO FM OFHPDJP EF MB .8 FTUF BÒP SUHVDV \ FRQVXPLGRUHV DPHFOFSBDJÓO FDGD YH] PiV H[LJHQWHV OD WHFQLILFDFLyQ GHO VHFWRU DJUtFROD FRORPELDQR HV PiV TXH XQD QHFHVLGDG XQ UHWR SDUD HVSHFLDOL]DU OD SURGXF FLyQ GH DOLPHQWRV \ ORJUDU 4PO NÞMUJQMFT MBT WFOUBKBT EF MB DPHFOFSBDJØO EF FOFSHÓB FMÏD DVt PD\RU FRPSHWLWLYLGDG USJDB B QBSUJS EF MB RVFNB EFM CBHB[P EF DB×B EF B[ÞDBS &RQ HVWH FRQWH[WR GHV TPCSF UPEP DVBOEP TF USBUB EFM DVJEBEP EFM NFEJP BNCJFOUF GH KDFH PiV GH DxRV %F BDVFSEP DPO "TPDB×B BM TFS FM CBHB[P VO DPNCVTUJCMF EF $OHMDQGUR (VWpYH] 2FKRD CJPNBTB OP TF VUJMJ[BO DPNCVTUJCMFT GØTJMFT QBSB MB DPHFOFSB DJØO MP DVBM SFEVDF MB FNJTJØO EF HBTFT FGFDUP JOWFSOBEFSP JHUHQWH GH 3ODQWDU GH &R BZVEBOEP BTÓ B MB NJUJHBDJØO EFM DBMFOUBNJFOUP HMPCBM ORPELD \ XQR GH ORV OtGHUHV "EJDJPOBMNFOUF HSBDJBT B RVF MB CJPNBTB TF QVFEF TFNCSBS GHO VHFWRU GH OD SURGXFFLyQ Z DPTFDIBS MBT WFDFT RVF TFBO OFDFTBSJBT QFSNJUF BTÓ UFOFS GH VHPLOOD \ SDSD SDUD DPNCVTUJCMF EJTQPOJCMF FO FM MBSHP QMB[P &O FM DBTP EFM 7BMMF FYJTUFO GJODBT RVF IBO TFNCSBEP DB×B QPS NÈT EF B×PT Z FRQVXPR GHFLGH DSRVWDUOH SFHJTUSBO ØQUJNPT SFOEJNJFOUPT D OD LQQRYDFLyQ \ OD VRVWH

7&/5"+"4 %&- 130$&40

1MBOUBS $PMPNCJB EFTEF IBDF VOPT BÒPT WJFOF BQPSUBOEP B MB JOEVTUSJB QBQFSB TFNJMMBT EF BMUB DBMJEBE QLELOLGDG DJUtFROD HP SUHQGHU XQ SUR\HFWR GH FHUWLILFDFLyQ SDUD OD VHPL OOD GH SDSD DFRPSDxDGR SRU ORV GHSDUWDPHQWRV GH YHQWDV \ 0HUFDGHR GH %D \HU &URS6FLHQFH %HDWUL] $UULHWD UHVSRQ VDEOH GHO SURJUDPD GH &XV WRGLD HQ %D\HU &URS6FLHQFH \ TXLHQ OLGHUy OD DVHVRUtD HQ 3ODQWDU GH &RORPELD DVH JXUD TXH XQR GH ORV JUDQ GHV EHQHILFLRV GH HVWH WLSR GH FHUWLILFDFLRQHV HV TXH SHUPLWH XQ WHQHU XQD KH UUDPLHQWD GH JHVWLyQ HQ HO SURFHVR SURGXFWLYR TXH SHUPLWH UHDOL]DU DQiOLVLV SURIXQGRV \ VHQFLOORV SDUD PHMRUDU OD HILFLHQFLD HQ OD SURGXFFLyQ RSWLPL]DU SUR FHVRV \ SRU VXSXHVWR PHMR UDU OD UHQWDELOLGDG &RPR WRGRV ORV SURWRFR ORV GH %XHQDV 3UiFWLFDV $JUtFRODV EXVFDQ TXH OD SURGXFFLyQ DJUtFROD VH FRQ FHQWUH HQ WUHV SLODUHV EiVL FRV HO UHVSHWR SRU ODV SHU VRQDV TXH WUDEDMDQ HQ ORV FXOWLYRV \ HVR VLJQLILFD WR PDU PHGLGDV TXH JDUDQWL FHQ VX FDOLGDG GH YLGD HQ VHJXQGR OXJDU HO FXLGDGR GHO PHGLR DPELHQWH SDUD

JDUDQWL]DU TXH HO LPSDFWR GH OD SURGXFFLyQ DJUtFROD VHD HO PtQLPR \ WHUFHUR OD VRVWHQLELOLGDG ILQDQFLHUD 8QD GH ODV HVWUDWHJLDV SURSXHVWDV SRU HVWRV SURWR FRORV HV HO 0DQHMR ,QWHJUD GR GH 3ODJDV 0,3 HVR VLJ QLILFD TXH HO DVHVRU WpFQLFR DQWHV GH UHFRPHQGDU OD DSOLFDFLyQ GH XQ SODJXLFLGD SRU FDOHQGDULR GHEH KDFHU XQD LQVSHFFLyQ HQ HO WHUUH QR SDUD PRQLWRUHDU TXp SUREOHPDV VH SUHVHQWDQ \ WRPDU OD GHFLVLyQ VREUH FXiO HV OD PHMRU IRUPD GH FRQWURODU HO SUREOHPD VL XWLOL]D XQ SURGXFWR ELROyJL FR XQD WUDPSD XQ IHUWLOL ]DQWH R VL GHILQLWLYDPHQWH GHEH HPSOHDU XQD KHUUD PLHQWD TXtPLFD -RVp 9LOODU LQJHQLHUR DJUyQRPR GH 3ODQWDU DVH JXUD TXH ³HVWH IXH XQ SUR FHVR GH PiV GH WUHV DxRV TXH QRV DOHJUD PXFKR´ $JUHJy TXH OR PiV GLItFLO GH LPSOHPHQWDU FRQ *OR EDO*DS IXH HO FDPELR FXOWX UDO SXHV HQ WHPSRUDGD GH FRVHFKD VH OOHJDQ D FRQWDU KDVWD SHUVRQDV HQ FDPSR HQ GLIHUHQWHV IXHQ WHV GH WUDEDMR


*/%6453*" 13*.&3" 26*/$&/" 4&15*&.#3& %&

)VFWPT FO QPMWP VOB QSPEVDDJØO DBEB WF[ NÈT SFOUBCMF

&M QSPDFTP QBSB DPOWFSUJS MPT IVFWPT FO QPMWP SFRVJFSF EF VOB QBTUFVSJ[BDJÓO Z EFTIJESBUBDJÓO EF MB DÃTDBSB

/R TXH FRPHQ]y KDFH PX\ SRFRV DxRV FRPR XQ H[SHULPHQWR VH KD FRQYHU WLGR HQ WRGD XQD LQGXVWULD /RV KXHYRV HQ SROYR HV XQ SURFHVR TXH YLHQH VLHQGR LPSOHPHQWDGR SRU YDULDV FRPSDxtDV GHO VHFWRU DYtFR OD GHO SDtV SULQFLSDOPHQWH HQ 0HGHOOLQ ,EDJXp %RJR Wi \ %XFDUDPDQJD 'LHJR )HUQDQGR 2VSLQD JHUHQWH GH 2YRSURGXFWRV GHO 3DFtILFR H[SOLFy TXH HVWH SURFHVR QR QHFHVDULD PHQWH HV PHQRV FRVWRVR \D TXH HO KXHYR HQ FiVFDUD HV OD PDWHULD SULPD D OD TXH VH OH DSOLFD GRV SURFHVRV DGLFLRQDOHV SDVWHXUL]DFLyQ \ GHVKLGUDWDFLyQ OR FXDO KDFH TXH UHTXLHUD GH XQD PD\RU LQYHUVLyQ

³(O KXHYR VH GHVKLGUDWD \ SXHGH WHQHU KDVWD PH VHV GH YLGD ~WLO \ HQ DOJXQRV FDVRV VH KD SURGXFLGR HO KXHYR HQ SROYR FXDQGR pVWH KD HVWDGR D XQ PHQRU SUH FLR TXH HQ HO PRPHQWR GH OD YHQWD´ DxDGLy $O KDFHU XQ FRVWR EHQH ILFLR GH ORV GRV SURGXFWRV HV GHFLU GHO KXHYR HQ FiVFD UD YHUVXV HO KXHYR HQ SROYR FRQ HVWH ~OWLPR KD\ XQRV DKRUURV PX\ LPSRUWDQ WHV \D TXH HO FOLHQWH QR FDO FXOD HO SURFHVR GH TXHEUD GR OLPSLH]D UHIULJHUDFLyQ HVSDFLR HQWUH RWURV < DKt HV FXDQGR PHMRU HV HO FRVWR GHO KXHYR HQ SROYR DJUHJy HVWH HPSUHVDULR FRQ DxRV GH H[SHULHQFLD HQ HO QHJR FLR

2YRSURGXFWRV DFWXDO PHQWH HVWi PDQHMDQGR XQD SURGXFFLyQ GH KXHYR HQ SROYR FHUFDQR D ODV WR QHODGDV PHQVXDOHV HVWR VRQ PiV y PHQRV GH KXHYRV HQ FiVFDUD ³(VWD FRPSDxtD YLHQH GH XQ JUXSR DYtFROD LPSRUWDQWH GH OD UHJLyQ TXH VH KD JDQDGR XQD H[ SHULHQFLD LPSRUWDQWH VREUH HO WHPD GHVGH HO DxR < KHPRV LQYHUWLGR FHUFD GH PLOORQHV HQ HVWD HWDSD´ H[SOLFy 2VSLQD $YLQDO HV RWUD GH ODV FRPSDxtDV GHO SDtV TXH KD LQFXUVLRQDGR HQ HVWD LQGXV WULD \ OOHYD WUHV DxRV HQ OD SURGXFFLyQ GH KXHYR HQ SROYR \ VHLV HQ OD SURGXF FLyQ GH KXHYR OtTXLGR

"-(6/"4 7&/5"+"4 %&- /&(0$*0 "MHVOBT EF MBT WFOUBKBT EF MB QSPEVDDJØO EF MPT IVFWPT FO QPMWP FT RVF TPO QSPEVDUPT RVF EVSBO FO BMNBDFOB NJFOUP FO DPOEJDJPOFT BEF DVBEBT IBTUB EPT B×PT MP RVF QFSNJUF BTFHVSBS JOWFO UBSJPT QBSB MPT DPOTVNJEPSFT Z BEFNÈT MMFHBS B MVHBSFT EPOEF QPS MPT UJFNQPT FT JNQPTJCMF MMFHBS 4PO GÈDJM EF EPTJGJDBS MBT DPNQB×ÓBT SFRVJFSFO EPTJGJDBS EF VOB GPSNB FTUÈOEBS FO TVT QSPDF TPT DPO NFEJEBT NFEJCMFT 1& FO WPMVNFO Z P FO QFTP /P IBZ QFSEJEBT QPS EFTQFSEJDJP $PO FM IVFWP FO QPMWP IBZ BQMJDBDJPOFT FTQF DJGJDBT EF BDVFSEP B MBT DBO UJEBEFT Z DBSBDUFSÓTUJDBT




/&(0$*04 13*.&3" 26*/$&/" 4&15*&.#3& %&

&M OFHPDJP EF MB SFGPSFTUBDJØO HBOB UFSSFOP FO $PMPNCJB /D DFWLYLGDG GH OD UHIR UHVWDFLyQ FRPR QHJRFLR KD YHQLGR JDQDQGR WHUUHQR HQ HO iPELWR QDFLRQDO VREUH WRGR FRQ OD LQFXUVLyQ GH ODV LQGXVWULDV SURGXFWRUDV GH SDSHO 6HJ~Q HO 0LQLVWHULR GH $JULFXOWXUD \ 'HVDUUROOR 5XUDO HO SDtV FXHQWD FRQ PLOORQHV GH KHFWiUHDV DSWDV SDUD UHIRUHVWDFLyQ 6LQ HP EDUJR DFWXDOPHQWH VyOR KHFWiUHDV GHO SRWHQFLDO IRUHVWDO HVWi FRQ SODQWDFLRQHV IRUHVWDOHV 'H DOOt TXH HVWD DFWLYLGDG VH FRQYLHUWD HQ XQD DWUDFWLYD DOWHUQDWLYD HFRQyPLFD TXH MDORQD GH PDQHUD LPSRU WDQWH HO HPSOHR HQ HO SDtV (PSUHVDV ORFDOHV FRPR 6PXUILW .DSSD &DUWyQ GH &RORPELD 3L]DQR &DUYD MDO 3XOSD \ 3DSHO HQWUH RWUDV KDQ YHQLGR FUHFLHQ GR HO QHJRFLR GH PDQHUD VLJQLILFDWLYD (Q HO FDVR GH 6PXUILW ODV LQYHUVLRQHV WRWDOHV HO DxR SDVDGR GHVWLQDGDV D OD RSHUDFLyQ IRUHVWDO IXHURQ GH PLOORQHV GH SH VRV XQ LQFUHPHQWR GHO VREUH ODV LQYHUVLRQHV WRWD OHV GHO DxR R $O GtD GH KR\ HVWD HPSUHVD FXHQWD FRQ XQ SDWULPRQLR IRUHV WDO GH 'H HOODV KHFWiUHDV HVWiQ HV WDEOHFLGDV HQ HXFDOLSWR \ HQ SLQR SDUD XQ WRWDO GH KHFWiUHDV GH VXSHUILFLH IRUHVWDO PD GHUDEOH 3L]DQR HQWUH WDQWR YLH QH GHVDUUROODQGR DOLDQ]DV FRQ GXHxRV GH WLHUUDV SDUD FUHFHU HO Q~PHUR GH KHFWi UHDV FXOWLYDGDV 3RU RWUR ODGR VH KD HYL GHQFLDGR XQ FUHFLHQWH LQ WHUpV GH DOJXQDV PXOWLQD FLRQDOHV PDGHUHUDV H LQ YHUVLRQLVWDV LQWHUQDFLRQD OHV HVSHFLDOPHQWH GH (XUR SD (VWDGRV 8QLGRV \ GH &KLOH SDUD TXLHQHV HO QH JRFLR IRUHVWDO HQ &RORPELD

6O UPUBM EF IFDUÃSFBT EF ÃSCPMFT TFNCSBEBT UJFOF BDUVBMNFOUF FM QBÎT MP RVF QSFTFOUB FM EFM QPUFODJBM GPSFTUBM EF MB /BDJÓO UHSUHVHQWD XQD JUDQ RSRU WXQLGDG 7RGR HVWH DSHWLWR FR PHUFLDO HQWRUQR D HVWH QH JRFLR SURSLFLy TXH OD PHWD GHO *RELHUQR 1DFLRQDO DO HV UHIRUHVWDU KHFWiUHDV OR UHSUHVHQWDUtD XQ FUHFLPLHQWR GH PiV GHO FRQ UHVSHFWR DO iUHD FXOWLYDGD DFWXDOPHQWH /D JUDQ DSXHVWD HV DOFDQ]DU KHFWiUHDV SODQ WDGDV LQFUHPHQWR GHO DO %&4"330--0 103 ;0/"4 (Q HO SDtV H[LVWHQ WUHV ]RQDV TXH VH GHVWDFDQ SRU VHU ODV PiV DSURSLDGDV SDUD GHVDUUROODU FXOWLYRV IRUHVWD OHV &RVWD $WOiQWLFD \ HO QRUGHVWH GH $QWLRTXLD FRQ SRWHQFLDO GH KHF WiUHDV HO (MH &DIHWHUR \ HO

VXURFFLGHQWH 9DOOH \ &DX FD FRQ DOUHGHGRU GH PLOORQHV GH KHFWiUHDV DS WDV $GHPiV H[LVWHQ KHFWiUHDV DGLFLRQD OHV HQ ORV /ODQRV 2ULHQWD OHV 9LFKDGD \ &DTXHWi /D FRPSHWLWLYLGDG HQ HO FXOWLYR GH iUEROHV VH GHEH HQWUH RWUDV FRVDV D OD SUR GXFWLYLGDG \ HGDGHV GH FR VHFKD WtSLFDV GH PiV GH HVSHFLHV IRUHVWDOHV GH UiSL GR FUHFLPLHQWR FRQ DOWR SRWHQFLDO GH LQFUHPHQWDU VXV UHQGLPLHQWRV FRQ PD QHMR LQWHQVLYR \ PHMRUD PLHQWR JHQpWLFR D WUDYpV GH ORV GHVDUUROORV WHFQROyJL FRV (QWUH ODV HVSHFLHV TXH PiV VH GHVDUUROODQ HQ HV WDV UHJLRQHV HVWiQ HO (XFD OLSWR DFDFLD FHLED WHFD DEDUFR 1RJDO &DIHWHUR HQ WUH RWUDV

#"-"/;" $0.&3$*"- %& ."%&3" &4 %&'*$*5"3*"

&- %"50

%F BDVFSEP DPO FM .JOJTUFSJP EF "HSJDVMUVSB Z 'FEFNBEFSBT MB CBMBO[B DPNFSDJBM DPMPNCJBOB FO NBEFSB DBSCØO WFHFUBM Z NBOVGBDUVSBT EF NBEFSB FT EFGJDJUBSJB Z QSJODJQBMNFOUF TBUJTGFDIB QPS JNQPSUBDJPOFT "M FM EÏGJDJU GVF EF 64 NJMMPOFT EF EØMBSFT Z BM QSJNFS TFNFTUSF EF FM EÏGJDJU FSB EF 64 NJMMPOFT &TUB DBSFODJB EF QSPEVDDJØO TF DPOTUJUVZF FO VOB HSBO PQPSUVOJEBE EF NFSDBEP QBSB RVF OVFWPT QSPZFDUPT GPSFTUBMFT TVTUJUVZBO MB JNQPSUBDJØO EF QSPEVDUPT EFSJWBEPT EF MB NBEFSB FO BEJDJØO BM UBNB×P EF MB QPCMBDJØO B NBZPS EFTQVÏT EF #SBTJM Z .ÏYJDP DPO NJMMPOFT EF IBCJUBOUFT Z BM EJOBNJTNP EFM DPNFSDJP JOUFSOBDJPOBM

.*--0/&4 %& )&$5«3&"4 40/ "15"4 1"3" -" 3&'03&45"$*¶/ &/ &- 1"±4 4&(¼/ 6/ &456%*0 %&- .*/*45&3*0 %& "(3*$6-563"

i-" "$5*7*%"% '03&45"- %& 4.63'*5 (&/&3" &.1-&04 3&13&4&/5"%04 &/ 3&130%6$$*¶/ %& 1-¦/56-"4 &/ 7*7&30 */7&45*("$*¶/ 4*&.#3" 7±"4 : $04&$)"u 36%0-' 3"). 7JDFQSFTJEFOUF EF MB %JWJTJØO 'PSFTUBM EF 4NVSGJU ,BQQB $BSUØO EF $PMPNCJB

i$0-0.#*" 5*&/& 6/ (3"/ 105&/$*"- &/ &- /&(0$*0 %& -" 3&'03&45"$*¶/ "$56"-.&/5& &- 1"±4 $6&/5" $0/ "-3&%&%03 %& .*--0/&4 %& )&$5¦3&"4 4*/ 3&453*$$*0/&4u "-&+"/%3" 041*5*" 1SFTJEFOUF EF 'FEFNBEFSBT

5FMÏGPOPT $BSSFSB /P # #PHPUÈ $PMPNCJB IJESPBHSJDPMBT!IJESPBHSJDPMBTMUEB DPN XXX IJESPBHSJDPMBTMUEB DPN


("/"%&3¶" 13*.&3" 26*/$&/" 4&15*&.#3& %&

4F NVFWF FM NFSDBEP EF DBSOF CPWJOB &- %"50

103 $*&/50 $3&$&3«

&- )"50 #07*/0 &/53& : &/ &- 1"±4 4&(¼/ -"4 &45*."$*0/&4 %& -" '&%&3"$*¶/ %& ("/"%0

1SPFYQPSU TF DPOWJFSUF FO BMJBEP DPNFSDJBM QBSB FM TFDUPS CPWJOP DPMPNCJBOP

¡LO COMPROBÉ! Combo Atomiko si extermina moscas, garrapatas, piojos y la mosca del nuche de mi ganado.

Cra 53 N0. 134 D-56 Tel: (571) 626 63 71 Telefax: 627 10 04 Bogotá, D.C.,Colombia www. laboratoriospharmek.com LÍNEA GRATIS 01 8000 112 809

6HJ~Q XQ HVWXGLR GH OD )HGHUDFLyQ &RORPELDQD GH *DQDGHURV )HGHJiQ HQ ORV ~OWLPRV DxRV HO PHUFD GR PXQGLDO GH OD FDUQH KD H[SHULPHQWDGR SURIXQGRV FDPELRV HQ ODV UHODFLRQHV GH RIHUWD \ GHPDQGD TXH KDFHQ TXH KR\ HQ GtD HO PXQGR QHFHVLWH FDGD YH] XQ PD\RU YROXPHQ GH FDU QH SDUD DOLPHQWDU D OD SR EODFLyQ HVSHFLDOPHQWH DTXHOOD XELFDGD HQ SDtVHV GH UHFLHQWH GHVDUUROOR \ HFRQRPtDV HPHUJHQWHV FRPR $VLD 5XVLD 2ULHQWH 0HGLR \ 1RUWH GH ÈIULFD (O PHUFDGR PXQGLDO GH OD FDUQH GH ERYLQR ODV UH JLRQHV GHO 1DIWD \ HO 0HU FRVXU VH KDQ FRQVROLGDGR FRPR ORV SULQFLSDOHV SUR GXFWRUHV GH DFXHUGR D FL IUDV GH (Q 6XUDPpUL FD KD GHVFHQGLGR HO OD SURGXFFLyQ LJXDO TXH HQ RWURV SDtVHV GHO FRQWLQHQWH 3DtVHV FRPR 5XVLD ,V UDHO ,UiQ &KLQD (JLSWR 8QLyQ (XURSHD (VWDGRV 8QLGRV \ &RUHD IXHURQ VH OHFFLRQDGRV HQ OD PDWUL] GH PHUFDGRV GH LQWHUpV SDUD OD H[SRUWDFLyQ GH FDUQH ERYL QD FRORPELDQD $XJXVWR %HOWUiQ 6HJUH UD VHFUHWDULR WpFQLFR GHO IRQGR GH HVWDELOL]DFLyQ GH SUHFLRV ± )(3 SDUD HO IR PHQWR GH ODV H[SRUWDFLRQHV GH FDUQH OHFKH \ VXV GHUL YDGRV \ JHUHQWH GHO SURJUD PD GH WUDQVIRUPDFLyQ SUR GXFWLYD VHFWRU FDUQH ERYL QD GH )HGHJiQ H[SUHVy TXH &RORPELD ³WLHQH HO FXDUWR KDWR PiV JUDQGH GH /DWLQRDPpULFD \ FXHQWD FRQ XQ SRWHQFLDO GH FUHFLPLHQWR GHELGR D VXV FRQGLFLRQHV JHRJUiILFDV FRPR SRU HMHPSOR DFFHVR D DJXD GLV SRQLELOLGDG GH SDVWRV \ DOL PHQWDFLyQ HQHUJtD VRODU UHODWLYDPHQWH HVWDEOH DFFH VR D DPEDV FRVWDV \ XQD SR VLFLyQ JHRJUiILFD SULYLOHJLD GD SDUD HO FRPHUFLR LQWHU QDFLRQDO´

$3&$*.*&/50 %& $"3/& &/ &- 1"¶4 $SFDJØ FM PSJFOUF DPMPNCJBOP EPOEF FM (VBWJBSF UVWP VO JODSFNFOUP EFM "SBVDB EFM 1VUVNBZP EFM 7JDIBEB EFM Z /PSUF EF 4BOUBOEFS FO IBUPT HBOBEFSPT -PT NFSDB EPT QPUFODJBMFT QBSB MB DBSOF CPWJOB DPMPNCJBOB TPO FM NFSDBEP JOUFSOP RVF BDBQBSB FM EF MB QSPEVDDJØO OBDJPOBM &M SFTUBOUF Z MPT FYDFEFOUFT RVF TF QVFEBO EBS TF JSÓB QBSB MPT NFSDBEPT RVF IBO TJEP JEFOUJGJDBEPT FO VO FTUVEJP DPOKVOUP FOUSF 'FEFHÈO o 1SPFYQPSU EVSBOUF EPOEF MPT NFSDBEPT QPUFODJBMFT B DPSUP QMB[P TPO 3VTJB &HJQUP *TSBFM )POH ,POH Z &M $BSJCF MPT EF NFEJB OP QMB[P 6OJØO &VSPQFB $IJMF $BOBEÈ Z .ÏYJDP Z EF MBSHP QMB[P &NJSBUPT «SBCFT 6OJEPT &"6 F *SÈO %HOWUiQ DVHJXUy ³TXH SDUD DSURYHFKDU HVH SRWHQ FLDO GH FUHFLPLHQWR QHFHVL WDPRV DEULU QXHYRV FDQDOHV GH FRPHUFLDOL]DFLyQ \ IRUWD OHFHU \ IRUPDOL]DU ORV H[LV WHQWHV /D FRPHUFLDOL]DFLyQ GHEH DERUGDUVH GHVGH HO UHQJOyQ QDFLRQDO IRUPDOL ]DQGR ORV PHGLRV GH SUR GXFFLyQ SURFHVDPLHQWR \ GLVWULEXFLyQ GH FDUQH HQ ORV HVWDEOHFLPLHQWRV H[SHQGH GRUHV GHVGH OD SHTXHxD IDPD GH EDUULR SDVDQGR SRU HO VXSHUPHUFDGR ORFDO \ OOHJDQGR D ORV DOPDFHQHV GH FDGHQD \ GH JUDQGHV VXSHU ILFLHV´ 'RQGH ODV H[SRUWDFLR QHV FDQDOL]DUiQ HVWH VLJQLIL

FDWLYR DXPHQWR GH SURGXF FLyQ HQ ORV PHUFDGRV HVWD EOHFLHQGR FRQWDFWRV FRQ ODV JUDQGHV FDGHQDV GH GLVWUL EXFLyQ HQ YDULDV UHJLRQHV GHO PXQGR DOWDPHQWH GH PDQGDQWHV \ HQIDWL]iQGRVH HQ OD SURPRFLyQ GH OD FDOL GDG QDWXUDO GH OD FDUQH FR ORPELDQD SRU PHGLR GH VX PDUFD ³&RORPELDQ 1DWXUDO %HHI´ <HVLG -LPpQH] VHFUHWD ULR WpFQLFR GHO FRQVHMR QD FLRQDO GH OD FDGHQD FiUQLFD ERYLQD FRPHQWy TXH ³XQ SURJUDPD SDUD GLIHUHQWHV VHFWRUHV FRORPELDQRV TXH SXHGHQ VHU FRPSHWLWLYRV D QLYHO LQWHUQDFLRQDO VH GHQR PLQD SURJUDPD GH WUDQV IRUPDFLyQ SURGXFWLYD 373 GRQGH ORV VHFWRUHV SULYLOHJLDGRV FRPR SRWHQ FLDOHV GH H[SRUWDFLyQ VH FRQVLGHUD TXH VH WLHQH HO WHUFHU KDWR JDQDGHUR GH $PpULFD ODWLQD \ D OD IHFKD WHQHPRV FHUWLILFDFLyQ GH OD 2UJDQL]DFLyQ ,QWHUQDFLRQDO GH (SL]RRWLD 2,( FRPR SDtV OLEUH GH DIWRVD FRQ YD FXQDFLyQ OR TXH QRV SHUPL WH HQ SULQFLSLR DFFHGHU D YDULRV PHUFDGRV LQWHUQD FLRQDOHV´ -LPpQH] UHFRUGy TXH ³HO VHFWRU FDUQH ERYLQD HQ &R ORPELD VHUi XQR GH ORV UHQ JORQHV TXH VH EHQHILFLDUiQ GH ORV DFXHUGRV FRPHUFLDOHV HVSHFLDOPHQWH SRUTXH WHQH PRV XQDV YHQWDMDV FRPSD UDWLYDV PX\ LPSRUWDQWHV IUHQWH D RWURV SDtVHV SUR GXFWRUHV 1XHVWURV DQLPD OHV VH DOLPHQWDQ GH SDVWX UDV QDWXUDOHV

i&- '3*(03±'*$0 7*+"(6"- 6#*$"%0 &/ #6$"3"."/(" $"%" .&4&4 %&#& 13&4&/5"3 */'03.& ".#*&/5"- 103 130$&404 %& &.*4*¶/ : 7&35*.*&/504 1"3" ("3"/5*;"3 $"-*%"%u -6; )&-&/" .»+*$" 4VCEJSFDUPSB EF FWBMVBDJØO Z DPOUSPM BNCJFOUBM EF MB $ENC

i&4 *.1035"/5& 26& -04 &4-"#0/&4 %& -" $"%&/" %& -" $"3/& '6/$*0/&/ %& ."/&3" "35*$6-"%" : -"4 "$$*0/&4 &45­/ &/$".*/"%"4 " 6/ &45"564 4"/*5"3*0u '"#*«/ &4$0#"3 #"26&30 $PPSEJOBEPS UÏDOJDP CØWJOP 7JSCBD $PMPNCJB


("/"%&3¶" 13*.&3" 26*/$&/" 4&15*&.#3& %&

Para mayor informacion sobre Clostrisan P comuniquese al 2252100 y pregunte por el departamento tecnico de ganaderia.

7BDVOBT NFKPSBSÓBO QSÈDUJDBT CPWJOBT &RQ HO ILQ GH HQFRQWUDU LQIRUPDFLyQ VREUH OD SUHYD OHQFLD GH GLIHUHQWHV HQIHU PHGDGHV TXH SXHGHQ DIHF WDU OD SURGXFFLyQ ERYLQD HQ &RORPELD 3DEOR /RUHQ]R JHUHQWH GH PDUNHWLQJ GH UX PLDQWHV HQ /DWLQRDPpULFD SDUD 9LUEDF HVWi HQ HO SDtV UHDOL]DQGR XQ GLDJQyVWLFR GH ORV GLIHUHQWHV HVFHQDULRV FRQ OD D\XGD GH WpFQLFRV HV SHFLDOLVWDV HQ UHSURGXFFLyQ \ SURIHVLRQDOHV H[SHUWRV SDUD GLVHxDU XQ SURJUDPD GH YDFXQDFLyQ TXH VH DGH FXH D ODV QHFHVLGDGHV GH FDGD XQD GH ODV UHJLRQHV ³+DEUiQ UHJLRQHV FRQ HQIHUPHGDGHV HQGpPLFDV HQ ODV FXDOHV WHQGUHPRV SUHVLyQ GH YDFXQDFLyQ \ RWURV OXJDUHV GRQGH QR VRQ WDQ SUHYDOHQWHV (Q DOJXQRV FDVRV WHQGUHPRV TXH XWLOL

]DU GRVLV DQXDOHV \ HQ RWURV VHPHVWUDOHV R WULPHVWUDOHV FRQ FRPELQDFLRQHV GLIHUHQ WHV \ PDQHMRV GLIHUHQWHV´ /RUHQ]R DGYLUWLy TXH &RORPELD QR VH HVFDSD D OD UHDOLGDG UHJLRQDO OD LQFL GHQFLD GH HQIHUPHGDGHV Yt UDOHV HV VLPLODU HQ %UDVLO 8UXJXD\ $UJHQWLQD 3DUD JXD\ HVWR VLJQLILFD TXH OD UHJLyQ HVWi SDGHFLHQGR HQ IHUPHGDGHV YtUDOHV TXH DIHFWDQ OD UHSURGXFFLyQ ER YLQD ³6RQ GRV YLUXV HO YL UXV GH OD 5LQRWUDTXHLWLV LQ IHFFLRVD ERYLQD ,%5 \ HO GH OD 'LDUUHD YLUDO ERYLQD TXH HQ VXV GRV IRUPDV JH QRWtSLFDV ORJUDQ DIHFWDU GH GLIHUHQWH IRUPDV DO ERYLQR SURGXFLHQGR DGHPiV LQPX QRVXSUHVLyQ´ H[SOLFy ([LVWHQ HQIHUPHGDGHV D ODV TXH VH GHEH SRQHU PiV

1BCMP -PSFO[P HFSFOUF EF .BSLFUJOH 3VNJBOUFT -BUJOPBNÊSJDB 7JSCBD

DWHQFLyQ SRUTXH VH SXHGHQ WUDQVPLWLU KDFLD ORV KXPD QRV ³]RRQRVLV GHQWUR GH ODV FXDOHV GHEHPRV FRQVLGHUDU ODV OHSWRSLURVLV 6RQ EDFWH ULDV HQGpPLFDV TXH VH HQ FXHQWUDQ HQ HO VXHOR HQ HO DJXD \ TXH VH WUDQVPLWHQ SRU OD RULQD GH ORV DQLPDOHV HQWUH HOORV \ KDFLD HO KRP EUH´ ³1XHVWUDV YDFXQDV FRQWHPSODQ GLIHUHQWHV VH URYDUHV GH HVWDV EDFWHULDV FRQWDPRV FRQ XQD YDFXQD TXH FRQWLHQH RFKR OHSWRVSL UDV D GLIHUHQFLD GH WRGDV ODV TXH KD\ HQ HO PHUFDGR +HPRV HYLGHQFLDGR TXH H[LVWHQ YDFXQDV UHSURGXFWL

$0-0.#*" $0/ 105&/$*"- 1"3" &91035"3 " $)*/" %F BDVFSEP DPO -PSFO[P $PMPNCJB FT VO QBÓT RVF UJFOF VOB FYDFMFOUF HFOÏUJDB UBOUP EF HBOBEP EF MFDIF DPNP EF QSPEVD DJØO DÈSOJDB Z TF QFSGJMB DPNP VO QBÓT RVF FO GVUVSP QSØYJNP WB B QPEFS JOHSFTBS B NFSDBEPT DPNP $IJOB Z 5VSRVÓB TJHVJFOEP FM FKFNQMP EF 6SVHVBZ RVF FO MP DPSSJEP EFM B×P IB FOWJBEP USFT CBSDPT QBSB $IJOB MP RVF DPOMMFWB B RVF FM QSFDJP EFM HBOBEP TVCB i&TUBT FYQFSJFODJBT UBNCJÏO FYJHFO NFKPSBS MBT DPOEJDJPOFT TBOJUBSJBT MPT EPT QBÓTFT UJFOFO JODJEFODJB EF MFV DPTJT RVF FT VOB FOGFSNFEBE MJNJUBOUF B MB IPSB EF FOUSBS B MPT NFSDBEPT JOUFSOBDJPOBMFT YDV TXH WLHQHQ DOJXQRV YL UXV HQ VX FRPSRVLFLyQ SHUR HVWRV YLUXV VRQ SDUD SUHYHQLU HQIHUPHGDGHV UHV SLUDWRULDV´ HQIDWL]y \ DJUH Jy TXH ³YHQLPRV D WUDHU

&- %"50

7"$"4 103 "º0

4& */4&.*/"/ &/ $0-0.#*" 4&(¼/ 1"#-0 -03&/;0 (&3&/5& %& ."3,&5*/( %& 7*3#"$

XQD VROXFLyQ D WUDYpV GH OD LQIRUPDFLyQ TXH HVWDPRV UHFLELHQGR GHO FDPSR HV XQD KHUUDPLHQWD TXH YDQ D SRGHU DFFHGHU ORV HVSHFLD OLVWDV HQ UHSURGXFFLyQ

$FTBS Z $BTBOBSF DPO NÈT CSPUFT EF SBCJB CPWJOB

&M QSJNFS BUBRVF FT QPS NVSDJÊMBHP FM DVBM JODSFNFOUB TV BHSFTJÓO FO UFNQPSBEB JOWFSOBM

(O YLUXV GH OD UDELD LQ IHFWD HO VLVWHPD QHUYLRVR FHQWUDO \ SXHGH OOHJDU D FDXVDU OD PXHUWH GH DFXHU GR D LQIRUPH GHO ,QVWLWXWR &RORPELDQR $JUtFROD ,&$ (VWD HV HQIHUPHGDG VH FRQ VLGHUD XQD GH ODV PiV LP SRUWDQWHV GDGR D TXH VH SXHGH WUDQVPLWLU GH ORV DQL PDOHV D ODV SHUVRQDV /D PRGDOLGDG PiV FR P~Q GH OD WUDQVPLVLyQ GHO YLUXV GH OD UDELD HV OD PRU GHGXUD (Q &RORPELD HQ OD PD\RUtD GH FDVRV UHSRUWD

GRV KLVWyULFDPHQWH DO ,&$ ORV PXUFLpODJRV KHPDWyID JRV VRQ ORV WUDQVPLVRUHV 6HJ~Q OD LQIRUPDFLyQ RILFLDOPHQWH UHJLVWUDGD HQ HO VLVWHPD GH YLJLODQFLD HSL GHPLROyJLFD YHWHULQDULD GHO ,&$ ORV IRFRV SRVLWLYRV D OD HQIHUPHGDG VH KDQ XELFDGR HQ ]RQDV DOHGDxDV D TXH EUDGDV GH UtRV SLHGHPRQWH GH FRUGLOOHUDV D VX YH] OD GLVWULEXFLyQ GH HVWRV IRFRV LQGLFD OD SUHVHQFLD GH OD HQ IHUPHGDG HQ OD PD\RUtD GH ORV GHSDUWDPHQWRV GHO SDtV

HO SULQFLSDO HV &HVDU FRQ &DVDQDUH $UDXFD HQWUH RWURV LGHQWLILFD GRV HQWUH \ $ FRQVLGHUDFLyQ GHO ,QV WLWXWR OD YDFXQDFLyQ FRQWUD OD UDELD VLOYHVWUH HV UHVSRQ VDELOLGDG GH JDQDGHURV \ PpGLFRV YHWHULQDULRV HQ HMHUFLFLR SDUWLFXODU UD]yQ SRU OD FXDO GHEHQ HVWDU DOHU WDV \ VHQVLELOL]DUVH VREUH OD LPSRUWDQFLD GH DSOLFDUOD )UHQWH D ORV IRFRV GH SUHVHQFLD GHO YLUXV HO ,&$ KD SXHVWR HQ PDUFKD XQ

SURJUDPD GH FDSDFLWDFLyQ \ VHQVLELOL]DFLyQ FRQ HO REMH WLYR GH RIUHFHU LQVWUXPHQ WRV GH JHVWLyQ SDUWLFLSDWLYD SDUD OD GHWHFFLyQ FRQWURO RSRUWXQR \ HUUDGLFDFLyQ GH HQIHUPHGDGHV DQLPDOHV D WUDYpV GHO VLVWHPD GH DOHUWD WHPSUDQD \ VX UHG GH VHQ VRUHV &RQ HVWRV LQVWUXPHQWRV VH SUHWHQGH GHWHFWDU OD HQ IHUPHGDG FRQ HO SURSyVLWR GH SUHYHQLU SHUGLGDV HFR QyPLFDV \ WUDQVPLVLyQ D KXPDQRV


5&." $&/53"13*.&3" 26*/$&/" 4&15*&.#3& %&

&M SFUP EFM TFDUPS DPO MPT BDVFSEPT DPNFSDJBMFT $ SURSyVLWR GH ORV WUDWD GRV GH OLEUH FRPHUFLR OD FD GHQD SURGXFWLYD GHO PDQJR OH DSXHVWD D PHMRUDU ODV FRQ GLFLRQHV SURGXFWLYDV GH ORV KXHUWRV HQ HO SDtV SDUD HVWR GLVHxy XQD HVWUDWHJLD SDUD WUDQVIHULU ODV H[SHULHQFLDV WHFQROyJLFDV H[LWRVDV HQ SDt VHV FRPR 3HU~ \ (FXDGRU (O VHFUHWDULR GH OD &DGH QD 3URGXFWLYD 1DFLRQDO GHO 0DQJR -XDQ 5RGULJR $OYD UDGR H[SOLFy FXiOHV SDtVHV VH HQFXHQWUDQ H[SRUWDQGR PDQJR KDFH DSUR[LPDGD PHQWH DxRV D ORV SULQFL SDOHV PHUFDGRV GHO SODQHWD HVSHFLDOPHQWH D (VWDGRV 8QLGRV \ OD 8QLyQ (XURSHD ยข&XiOHV VRQ ORV PDQ JRV PiV DSHWHFLGRV SRU HO PHUFDGR" /DV YDULHGDGHV GH PDQJR PiV FRPHUFLDOL]DGDV HQ IUX WD IUHVFD HQ HO PXQGR VRQ 7RPP\ $WNLQV .HQW \ .HLWW DXQTXH HQ OD DFWXDOLGDG H[LVWH XQD IXHUWH WHQGHQFLD D OD SURGXFFLyQ GH PDQJR GH YDULHGDGHV DPDULOODV FRPR $WDXOIR \ 0DQLOD ยข'H TXp WUDWD OD PL VLyQ WHFQROyJLFD TXH YLH QHQ DGHODQWDQGR ORV SURGXFWRUHV" /D PLVLyQ WHFQROyJLFD YL VLWy OD FLXGDG FRVWHUD GH 3LX UD HQ HO 3HU~ DKt FRQ HO DSR \R GHO ร QJHO *DPDUUD SUHVL GHQWH GH OD $VRFLDFLRQ 3UR PDQJR GH HVWH SDtV VH YLVL WDURQ SUHGLRV GH SURGXF WRUHV GH DYDQ]DGD XWLOL]DQGR XQD GLQiPLFD SUiFWLFD SDUWLFLSDWLYD HQ WR GDV ODV IDVHV GHO FXOWLYR GRQ GH ORV SURGXFWRUHV WXYLHURQ OD RSRUWXQLGDG GH LQWHUFDP ELDU H[SHULHQFLDV WHFQROyJL

FDV FRQ VXV KRPyORJRV SH UXDQRV ยข(Q TXp RWURV SDtVHV FRPSDUWHQ H[SHULHQ FLDV" (Q *XD\DTXLO (FXDGRU DOOt SDUWLFLSDPRV HQ HO ,9 &RQJUHVR 0XQGLDO GHO 0DQJR (FXDWRULDQR XQ HYHQWR GH JUDQ UHFRQRFL PLHQWR HQ HO VHFWRU KRUWLIUX WtFROD LQWHUQDFLRQDO HQ HO TXH VH SUHVHQWDURQ ORV ~OWLPRV DYDQFHV WHFQROyJLFRV HQ OD LQGXVWULD GHO PDQJR IUHVFR FRQ OD LQWHUYHQFLyQ GH 5L FKDUG &DPSEHOO H[SHUWR HV WDGRXQLGHQVH HQ SURGXFFLyQ \ PHMRUDPLHQWR JHQpWLFR GHO PDQJR ยข4Xp SDSHO FXPSOH HVWD PLVLyQ LQWHJUDO GHQ WUR GH OD FDGHQD" )XHURQ PiV GH SUR GXFWRUHV GH GHSDUWDPHQ WRV GH &RORPELD OD PD\RU SDUWLFLSDFLyQ OD FRQFHQWUD OD &RVWD $WOiQWLFD &XQGLQD PDUFD \ 7ROLPD ORV TXH SDU WLFLSDURQ GH HVWH HYHQWR 3RU IRUWXQD OD RUJDQL]DFLyQ FXHQWD FRQ HO DSR\R GHO )RQ GR GH )RPHQWR +RUWLIUXWLFR OD \ $VRKRIUXFRO TXH OH DSRV WDURQ D HVWH OODPDGR GH OD FD GHQD SDUD PHMRUDU ODV FRQGL FLRQHV SURGXFWLYDV GHO SDtV ยข(Q TXp ]RQD GHO SDtV VH FRQFHQWUD OD PD\RU SURGXFFLyQ GH PDQJR" &XQGLQDPDUFD VH PDQ WLHQH FRPR HO GHSDUWDPHQWR OtGHU HQ SURGXFFLyQ GH PDQ JR FRQ WRQHODGDV HV WLPDGDV HQ HO UHSUH VHQWDQGR HO GHO WRWDO QDFLRQDO 7ROLPD \ 0DJGDOH QD RFXSDQ HO VHJXQGR \ WHU FHU SXHVWR HQ iUHD VHPEUDGD

Atlรกntico 2

7 Magdalena 4

3 Bolรญvar

Cรณrdoba 5

Tolima

6

8

2009

2010*

2011

17953

19608

21591

21152

Producciรณn

2008

1

Antioquia

5,70% 2

Atlรกntico

3,4% 3

Bolรญvar

7,00% 4

Cesar

2,50% 5

Cรณrdoba

2,20% 6

Cundinamarca

Magdalena

8

Tolima

26,60%

.0%&3/"4

9

$6/%*/"."3$"

10

&- 163ยญ

184814 239127 341964 256473

8,60%

4& ."/5*&/& $0.0 &- %&1"35".&/50 -ยฑ%&3 &/ 130%6$$*ยถ/ %& ."/(0 $0/ 50/&-"%"4 3&13&4&/5"/%0 &- %&- 505"- /"$*0/"-

$PMPNCJB FY

2008 Hectรกreas

Otros

4,30% Total nacional

100%

2500

Familias de pequeรฑos agricultores son los que se encargan de recoger la fruta

Cundinamarca

ร rea, producciรณn y rendimiento del cultivo del mango en Colombia

7

.ยฆ26*/"4 %& ยผ-5*." 5&$/0-0(ยฑ" 130$&4"/ -" '365" 26& &4 3&$0(*%" %*"3*".&/5& %&- $".10 $0-0.#*"/0103 1&26&ยต"4 '".*-*"4

9 Otros

1 Antioquia

39,10%

+VBO 3PESJHP "MWBSBEP TFDSFUBSJP EF MB $BEFOB 1SPEVDUJWB /BDJPOBM EFM .BOHP FYQMJDร MBT WFOUBKBT EF FTUF DVMUJWP

Cesar

90%

De la fruta se compra a agricultores de la regiรณn Caribe, Antioquia, Cundinamarca, Tolima, Cรณrdoba y Magdalena y Santander.

2009

Producciรณn (tons) 12.284 13.659 12.436 13.229 Producciรณn (tons) 8.179 8.247 8.840 10.450 Producciรณn (tons) 12.924 16.748 22.013 22.013 Producciรณn (tons) 6188 5898 6034 5348 Producciรณn (tons) 5.295 5.358 2.985 2.770 Producciรณn (tons) 66.320 64.988 67.475 50.356 Producciรณn (tons) 18.406 20.534 25.102 23.124 Producciรณn (tons) 47.275 93.495 102.649 47.940 Producciรณn (tons) 10.525 10.202 10.295 10.880 Producciรณn (tons) 187.396 239.127 341.964 186.108

2010*

2011

%& '365" &4 &.1"$"%0 &/ 5".#03&4 %& ,*-04 1"3" 46 1045&3*03 %&41"$)0 %&4%& -" ;0/" '3"/$" %& #"33"/26*--"

i6/" %& -"4 -"#03&4 .ยฆ4 "(3"%"#-&4 %& &45& /&(0$*0 &4 26& 4& )" -0(3"%0 -" $0/'03."$*ยถ/ %& -" $"%&/" 130%6$5*7"u 4&3(*0 ,"3"(6.&$)*"/ (FSFOUF DPNFSDJBM $&"

i-" $"%&/" 5".#*ยญ/ 53"#"+" &/ -" &91035"$*ยถ/ %& '365"4 5301*$"-&4 $0.0 /ยฑ41&30 ;"105& : 5"."3*/%0 u ."3$0 1*/&%" $"#3"-&4 &NQSFTBSJP EFM TFDUPS GSVUร DPMB

1R VH SXHGH QHJDU OD UL TXH]D IUXWtFROD FRORPELD QD 3HUR OD YLVLyQ GH H[SOR WDU HVH SRWHQFLDO YD PiV DOOi GH ODV ERQGDGHV TXH RIUHFH OD FDGHQD HQ OD LQ GXVWULD FRORPELDQD (V SRU HVR TXH HPSUH VDV FRPR OD &RPSDxtD (Q YDVDGRUD GHO $WOiQWLFR XELFDGD HQ OD FLXGDG GH %D UUDQTXLOOD YLVLRQy WLHPSR DWUiV OD RSRUWXQLGDG GH H[ SRUWDU IUXWD SURFHVDGD EDMR OD SUHPLVD GH TXH HUD QHFH VDULR GLYHUVLILFDU ORV SUR GXFWRV \ DPHQWDU ORV YRO~ PHQHV GH SURGXFFLyQ +R\ HO GHO SXUp \ FRQFHQWUDGR GH SXOSD GH IUXWD TXH HVWD HPSUHVD SURFHVD VH YHQGH D GRV GH ODV PiV JUDQGHV FRPSDxtDV GH EHELGDV FDUERQDWDV HQ HO PXQGR D GH ODV SULQFL SDOHV LQGXVWULDV GH MXJR D QLYHO PXQGLDO D GH ODV ILUPDV PiV UHSUHVHQWDWLYDV GH DOLPHQWRV SDUD QLxRV \ D GRV IDEULFDQWHV PXQGLDOHV GH KHODGRV (O UHVWDQWH VRQ FOLHQ WHV GH OD LQGXVWULD QDFLRQDR FRPR MXJRV +LW 7XWL IUXWL &RFD &ROD &DOLIRUQLD


5&." $&/53"13*.&3" 26*/$&/" 4&15*&.#3& %&

2`400 millones

Con modernos equipos de tecnología nacional, americana, italiana, y sueca, la Compañía Envasadora del Atlántico procesa más de 2’400.000 kilos de fruta por día.

60

9 99%

millones

de la producción se exporta a

2

El acumulado de la cosecha de mango en 2012 llega aproximadamente a los 60'000.000 kilos.

de las más grandes compañías de bebidas carbonatas en el mundo

8 7

de las principales industrias de jugo a nivel mundial

de las firmas más representativas de alimentos para niños.

YQPSUB FM NFKPS QVSÏ EF GSVUB 2UHQVH OD &RQVWDQFLD \ 6DQ -RUJH 6RQ PiV GH IDPL OLDV GH SHTXHxRV DJULFXOWR UHV GH OD UHJLyQ &DULEH $Q WLRTXLD &XQGLQDPDUFD HO 7ROLPD \ RWUDV ]RQD GHO SDtV TXH VH OHYDQWDQ PX\ WHPSUDQR HQ OD PDxDQD SDUD FRVHFKDU OR TXH SRVWH ULRUPHQWH VH YD D SURFHVDU HQ KRUDV GH OD WDUGH ³8QD GH ODV ODERUHV PiV DJUDGDEOHV TXH KD ORJUDGR WHMHU HQ HVWH QHJRFLR HV OD FRQIRUPDFLyQ GH OD FDGHQD SURGXFWLYD &($ WUDEDMD FRQ SHTXHxRV DJULFXOWRUHV TXH VRQ ORV SULQFLSDOHV SURYHHGRUHV GH OD PDWHULD SULPD´ DVHJXUy 6HUJLR $ .DUDJXPHFKLDQ JHUHQWH FRPHUFLDO GH OD FRPSDxtD 3RVWHULRUPHQWH D WUDYpV GH PRGHUQRV HTXLSRV FRQ WHFQRORJtD QDFLRQDO DPHUL FDQD LWDOLDQD \ VXHFD &($ SURFHVD PiV GH ¶ NLORV GH IUXWD SRU GtD VLHQ GR XQD GH ODV PiV JUDQGHV SURFHVDGRUDV DJURLQGXV WULDOHV GH SXOSDV WURSLFDOHV GHO SDtV /D JXD\DED OD PDUDFX\i \ HO PDQJR FRQIRUPDQ HO WUtR GH VDERUHV GHO SRUWDIR OLR GH SXUp \ FRQFHQWUDGRV WURSLFDOHV GH HVWD DJURLQ GXVWULD VLQ HPEDUJR HO PDQJR HV HO PiV DSHWHFL GR \ OOHJD D

-B GSVUB QBTB QPS NÃT EF DJODP QSPDFTPT EF MBWBEP Z TFMFDDJÓO

PHUFDGRV GHO PXQGR VLHQ GR (VWDGRV 8QLGRV HO SULQ FLSDO GHVWLQR FRQ HO VHJXLGR SRU SDtVHV GHO 0H GLR 2ULHQWH (XURSD QRUWH \ VXU GH ÈIULFD 2FHDQtD $XVWUDOLD 6XUDPpULFD &HQ WURDPpULFD \ HO &DULEH ³(O ORJUR \ OD VDWLVIDF FLyQ PiV JUDQGH TXH XQD LQGXVWULD GH SXOSDV GH IUX WDV SXHGD WHQHU HV FXDQGR XQ VDERU \ XQ QRPEUH WUDV FLHQGHQ ODV IURQWHUDV \ WLH QH XQD FRQQRWDFLyQ GH FDOL GDG D QLYHO LQWHUQDFLRQDO´ DJUHJy .DUDJXPHFKLDQ 4&--0

&5"1"4 %&- 130$&40 %& -" '365" -B GSVUB QBTB QPS WBSJBT FUBQBT EF MBWBEP Z TFMFDDJØO DPO FM GJO EF TFQBSBS MBT CVFOBT EF MBT EB×BEBT 1PTUFSJPSNFOUF QBTB QPS VOPT UÏSNJDPT EPOEF TPO EFTJOGFDUBEBT Z MVFHP TF QSPDFEF B SFUJSBS MB DÈTDBSB 'JOBMNFOUF TF MF FYUSBF FM KVHP B MB GSVUB QBSB FOUSBS B VO QSPDFTP EF FWBQPSBDJØO Z VMUSBQBTUFVSJ[BDJØO QBSB RVF MB DPODFOUSB DJØO RVF TF PCUFOHB TFB UJQP QVSÏ

³1XHVWUD JXD\DEDV GH MDURQ GH VHU IDPRVDV SRU VX RORU FXDQGR SUREDURQ VX VDERU HV TXH UO WUySLFR VROR VH FRQRFH FXDQGR VH SUXH ED´ GLFH .DUDJXPHFKLDQ KDFLHQGR DOXVLyQ DO VORJDQ GH OD HPSUHVD (Q HO ORJUy HO GHV 3DUD HVWH JHUHQWH FR PHUFLDO HO VDERU GHO SDFKR GH FRQWHQHGR PDQJR FRORPELDQR HV UHV HO DxR SDVDGR HO YROX PiV TXH XQ HFRQRFL PHQ FUHFLy XQ (Q PLHQWR PXQGLDO HV &($ WUDEDMDQ SHUVRQDV SRU HVR TXH &($ KD GH IRUPD SHUPDQHQWHV \ HQ TXHULGR DILDQ]DU VX WHPSRUDGD GH FRVHFKD PDUFD ³0DJGDOHQD DEULO D MXOLR FUHD DOUHGH 5LYHU 0DQJR ´ OR GRU GH HPSOHRV WHPSR JUDQGR DFHSWDFLyQ HQ UDOHV OD HODERUDFLyQ GH ODV PDV UHFRQRFLGDV PDU 53"#"+0 &/ &26*10 'HVGH HO DxR VH FDV GH OD LQGXVWULDV GH MX JRV UHIUHVFRV DOLPHQWRV FUHy OD )XQGDFLyQ 6RFLDO SDUD QLxRV OiFWHRV \ FRQ &($ FX\R REMHWLYR HV OD FUHDFLyQ GH XQ QXHYR PR GLPHQWRV

-B FNQSFTB DVFOUB DPO USFT MÓOFBT EF QSP EVDDJØO MB MÓOFB EF QVMQBT BTÏQUJDBT MB MÓOFB EF QVMQBT DPOHFMBEBT &O MB MÓOFB EF QVMQBT BTÏQUJDBT Z DPOHFMBEBT TF QSPEVDF KVHP TJN QMF BM RVF TF MF EFOPNJOB QVSÏ Z DPODFOUSB EP RVF TF PCUJFOF EF TPNFUFS B FWBQPSBDJØO FM KVHP TJNQMF DPO FM GJO EF BVNFOUBS FM QPS DFOUBKF EF TØMJEPT TPMVCMFT FO FM &TUPT QSP EVDUPT TPO FNQBDBEPT FO CPMTBT BTÏQUJDBT

GHOR GH DJULFXOWRUHV PRGHU QRV TXH JDUDQWLFHQ HO VXPL QLVWUR GH OD IUXWD (Q GLFKD ODERU KDQ SDU WLFLSDGR HQ DVRFLR \ FRPR FR ILQDQFLDGRUHV FRQ )XQ GDFHD HQWLGDGHV QDFLRQDOHV LQWHUQDFLRQHV \ PXOWLODWHUD OHV FRPR OR VRQ $5' &$33 86$,' 318' 81 3UR \HFWR 0,'$6 0LQLVWHULR GH $JULFXOWXUD 1DFLRQDO \ OD )XQGDFLyQ 'DYLYLHQGD ³/D HPSUHVD QR YHLD Oy JLFR TXH HO FUHFLPLHQWR GH OD LQGXVWULD HVWXYLHUD D HV SDOGDV GHO GHVDUUROOR GH ODV ]RQDV GHSULPLGDV GH GRQGH YHQtDQ SULQFLDSDOPHQWH ODV PDWHULDV SULPDV´ SUHFLVy .DUDJXPHFKLDQ WUDV VHxD ODU TXH HO IXWXUR GH OD HP SUHVD HVWD OLJDGD DO PHMRUD PLHQWR VRFLDO \ DPELHQWDO

&- %"50

.&3$"%04 %*45*/504 $0.&3$*"-*;"/ &- $0/$&/53"%0 %& '365" 26& &4 130$&4"%0 %&4%& -" 1-"/5" %& #"33"/26*--"


&41&$*"- 53"/41035& : ."26*/"3*" 13*.&3" 26*/$&/" 4&15*&.#3& %&

5SBOTQPSUF EF DBSHB DPNP NPUPS EF MB BHSJDVMUVSB OBDJPOBM <D KDFH PXFKRV DxRV &M USBOTQPSUF EF DBSHB TXH OD HYROXFLyQ GHO VHFWRU GBDJMJUB MPT USBCBKPT EFM DJULFXOWRU OH OOHYy D LQFRU DBNQP Z PQUJNJ[B SRUDU D VX DFWLYLGDG OD PD MB QSPEVDDJÓO TXLQDULD XQ SDVR DGHODQWH TXH GHVGH HQWRQFHV IDFLOL WD HO GHVHPSHxR GH VXV WUDEDMDGRUHV 3DUWLFXODUPHQWH GHQ WUR GH HVD PDTXLQDULD OD LQFXUVLyQ GH ORV YHKtFXORV GH WUDQVSRUWH GH FDUJD VX SXVR XQ JUDQ DYDQFH SDUD OD DJULFXOWXUD WUDGLFLRQDO UHGXFLHQGR HQ JUDQ PHGL GD ORV WLHPSRV GH HQWUHJD \ ODV EDUUHUDV WHUULWRULD OHV (V WDO OD LPSRUWDQFLD TXH KDQ FREUDGR HVWRV HTXLSRV TXH GHVGH HQWRQ FHV \ D~Q HQ OD DFWXDOLGDG VH SXHGHQ FRQVLGHUDU PR WRU GH OD DJULFXOWXUD QDFLR QDO 6LQ HPEDUJR DXQTXH &RORPELD KD UHDOL]DGR DYDQFHV HQ HVWH DVSHFWR ODV H[LJHQFLDV GHO PHUFD GR VREUH WRGR GHVSXpV GH OD VXVFULSFLyQ GHO 7UDWDGR GH /LEUH &RPHUFLR FRQ (V Créditos desembolsados para maquinaria WDGRV 8QLGRV KDFHQ TXH Valor de créditos Número de créditos OD LQIUDHVWUXFWXUD PDTXL -B EFNBOEB EF NBRVJOBSJB FO $PMPNCJB TF IB WJTUP BGFDUBEB Millones $ *Periodo enero-julio QDULD GHO SDtV GHED DGDS IJTUØSJDBNFOUF QPS WBSJPT GBDUPSFT UBOUP JOUFSOPT DPNP FYUFS 2007 1.061 2007 108.806 WDUVH D XQ PHUFDGR PD\RU OPT 4FHÞO MBT NBSDBT MB NBZPS DJGSB TF QVFEF FODPOUSBS FO FM TFDUPS HBOBEFSP ZB RVF TV EFNBOEB FT DPOUJOVB EVSBOUF UPEP PiV FRPSOHMR \ FRQ XQD FM B×P $PO SFMBDJØO B MPT PUSPT TFDUPSFT EFM BHSP IBZ RVF UFOFS 2008 3.564 2008 124.712 GXUD FRPSHWHQFLD FO DVFOUB MPT BTQFDUPT FTUBDJPOBMFT RVF QSPWPDBO RVF MB VUJMJ[B 2009 3.108 2009 128.332 (Q HVWH VHQWLGR VRQ YD DJØO EF FTUBT NÈRVJOBT RVFEF SFEVDJEP B VOB UFNQPSBEB FO ULRV ORV IDFWRUHV TXH OOHJDQ DPODSFUP DPNP QPESÓB PDVSSJS DPO FM DVMUJWP EFM DFSFBM FM BSSP[ P 2.324 2010 63.926 2010 D LQIOXLU HQ OD PDQHUD GH MBT MFHVNJOPTBT &O FM DBTP QBSUJDVMBS EF $PMPNCJB FTUB TJUVB DJØO MMFWØ B×PT BUSÈT B VOB QÏSEJEB EF MB EFNBOEB FO [POBT 2011 2.834 124.386 2011 HYDOXDU OD FDSDFLGDG GH OD SVSBMFT QPS DVMQB EF MB JOTFHVSJEBE RVF FYJTUÓB MP DVBM IJ[P RVF DJULFXOWXUD QDFLRQDO DXQ MPT BHSJDVMUPSFT SFEVKFSBO TVT JOWFSTJPOFT 2012* 49.969 2012* 1.329 TXH FRPR VLHPSUH ORV PiV Tractores combianas e LPSRUWDQWHV VRQ OD FDQWL HQ HO \ XQDV HQ UHVXOWDQ VHU VRQ PiV DOHQ Total 14.220 Créditos implementos agrícolas GDG \ OD FDOLGDG GH GLFKD HO 3DUD HO OD FL WDGRUDV DO UHJLVWUDU VHJ~Q 600.131 Valor Fuente: Finagro PDTXLQDULD IUD YD FUHFLHQGR SHUR KD\ )HQDOFR XQDV YHQWDV GH &DUORV &DQHOyQ JHUHQWH TXH VHJXLU WUDEDMDQGR FDVL XQLGDGHV HQ Nº de tractores Principales marcas de tractores JHQHUDO GH 7UDFWR&HQWUR SDUD DOFDQ]DU HVH SRWHQ HO SULPHU VHPHVWUH GH importados que se comercializan en el país &RORPELD DVHJXUy TXH ³HO FLDO TXH WLHQH HO PHUFDGR XQ PiV TXH John Deere Valtra PHUFDGR FRORPELDQR GX FRORPELDQR HO FXDO HV GH Case Landini UDQWH PXFKRV DxRV IXH PX\ WUDFWRUHV SRU DxR $KRUD ELHQ VL WHQHPRV New Holland Kioti Massey Ferguson Game SHTXHxR FX\DV FRPSUDV RV DJUHJy &DQHOyQ HQ FXHQWD ODV FLIUDV GH FUp Same - Deoutz Kubota 2007 2008 2008 2010 2011 FLODEDQ DOUHGHGRU GH $O KDFHU XQD FRPSDUD GLWRV GHVHPEROVDGRV SDUD Foton Fuente: Mercosur WUDFWRUHV SRU DxR (Q HO FLyQ FRQ OD VLWXDFLyQ GH WUDQVSRUWH \ PDTXLQDULD UHFRPHQ]y XQ SURFH RWURV SDtVHV TXHGD GH PD DJUtFROD )UDQFLVFR (VWXSL VR GH LQYHUVLyQ DJUtFROD \ QLILHVWR TXH HO PHUFDGR xiQ +HUHGLD SUHVLGHQWH HVWD OtQHD VH VLWXDURQ HQ VLEOHV TXH DGHPiV GH SRU &RORPELD LPSRUWy FHUFD GH FRORPELDQR HVWi XQ SDVR GHO %DQFR $JUDULR GHVYHOy PLOORQHV´ ODV XWLOLGDGHV VXHOHQ HVWDU ORV WUDFWRUHV´ GHWUiV GH DOJXQRV GH VXV TXH ³HQ PDTXLQDULD \ +D\ TXH WHQHU HQ FXHQ UHIOHMDGDV SRU OD SRWHQFLD $ SDUWLU GHO FR YHFLQRV FRPR &KLOH FRQ HTXLSR HQWUH HQHUR \ MXOLR WD TXH ODV RQFH PDUFDV TXH \ HO WRQHODMH GH FDGD YHKt PHQ]DURQ ORV SUREOHPDV XQLGDGHV FRPHUFLD GH HVWH DxR VH XELFDQ HQ FRPHUFLDOL]DQ HVWD PDTXL FXOR GH OD ROD LQYHUQDO OR TXH OL]DGDV $UJHQWLQD FRQ PLOORQHV (Q HO QDULD HQ &RORPELD VH (O JHUHQWH GH 7UDFWR DIHFWy HQ JUDQ PHGLGD DO WUDFWRUHV HQ \ SDUD HO PLVPR SHULR PDQWLHQHQ HQ FRQWLQXD &HQWUR DxDGLy TXH ORV SUH PHUFDGR (QWUH HO \ %UDVLO FRQ PiV GH GR HUDQ GH (Q PHMRUD GH VXV PRGHORV FLRV GH WUDFWRUHV YDUtDQ HO PHUFDGR VH GHSUL PiTXLQDV FXDQWR D WUDQVSRUWH VRQ GRQGH VH WLHQGH D LQFRUSR GHVGH KDV PLy KDVWD UHGXFLUVH OD FR 3DUDGyMLFDPHQWH ODV PLOORQHV PLHQWUDV UDU HOHPHQWRV TXH IDFLOLWHQ WD VHJ~Q HO PHUFLDOL]DFLyQ GH WUDFWR FLIUDV GH YHQWD GH YHKtFX TXH HQWUH HQHUR \ MXOLR GH HO WUDEDMR DXQTXH SUHVHQ WLSR GH SRWHQFLD TXH HO UHV D XQDV XQLGDGHV ORV GH WUDQVSRUWH GH FDUJD ORV GHVHPEROVRV SRU WDQ DOJXQDV GLIHUHQFLDV YL FRPSUDGRU HVWp EXVFDQGR 2200

1850

1144

2433

1329

4&$503&4 $0/ %&."/%"

i4*/ %6%" $0-0.#*" 5*&/& 26& &26*1"34& %& /6&7" ."26*/"3*" 1"3" )"$&3 .¦4 &'*$*&/5& -" 130%6$$*¶/ : &- 3&/%*.*&/50 %&- 4&$503 "(3±$0-" %&- 1"±4u $"3-04 $"/&-»/ (FSFOUF HFOFSBM EF 5SBDUPDFOUSP $PMPNCJB

&- %"50

103 $*&/50 %& 7"3*"$*»/ 3&(*453¶ -" 7&/5" %& 7&)±$6-04 %& 53"/41035& %63"/5& &- '3&/5& " -"4 $*'3"4 %&- "µ0


&41&$*"- 53"/41035& : ."26*/"3*" 999999999999 13*.&3" 26*/$&/" 4&15*&.#3& %&

-BT OVFWBT UFDOPMPHÓBT RVF BZVEBO B NFKPSBS MB QSPEVDUJWJEBE BHSBSJB 3HVH D TXH VH SXHGH OOH JDU D SHQVDU TXH OD DJULFXO WXUD HV XQ VHFWRU TXH VLHP SUH YD DFRPSDxDGR FRQ OD HWLTXHWD GH µFRQVHUYDGR \ DQWLFXDGR¶ GHVGH KDFH XQ EXHQ WLHPSR VH KDQ ORJUDGR JUDQGHV DYDQFHV \ PHMRUDV WHFQROyJLFDV TXH HQ PX FKRV FDVRV KDQ UHYROXFLR QDGR HO GHVHPSHxR GH ORV WUDEDMDGRUHV GHO VHFWRU (Q HVWH DVSHFWR XQR GH ORV WpUPLQRV TXH PiV VH XWLOL]D D OD KRUD GH KDEODU GH QXHYDV WHQGHQFLDV HV HO GH DJULFXOWXUD GH SUHFLVLyQ DOJR TXH SDUD 5DIDHO &DUYD MDO JHUHQWH GH 7UDFWRJHU PDQD HV ³FRPR KDEHU WUD EDMDGR FRQ ORV RMRV WDSDGRV \ GH UHSHQWH SRGHU YHU´ (VWH WLSR GH DJULFXOWXUD VXSRQH XWLOL]DU HTXLSRV XWL OLWDULRV \ WHFQROyJLFRV SULQFLSDOPHQWH PHGLDQWH VLVWHPDV GH SRVLFLRQDPLHQ WR *36 PHGLDQWH ORV FXDOHV VH SXHGD FRQWUDUUHVWDU ODV YDULDFLRQHV HQ FXDQWR D OD SURGXFFLyQ HQ HO WHUUHQR OR TXH D\XGD D XQD PD\RU SURWHFFLyQ GHO HQWRUQR \ XQ LQFUHPHQWR HQ OD UHQWDELOL GDG UHQGLPLHQWR \ HQ HO WUDWDPLHQWR 6RQ PXFKDV ODV QXHYDV WHFQRORJtDV TXH KDQ LQFXU VLRQDGR HQ OD DJULFXOWXUD FRORPELDQD &DUYDMDO GHVWD FD HO VLVWHPD GH EDQGHULOOH UR VDWHOLWDO \ HO PDOHDGRU FRQ SDQWDOOD WiFWLO 8Q VLV WHPD *36 TXH D\XGD DO DJULFXOWRU DO JXLDGR GH OD PDTXLQDULD \ JHQHUD XQD UHGXFFLyQ GH FRVWRV XQ DX PHQWR HQ OD HILFLHQFLD RSH UDWLYD TXH VXSRQH PD\RU YHORFLGDG GH WUDEDMR \ UH GXFFLyQ GH IDOORV DVt FRPR OD SRVLELOLGDG GH UHDOL]DU SUHVXSXHVWRV GH PDQHUD H[DFWD 7DPELpQ HV UHVFDWDFD EOH TXH GHVGH OD DSDULFLyQ GH HVWH WLSR GH HTXLSRV HO SUHFLR GH FRPSUD GH LQVWD ODFLyQ VH KD UHGXFLGR QR WRULDPHQWH KDVWD XQ SUH FLR DSUR[LPDGR GH PL OORQHV 'LVWLQWDV PDUFDV RIUH FHQ XQ FDWiORJR FRPSOHWR

&YJTUFO VOB HSBO DBOUJEBE EF IFSSBNJFOUBT RVF GBDJMJUBO MB MBCPS EFM DBNQP BZVEBO B BVNFOUBS FM SFOEJNJFOUP Z SFEVDJS MPT DPTUPT PQFSBUJWPT GH SURGXFWRV HQWUH ORV TXH GHVWDFDQ HO UHFHSWRU VWDUIL UH ,7& FRQVLGHUDGR HO UH FHSWRU GH SRVLFLyQ PiV DYDQ]DGR R OD JDPD *UH HQVWDU IRUPDGR SRU PRQL WRUHV SDUD HO YHKtFXOR \ SURFHVDGRUHV GH FDUiFWHU PyYLO 3DUD /XLV )HUQDQGR /L PDV MHIH QDFLRQDO GH PH FDQL]DFLyQ GH &DVD 7RUR ³OD DJULFXOWXUD GH SUHFLVLyQ KDFH TXH HO DJULFXOWRU SLHU GD PHQRV LQVXPRV SRU FDGD XQLGDG GH iUHD OR FXDO GHPXHVWUD TXH FXDQGR VH WLHQH PiV SUHFLVLyQ HQ XQD PDTXLQD OD YLGD ~WLO VH DODUJD \ WRGR HVR UHGXQ GD HQ HFRQRPtD GH FRP EXVWLEOH´ 3HUR QR WRGDV ODV PHMR UDV SDVDQ SRU VHU DSDUDWRV HOHFWUyQLFRV 0XFKDV GH ODV QXHYDV WHQGHQFLDV FRQVLV

WHQ HQ OOHYDU LPSOHPHQWRV WDQWR HQ OD SDUWH GHODQWHUD FRPR HQ OD WUDVHUD GHO WUDF WRU OR TXH IDFLOLWD YDULDV OD ERUHV VLPXOWiQHDV HQ HO FDPSR GH IRUPD TXH LQV WUXPHQWRV FRPR DUDGRV FLQFHOHV SRVHUDV FDYDGR UDV \ QHEXOL]DGRUDV VRQ \D FRPXQHV (Q HVWH VHQWLGR /LPDV FRQILUPy HVWD WHQGHQFLD \ DVHJXUy TXH ³KR\ HQ GtD VH HVWD GDQGR PXFKR GHVDUUR OOR WHFQROyJLFR HQ LPSOH PHQWRV DJUtFRODV SULQFLSDO PHQWH HQ VHPEUDGRUDV \ FRVHFKDGRUDV 8Q HMHPSOR LPSRUWDQWH HV XQ WUDFWRU TXH QR VROR YLHQH FRQ SLORWR DXWRPiWLFR VLQR TXH WDP ELpQ OOHYD WDPELpQ FDMDV GH WUDQVPLVLyQ PXFKR PiV HILFLHQWHV VLQ HPEUDJXH KD\ PDV FRQWURO GH OD ODERU \ HV PiV HILFLHQWH´ GLFH

EN

Instalación, Riegos y Drenajes

www.tecmeco.com info@tecmeco.com Calle 161ª Nro 20-67 Tel. (+57-1) 674.6022 Bogotá D.C. - Colombia

&- %"50

.*--0/&4 0 .&/04

&4 &- $0450 103 &- $6"- 4& 16&%&/ &/$0/53"3 "-(6/04 %& -04 /6&704 &26*104 5&$/0-¶(*$04

"1-*$"$*»/ %& 5&$/0-0(¶" ":6%" " 3&%6$*3 $04504 %FTEF MVFHP VOB EF MBT NBZPSFT QSJPSJEBEFT RVF TF QMBOUFBO FO DVBOUP B MBT OVFWBT UFDOPMPHÓBT FT RVF FTUBT BZVEFO BEF NÈT EF NFKPSBS FM SFOEJNJFOUP Z MB DBMJEBE B VOB SFEVDDJØO TVTUBODJBM EF DPTUPT FO MPT RVF TF JODVSSF QPS DBEB PQFSBDJØO Z FTUB TJO EVEB FT VOB EF MPT HSBOEFT PCKFUJWPT RVF QFSTJHVFO MBT OVFWBT UFOEFODJBT -VJT 'FSOBOEP -JNBT KFGF OBDJPOBM EF NFDBOJ[BDJØO EF $BTB 5PSP EFKØ DMBSP RVF iDPO MB BQMJDBDJØO EF UFDOPMPHÓB Z MB SFEVDDJØO EFM DPOTVNP VO BHSJDVMUPS QVFEF QBTBS EF NJMMØO EF DPNCVTUJCMF TFNBOBM EF VO USBDUPS RVF USBCBKB QSPNFEJP IPSBT B MB TFNBOB DPO VO QJMPUP BVUPNÈUJ DP B SFEVDJS VO &T EFDJS QPS MP RVF DPO FM BIP SSP TF BNPSUJ[B VO FRVJQP FO NFTFTw DPODMVZØ

i-"4 /6&7"4 5&$/0-0(±"4 40/ '6/%".&/5"-&4 1"3" 3"$*0/"-*;"3 $04504 1&30 &9*(& 6/" #0-4" %& 53"#"+0 +07&/ : 13&1"3"%" 4* 4& 26*&3& ."4*'*$"3 46 65*-*;"$*¶/u -6; ".1"30 '0/4&$" 1SFTJEFOUB EF $POBMHPEØO

i-" 65*-*;"$*¶/ %& -" 5&$/0-0(±" %& 13&$*4*¶/ &4 .6: 104*5*7" :" 26& 5& ":6%" " 4&3 .¦4 &'*$*&/5& : &40 "- '*/"- &4 -0 26& 5& ":6%" " 3&%6$*3 -04 $04504 %& 130%6$$*¶/u 3"'"&- )&3/«/%&; (FSFOUF EF 'FEFBSSP[

PRODUCCION t Zanjadoras y arado vibratorio.

EN PRODUCCION

t Utilitarios compactos y mini-cargadores. t Perforación horizontal dirigida. t Fluidos de perforación – Baroid IDP. t Unidades de vacío t Topos de perforación.

EN PRODUCCION

EN

EN PRODUCCION

PRODUCCION

*

15%

AS TO A L CUEN ORDENES IÓN S E D DE MERAS ODUCC I 10 PR IO DE INTR ES C N E R P NDICIONES POR ICA CO

* APLY RESTRICCIO

Equipos Multipropósito ZAHN


&41&$*"- 53"/41035& : ."26*/"3*" 13*.&3" 26*/$&/" 4&15*&.#3& %&

-BT DVBUSJNPUPT BZVEBO B IBDFS NÈT FGJDJFOUF MB MBCPS EFM DBNQP /DV FXDWULPRWRV VH KDQ FRQYHUWLGR HQ XQD EXHQD RSFLyQ SDUD PXFKRV SUR GXFWRUHV GHO FDPSR TXLH QHV HQFXHQWUDQ HQ HOODV XQD JUDQ D\XGD SDUD KDFHU PiV HIHFWLYDV VXV ODERUHV $JULFXOWRUHV TXH WUDED MDQ FRQ HVWH WLSR GH YHKtFX ORV FXHQWDQ FyPR KDQ LGR SRFR D SRFR UHHPSOD]DQGR HO XVR GH DQLPDOHV \ GLVPL QX\HQGR OD MRUQDGD ODERUDO OR TXH VH WUDGXFH HQ XQD UHGXFFLyQ GH FRVWRV GH PDQR GH REUD (O FRPSUDGRU FXHQWD FRQ XQ DPSOLR SRUWDIROLR TXH YDUtD VHJ~Q HO WLSR GH SRWHQFLD TXH EXVTXH +D PLOWRQ 5XL] GLUHFWRU GH YHQWDV QDFLRQDO GH $UWLF &DW H[SOLFy TXH WRGRV ORV $79V TXH RIUHFH OD FRPSD xtD VH SXHGHQ HQFRQWUDU HQ HO PHUFDGR FRQ ORV PiV DO WRV HVWiQGDUHV GH FDOLGDG ³6DEHPRV TXH WRGRV QXHVWURV FOLHQWHV WLHQHQ GL IHUHQWHV QHFHVLGDGHV (VWD UD]yQ QRV OOHYD D TXH KR\ HQ GtD PDWHULDOLFHQ VXV H[ SHFWDWLYDV HQ SURGXFFLyQ ODERUDO R GHSRUWLYD´ LQGL Fy 5XL] 2WUR FRPSRQHQWH DGL FLRQDO TXH FREUD IXHU]D HQ ODV FXDWULPRWRV HV HO DKR UUR GH FRPEXVWLEOH 6HJ~Q 5XL] HO GLHVHO HV FDGD YH] PiV DSHWHFLGR SDUD HO WUD EDMR GH FDPSR ³(O EL FLOLQGULFD VRKF GH PRWRU

7"3*"%" 40-6$*»/ &/ 3&.0-26&4

$PNPEJEBE Z WFSTBUJMJEBE PGSFDF FTUF UJQP EF WFIÓDVMPT

-PT SFNPMRVFT TPO WFIÓDVMPT EF DBSHB OP NPUPSJ[BEPT RVF TJSWFO QBSB FM USBOTQPSUF EF DVBUSJNPUPT EF VOB IBTUB DVBUSP VOJEBEFT FO QMBUBGPS NBT EF EPT FKFT DPO USFT BDDFTPT EF DBSHVF CPEFHB FO BMVNJOJP P QMÈTUJDB BNFSJ DBOB &O FM NFSDBEP TF FODVFOUSB EF VOB B IBTUB DVBUSP VOJEBEFT DPO SBNQB DBOBMFUBT HVÓB Z HBODIPT EF BNBSSF 5BNCJÏO FTUÈO MPT EF USBOTQPSUF OÈVUJDP SFNPM RVFT QBSB MBODIBT WFMFSPT ZBUFT Z KFU TLZ MB NBZPS QBSUF FMBCPSBEPT FO MÈNJOB DPMM SPMMFE HBMWBOJ[BEB P BMVNJ OJP -PT USBOTQPSUFT EF WFIÓ DVMPT EF DPNQFUFODJB TPO PUSB HBNB RVF USBCBKB TPCSF QMBUBGPSNBT GJKBT P BCBUJCMFT EF TJTUFNB NFDÈOJDP EF GÈDJM PQFSBDJØO Z CBKP QFTP RVF QFSNJUFO VO NFKPS USBTMBEP

GLHVHO RIUHFH XQ DOWR SHUIRU PDQFH D PX\ EDMDV UHYROX FLRQHV SRU USP WLH QH YDORU GH SDU Pi[LPR GH USP OR TXH JDUDQWL

i-" */%6453*" 53"5" %& 4"5*4'"$&3 -"4 %*'&3&/5&4 /&$&4*%"%&4 4*&/%0 26& 1"3" &- $".10 0 %&1035&4 16&%& 7"3*"3 &- 640 ]D XQD ySWLPD JDPD SDUD HO D\XGD DO DUUDQTXH HQ IUtR SRU DLUH FRQ FDEDOORV %& &4504 7&)±$6-04u )".*-50/ 36¶; WUDEDMR SDUD OD GXUDELOLGDG GHO PRWRU \ WLHQH XQ SUH FDOHQWDGRU GH EXMtD TXH

GHO YHKtFXOR´ DxDGLy /D YHUVDWLOLGDG HQ FXDQ WR DO WLSR GH FXDWULPRWRV TXH VH FRPHUFLDOL]DQ HQ HO SDtV HV DPSOLD SRU HMHP SOR VH HQFXHQWUD OD 3URZOHU +'; 759 OD 0XG 3UR .\PR .D ZDVDNL &DQ $P HQWUH RWUDV PDUFDV TXH VRQ YHQ GLGDV OD PD\RU SDUWH HQ HO $WOiQWLFR 0HWD \ &XQGLQD PDUFD 3RU VX FDUDFWHUtVWLFD PH UDPHQWH GHSRUWLYD ORV GLVH xRV VXHOHQ VHU HQWUH PR GHUQRV \ DJUHVLYRV ([LVWH SRU HMHPSOR FXDWULPRWRV HTXLSDGDV FRQ WUDQVPLVLyQ DXWRPiWLFD HQ ODV UXHGDV TXH RIUHFHQ XQD PD\RU ID FLOLGDG SDUD GDU UHYHUVD VLQ LPSRUWDU HO WHUUHQR GRQGH VH HQFXHQWUH \ WHQHU XQD DPRUWLJXDFLyQ LQGHSHQ GLHQWH HQ OD SDUWH WUDVHUD (VWiQ DTXHOODV TXH FXHQWDQ FRQ PRWRUHV GH FXDWUR WLHPSRV FRQ HQFHQ GLGR HOpFWULFR \ WUDQVPLVLyQ [ y [ VHJ~Q ODV H[LJHQ FLDV GHO WHUUHQR 2WUD JDPD GH FXDWULPRWRV FXHQWD FRQ ULQHV GH DOXPLQLR GLVHxDGD SDUD FRUUHGRUHV SHTXHxRV \ TXH HVWiQ HPSH]DQGR D LQ FXUVLRQDU HQ HO WHPD 3RU OR JHQHUDO FXHQWDQ FRQ XQ PRWRU FXDWUR WLHP SRV FRQ WUDQVPLVLyQ DXWR PiWLFD &97 UHIULJHUDGR

GH IXHU]D \ SRWHQWH OX] GH ODQWHUD VXPDGR D XQ PHFD QLVPR GH DSDJDGR GH HPHU JHQFLD FRQ PDQLOOD WLSR MHW VNL 3RU RWUR ODGR ILJXUDQ ODV FXDWULPRWRV GH DOWR GH VHPSHxR GLULJLGD D FRQGXF WRU DUULHVJDGRV \ GHFLGL GRV 0DQHMD XQ PRWRU FXD WUR WLHPSRV GH FF UHIUL JHUDGR SRU DJXD TXH OH SHUPLWH DQGDU HQ SLVWD \ HQ WURFKD *HQHUDOPHQWH HVWH WLSR GH FXDWULPRWRV SRVHH FD EDOORV GH IXHU]D TXH OR KD FHQ PiV SRWHQWH \ UHVLVWL EOH VLQ LPSRUWDU HO WLSR GH WHUUHQR (V PiV FXHQWD FRQ WUDQVPLVLyQ DXWRPiWLFD &97 FRP~Q HQ ORV $79 GH .\PFR FRQ IUHQRV GH GLVFR GHODQWHURV \ WUDVHURV TXH OH SHUPLWHQ DO FRQGXFWRU WH QHU XQ H[FHOHQWH DJDUUH HQ HO PRPHQWR LQGLFDGR $GLFLRQDOPHQWH HVWi GL VHxDGDV FRQ ULQHV GH DOXPL QLR HQVDQFKDGR OR FXDO KDFH TXH H[LVWD XQD PD\RU VXSHUILFLH GH DGKHUHQFLD HQ ODV OODQWDV 6L YD D FRPSUDU XQD FXDWULPRWRV WHQJD HQ FXHQWD ODV LQVWUXFFLRQHV VR EUH HO PDQHMR (O SULPHU SDVR SDUD FRQGXFLUOD HV SR QHU ORV SLHV HQ HO SLVR SUR FXUDQGR QR LUVH SDUD XQ ODGR SXHV QR WHQHU HVWD SUHFDXFLyQ SXHGH RFDVLR QDU XQ JUDYH DFFLGHQWH

%JSFDUPS EF WFOUBT EF "SUJD $BU

i&- 640 %& $6"530.0504 &/ &- $".10 : 1"3" -"4 -"#03&4 "(3±$0-"4 ":6%"/ " 3&"-*;"3 -"4 "$5*7*%"%&4 %& 6/" '03." .¦4 ¦(*-u -6*4 $"33*--0 *OHFOJFSP BHSØOPNP

&- %"50

$&/5¶.&5304 $Á#*$04

&4 &- $*-*/%3"+& #¦4*$0 %& 6/ 7&)±$6-0 %& &45& 5*10 )"45" 6/0 .¦4 40'*4*5*$"%0 %& $ $


&41&$*"- 53"/41035& : ."26*/"3*" 13*.&3" 26*/$&/" 4&15*&.#3& %&

&O CVTDB EF MB NFDBOJ[BDJØO BHSÓDPMB /RV HPSUHVDULRV GH PD TXLQDULD DJUtFROD GHO SDtV YLVLWDURQ HO 0LQLVWHULR GH $JULFXOWXUD \ 'HVDUUROOR 5XUDO FRQ HO ILQ GH H[SRQHU YDULDV SURSXHVWDV GH PR GHUQL]DFLyQ \ PHFDQL]D FLyQ DJUtFROD $Vt PLVPR GHFLGLHURQ FRQVROLGDUVH FRPR JUHPLR SDUD DSUR SLDUVH GH ODV GLILFXOWDGHV TXH HQIUHQWDQ &RPR YRFHUR GHO QXHYR JUHPLR GH LPSRUWDGRUHV \ GLVWULEXLGRUHV GH PDTXLQD ULD DJUtFROD &HVDU 3DUGR H[SUHVLGHQWH GH )LQDJUR H[SOLFy TXH HVWD GHFLVLyQ VH KDFH FRQ HO ILQ GH VHU ORV LQ WHUORFXWRUHV GHO VHFWRU DQWH HO *RELHUQR 1DFLRQDO HQ WH PDV TXH WLHQHQ TXH YHU FRQ OD PRGHUQL]DFLyQ \ PHFDQL ]DFLyQ DJUtFROD ³9LQLPRV D SODQWHDU DO WHUQDWLYDV DQWH OD GLVPLQX FLyQ GH YHQWD GH PDTXLQD ULD 3URSRQHPRV EXVFDU QXHYRV PHFDQLVPRV SDUD VHJXLU SURPRYLHQGR OD PH FDQL]DFLyQ \D VHD D WUDYpV GH UHFXUVRV VXILFLHQWHV SDUD ORV ,QFHQWLYRV GH &D SLWDOL]DFLyQ 5XUDO ,&5 R DFXHUGRV FRQ ODV HQWLGDGHV ILQDQFLHUDV SDUD SRGHU HV WDEOHFHU XQDV OtQHDV FRQ SOD]RV DPSOLRV \ WDVDV IL MDV´ DJUHJy $O UHVSHFWR SODQWHDURQ JHVWLRQDU UHFXUVRV GH VXE VLGLR SDUD OD FKDWDUUL]DFLyQ TXH QR HVWpQ OLJDGRV DO FUp GLWR VLQR TXH EHQHILFLHQ D TXLHQHV WHQJDQ PDTXLQDULD YLHMD \ FXPSODQ FRQ XQDV FRQGLFLRQHV SDUD HQWUHJDUOD \ UHFLELU EHQHILFLRV HQ OD DGTXLVLFLyQ GH XQD QXHYD (Q OD UHXQLyQ VH DFRUGy HVWDEOHFHU XQD PHVD GH WUD EDMR HQ GRQGH SDUWLFLSDUi HO 0LQLVWHULR GH $JULFXOWX UD OD &RUSRUDFLyQ &RORP ELDQD GH ,QYHVWLJDFLyQ $JURSHFXDULD &RUSRLFD HQWLGDGHV ILQDQFLHUDV \ UH SUHVHQWDQWHV GH ORV GLVWUL EXLGRUHV GH PDTXLQDULD FRQ HO REMHWR GH EXVFDU VR OXFLRQHV DQWH OD SDUiOLVLV GH ORV QHJRFLRV SRU ORV FLHUUHV GH ,&5 DVt FRPR ODV SUR SXHVWDV D PHGLDQR SOD]R HQ ODV TXH EXVFDQ LQFLGLU SRVL WLYDPHQWH HQ OD PHFDQL]D FLyQ DJUtFROD GHO SDtV ³(VWR\ VHJXUR TXH FRQ MXQWDPHQWH FRQ HVWDV HP SUHVDV GHO VHFWRU \ FRQ HO *RELHUQR 1DFLRQDO VH SR GUiQ GHVDUUROODU DOJXQRV LQVWUXPHQWRV LPSRUWDQWHV TXH SHUPLWDQ LQFUHPHQWDU OD PHFDQL]DFLyQ GH XQD PH MRU PDQHUD

.*/*45&3*0 "5&/%*» &- --"."%0 %&- (3&.*0 %VSBOUF MB SFVOJØO EF MPT FNQSFTBSJPT JNQPSUBEPSFT Z EJTUSJ CVJEPSFT EF NBRVJOBSJB QFTBEB FM .JOJTUFSJP EF "HSJDVMUVSB BUFOEJFOEP FM MMBNBEP EFM HSFNJP EFDJEJFSPO DSFBS VOB NFTB EF USBCBKP DPO MB QBSUJDJQBDJØO EFM (PCJFSOP WPDFSPT EFM HSF NJP $PSQPJDB Z FOUJEBEFT GJOBODJFSBT DPO FM GJO EF RVF QVF EBO MMFHBS B VO BDVFSEP TPCSF MB DSFBDJØO EF BMUFSOBUJWBT QBSB RVF MPT QFRVF×PT Z NFEJBOPT QSPEVDUPSFT QVFEBO BDDFEFS B JODFOUJWPT Z BZVEBT RVF BQPSUFO B NFKPSBS TV BDUJWJEBE BHSP QFDVBSJB 4V QSJNFSB SFVOJØO TF MMFWØ B DBCP IBDF WBSJPT EÓBT MPT FNQSFTBSJPT FTQFSBO RVF FM .JOJTUSP EF "HSJDVMUVSB FTUÏ BUFOUP B UPEPT MPT BWBODFT EF MPT FODVFOUSPT

i4& %&#& 53"#"+"3 103 -" .&$"/;*"$*¶/ "(3±$0-" 10326& 6/ (3"/ 103$&/5"+& %& -" ."26*/"3*" 26& 4& 64" &4 0#40-&5" $0/ .¦4 %& "µ04u +03(& 7"3("4 (FSFOUF EF *OWBTB .BRVJOBSJB

i5&/&.04 #"4&4 4¶-*%"4 1"3" $0/4*%&3"3 26& $0-0.#*" $0/5*/¼" .6: "53"4"%" &/ -" 3&/07"$*¶/ "(3±$0-" 5"/50 &/ 53"$503&4 $0.0 &/ 5&$/0-0(±"4u *4"630 .63$*" (FSFOUF (FOFSBM .PUPWBMMF

(Q HVWH VHQWLGR -RUJH 9DUJDV JHUHQWH GH ,QYDVD 0DTXLQDULD DVHJXUy TXH OD PHFDQL]DFLyQ HQ &RORPELD HVWi DWUDVDGD ³6L QRVRWURV QRV SRQHPRV D FRPSDUDU FRQ %UDVLO &KLOH 9HQH]XH OD OD FDQWLGDG GH PDTXLQD ULD DJUtFROD GHO SDtV HV GH WUDFWRUHV \ ORV RWURV SDtVHV QRV WULSOLFDQ HQ Q~ PHUR´ /R PLVPR DGYLHUWH ,VDX UR 0XUFLD JHUHQWH JHQHUDO GH 0RWRYDOOH ³WHQHPRV ED VHV VyOLGDV SDUD FRQVLGHUDU TXH HO SDtV FRQWLQ~D DWUDVD GD HQ OD UHQRYDFLyQ DJUtFR OD WDQWR HQ WUDFWRUHV FRPR HQ WHFQRORJtD (Q OD DFWXDOLGDG OD DFWL YLGDG DJUtFROD UHTXLHUH GH KHUUDPLHQWDV LQVXPRV FR QRFLPLHQWRV WHFQROyJLFRV SDUD VHU HILFLHQWHV /D DFD GHPLD WDPELpQ GHEH YHODU SRU VXPLQLVWUDU ORV PHMRUHV FRQRFLPLHQWRV GH SURGXF FLyQ HQ HO FDPSR $Vt PLVPR 9DUJDV DOH JD OD IDOWD GH FUpGLWR RSRU WXQR SDUD HO PHGLDQR \ SH TXHxR SURGXFWRU ³0iV GHO GH SDUTXH GH PDTXL QDULD HV REVROHWR VH HVWi WUDEDMDQGR FRQ HTXLSRV TXH WLHQHQ HQWUH \ DxRV QHFHVLWDPRV KDFHU XQ FDPELR GH OD PHFDQL]D FLyQ DJURSHFXDULD ³(O SDtV UHTXLHUH TXH HO SURGXFWRU WHQJD DFFHVR D XQ WUDFWRU GH EXHQD FDOL GDG DVt PLVPR HGXFDU VR EUH WRGRV ORV SURFHVRV DVR FLDGRV DO VHFWRU DJURSHFXD ULR´ DJUHJy 6RQ DPSOLDV ODV GLIH UHQFLDV HQWUH ODV IRUPDV GH WUDEDMR $OJXQDV SHUVR

$SFBS JODFOUJWPT RVF GBDJMJUFO MB BERVJTJDJÓO EF NBRVJOBSJB BHSÎDPMB QBSB MPT QSPEVDUPSFT EFM DBN QP FT MB QSPQVFTUB EFM SFDJÊO DPOTPMJEBEP HSFNJP EF FNQSFTBSJPT

-PT FNQSFTBSJPT EF NBRVJOBSJB BHSÎDPMB EFM QBÎT CVTDBO TVCTJEJPT QBSB MB DIBUBSSJ[BDJÓO QDV UHDOL]DQ VXV DFWLYLGD GHV GH IRUPD PDQXDO R FRQ WUDFFLyQ DQLPDO OR TXH HOHYD VXV FRVWRV GH SURGXFFLyQ /D PDTXLQD ULD DJUtFROD HV OD TXH SHU PLWH UHDOL]DU ODERUHV HQ HO FDPSR FRQ PHQRUHV FRVWRV \ GH IRUPD RSRUWXQD SDUD REWHQHU PD\RUHV UHQGL PLHQWRV TXH VH WUDGXFHQ HQ PD\RU XWLOLGDG /D PHFDQL]DFLyQ DJUtFR OD KD GHPRVWUDGR TXH HV XQR GH ORV IDFWRUHV TXH FRQWULEX\HQ D PHMRUDU OD SURGXFWLYLGDG \ FRPSHWLWL YLGDG GH ODV DFWLYLGDGHV HQ HO FDPSR ³/RV SURGXFWRV HQ HO FDPSR VH SXHGHQ SHUGHU FRQ HO XVR GH VHPEUDGRUDV \ IXPLJDGRUDV REVROHWDV TXH KDFHQ PiV GLItFLO HO WUD EDMR HQ HO FDPSR´ DxDGLy HO GLUHFWLYR GH ,QYDVD 0D TXLQDULD $GHPiV KDFH XQ OODPD GR DO *RELHUQR 1DFLRQDO VREUH OD LPSRUWDQFLD GH DSUHFLDU HO URO GH OD PDTXL QDULD DJUtFROD \D TXH SHU

PLWH KDFHU XQD DJULFXOWXUD SURGXFWLYD \ UHQWDEOH SHUR WDPELpQ KD\ TXH WRPDU HQ FXHQWD TXH HO SURGXFWRU SR VHHGRU GH PDTXLQDULD GHEH FDSDFLWDUVH HQ VX RSHUD FLyQ PDQWHQLPLHQWR \ DG

PLQLVWUDFLyQ SDUD ORJUDU XQ XVR DGHFXDGR 6HJ~Q OD 2UJDQL]DFLyQ GH ODV 1DFLRQHV 8QLGDV SDUD OD $OLPHQWDFLyQ \ $JULFXOWXUD )$2 HQ OD DJULFXOWXUD GHEHUi VXPL QLVWUDU DOLPHQWRV D PLOORQHV GH SHUVRQDV DGL FLRQDOHV HQ HO SODQHWD OR TXH LPSOLFD GREODU HO iUHD DJUtFROD PXQGLDO ORV SUy[L PRV DxRV 3DUD FRQWUL EXLU D GLFKR FUHFLPLHQWR QR HV VXILFLHQWH OD WLHUUD VH UH TXLHUH GH LQYHUVLyQ \ WHFQR ORJtD TXH OD KDJD PiV SUR GXFWLYD FRPSHWLWLYD (Q FXDQWR D ODV SURSXHV WDV TXH KDFH HO QXHYR JUH PLR DO 0LQLVWHULR GH $JUt FXOWXUD \D VH OOHYy D FDER OD SULPHUD UHXQLyQ GH OD PHVD GH WUDEDMR HQ GRQGH EXVFD XQ DFXHUGR GH YROXQWDGHV

&- %"50

.*- 53"$503&4

"1309*."%".&/5& &9*45&/ &/ &- 1"±4 &/ %0/%& -" .":03±" 40/ &26*104 0#40-&504 $0/ .¦4 %& "µ04

4JEB 4 "

5FM &YU

*CBHVÏ &TQJOBM /FJWB XXX TJEB TB DPN

5SBDUPSFT DPTFDIBEPSBT Z TFNCSBEPSBT .BTTFZ 'FSHVTPO &DPOPNÓB DBMJEBE Z SFTQBMEP

.ÈT EF B×PT BM TFSWJDJP EF MPT BHSJDVMUPSFT DPMPNCJBOPT


&41&$*"- 53"/41035& : ."26*/"3*" 13*.&3" 26*/$&/" 4&15*&.#3& %&

-PT BSBEPT JODSFNFOUBO TV Oร NFSP EF DVFSQPT DPNP JOOPWBDJร O

i1"3" "'30/5"3 -"4 .&+03"4 &/ -" 130%6$5*7*%"% $0/ "7"/$&4 5&$/0-ยถ(*$04 &4 /&$&4"3*0 26& &9*45"/ -ยฑ/&"4 %& $3ยญ%*504u '3"/$*4$0 &4561*ยบยซ/ )&3&%*" 1SFTJEFOUF EF #BODP "HSBSJP

-BT TPMVDJPOFT JOOPWBEPSBT EBO VO OVFWP BJSF BM TFDUPS

Tractogermana

(Q HO VHFWRU UXUDO GRQ GH HO WUDEDMR HV WDQ FRP SOHMR \ GXUR HV LPSUHVFLQ GLEOH TXH VXUMDQ QXHYDV H LQQRYDGRUDV KHUUDPLHQWDV TXH GH IRUPD UDGLFDO FRQ VLJDQ PHMRUDU DTXHOODV DF WLYLGDGHV GH SRFR UHQGL PLHQWR (V SRU HVWR TXH ODV FRPSDxtDV IDEULFDQWHV GH PDTXLQDULD DJUtFROD LQYHV WLJDQ FRQWLQXDPHQWH SDUD LPSOHPHQWDU PHMRUDV D ORV LQVWUXPHQWRV TXH \D H[LV WHQ &ODURV HMHPSORV VH SXH GHQ YHU UHIOHMDGRV HQ GLYHU VDV PDTXLQDV FRPR ODV PR GHUQDV FRVHFKDGRUDV TXH KDQ VDOLGR DO PHUFDGR ODV FXDOHV LQFRUSRUDQ XQ HQ JDQFKH GH UHPROTXH GHVWL QDGR XQR SDUD SRVLFLyQ GH WUDQVSRUWH \ RWUR SDUD WUD EDMR FX\R SURSyVLWR HV

RIUHFHU XQ PHMRU GLQDPLV PR GH XWLOL]DFLyQ /D HQIDUGDGRUD WDPELpQ HV XQ HOHPHQWR UHFXUUHQWH D OD KRUD GH HQFRQWUDU QXH YDV SUHVWDFLRQHV SXHV SHU PLWH PD\RUHV UHYROXFLRQHV SRU PLQXWR GXUDQWH VX XVR R OD LQFRUSRUDFLyQ GH XQ PD\RU Q~PHUR GH GLHQWHV $GHPiV GH HVWR KD\ RWUR WLSR GH LQQRYDFLRQHV TXH VH SRGUtDQ FRQVLGHUDU WUDQVYHUVDOHV \ TXH SRWHQ FLDQ ODV SUHVWDFLRQHV GH WRGD OD PDTXLQDULD HQ JH QHUDO &RQ HVWR VH SRGUtD HQWHQGHU SRU HMHPSOR ORV VLVWHPDV KLGUiXOLFRV TXH VH KDQ SRGLGR DGDSWDU D WRGRV ORV QLYHOHV WDQWR HQ DUDGRV FRPR HQ VHJDGRUDV (VWH VLVWHPD GH ERPEHR GH PD WHULDOHV OtTXLGRV WUDEDMD PHGLDQWH GLYHUVRV HQJUDQD

MHV TXH D\XGDQ VREUH WRGR D OD QHFHVLGDG GH PHQRUHV HVIXHU]RV ItVLFRV SRU SDUWH GH ORV WUDEDMDGRUHV 8QR GH ORV LQVWUXPHQWRV PiV FRPXQHV \ WtSLFRV GHO VHFWRU UXUDO FRPR HV HO DUD GR D OR ODUJR GH ORV DxRV KD VXIULGR JUDQGHV FDPELRV SULQFLSDOPHQWH HQ FXDQWR DO Q~PHUR GH FXHUSRV FRQ ORV TXH FXHQWD (Q XQ SULQ FLSLR VH XVDED FRQ XQ FXHU SR HQ OD DFWXDOLGDG VH SXH GHQ HQFRQWUDU HTXLSRV TXH OOHJDQ KDVWD ORV FXHUSRV HQ WRWDO &RQ WRGR HVWR ORV H[SHU WRV HQ PDTXLQDULD DJUtFROD VXHOHQ FRLQFLGLU HQ TXH VRQ YDULDV ODV SUHPLVDV TXH KD\ TXH WHQHU HQ FXHQWD D OD KRUD GH FUHDU HTXLSRV LQQR YDGRUHV \ TXH VHDQ UHDO PHQWH LQWHUHVDQWHV SDUD HO

13&$*0 %& $0.10/&/5&4 0#+&5*70 %&- 4&$503 $PNP PDVSSF FO UPEPT MPT TFHNFOUPT QSPEVDUJWPT FM TFDUPS BHSร DPMB UJFOF DPNP UBSFB QFOEJFOUF FM DPOTFHVJS DPNQPOFOUFT RVF OP SFTVMUFO UBO DPTUPTPT Z BZVEF B MPT BHSJDVMUPSFT B JODSFNFOUBS TVT JOHSFTPT VUJMJUBSJPT $PNP FT Mร HJDP MB NBRVJOBSJB BHSร DPMB TF DBSBDUFSJ[B QPS TFS EF NBUFSJBMFT EVSPT Z GVFSUFT DPNP FM IJFSSP RVF QFSNJUBO VOB NBZPS EVSBCJMJEBE "ร O BTร TPO WBSJBT MBT NBSDBT RVF DFOUSBO QBSUF EF TVT JOWFTUJHBDJPOFT FO JODPSQPSBS QBSUFT EF MPT FRVJQPT IFDIPT DPO BMFBDJPOFT Nร T FDPOร NJDBT *ODMVTP PUSPT NBUFSJBMFT DPNP FM QMร TUJDP TF FTUร O FNQF[BOEP B JODMVJS FO TJTUFNBT DPNP FM BSBEP RVF BEFNร T EF SFEVDJS DPOTJEFSBCMFNFOUF MPT DPTUPT EF DPNQSB BM TFS Nร T NBOFKBCMF Z QSFDJTP QVFEF DPOTFHVJS JODMVTP NFKPSFT SFTVMUBEPT RVF MPT USBEJDJPOBMFT DJULFXOWRU (VWDV VHUtDQ SULQFLSDOPHQWH WUHV WLHQHQ TXH VHU LQVWUXPHQWRV DGDS WDEOHV GH ODUJD GXUDFLyQ \ D OD YH] GH IiFLO LQVWDODFLyQ 3HUR QR WRGD OD LQQRYD FLyQ VH FHQWUD HQ LQVWUX PHQWRV LQGHSHQGLHQWHV \D TXH H[LVWHQ PXFKDV PHMR

i1"3" -04 &.13&4"3*04 %&- 4&$503 "(3ยฑ$0-" &4 .6: */5&3&4"/5& %*410/&3 %& &26*104 *//07"%03&4 26& /04 ":6%&/ " 3&%6$*3 -04 $04504 &/ &- /&(0$*0u "/%3&4 ยซ/(&- "ENJOJTUSBEPS EF FNQSFTBT BHSPQFDVBSJBT

&- %"50

$6&3104 16&%& --&("3 " 5&/&3 -04 /6&704 &26*104 %& "3"%0 26& -"4 ."3$"4 $0.&3$*"-*;"/ "$56"-.&/5&

UDV TXH WUDWDQ GH SRWHQFLDU ODV SUHVWDFLRQHV GHO PLVPR WUDFWRU (QWUH HVWRV HVWD UtDQ ORV VLVWHPDV LQWHJUD GRV WUHQHV GH URGDMH R WUH QHV GH IXHU]D TXH SXHGHQ OOHJDU D FRQYHUWLU XQ YHKt FXOR HQ XQD PiTXLQD PiV SRWHQWH \ YHUViWLO

Agricultura de Precisiรณn GPS

Sistema de Banderillero Satelital y Mapeador con pantalla Tรกctil de 5.5 pulgadas.

Tractores desde $35 M


&41&$*"- 53"/41035& : ."26*/"3*" 13*.&3" 26*/$&/" 4&15*&.#3& %&

/VFWPT FRVJQPT NÈT BNJHBCMFT DPO FM NFEJP BNCJFOUF &RORPELD SUHVHQWD HQ OD DFWXDOLGDG XQ HVFHQDULR FRPSOLFDGR HQ OD LQGXVWULD DJUtFROD TXH QR HV RWUR TXH HO HOHYDGR FRVWR GH ORV FDU EXUDQWHV /D LPSRUWDQFLD GH HVWD DFWLYLGDG KDFH TXH XQR GH ORV SULQFLSDOHV UHWRV GH OD DJULFXOWXUD VHD LQWHQ WDU EXVFDU QXHYD PDTXLQD ULD FDGD YH] PiV DPLJDEOH FRQ HO PHGLR DPELHQWH TXH SURSRUFLRQH XQ PHQRU JDV WR GH FRPEXVWLEOH /D PDTXLQDULD FRQ OD TXH FXHQWD &RORPELD WLHQH VX RULJHQ HQ 0p[LFR \ %UDVLO \ WLHQHQ HO SUREOHPD GHO DOWR JDVWR HQ FDUEXUDQWHV (Q HVWH VHQWLGR VL FRPSDUDPRV HVWRV HTXLSRV FRQ ORV IDEUL FDGRV HQ SDtVHV HXURSHRV FRPR $OHPDQLD R ,WDOLD GRQGH HO PHUFDGR H[LJH PD \RU HIHFWLYLGDG HQ FXDQWR D FRVWRV \ DOWDV UHVWULFFLRQHV HQ HO QLYHO GH FRQWDPLQD FLyQ VH SRGUtD WUDGXFLU XQ DKRUUR DSUR[LPDGR GHO

-PT GBCSJDBOUFT TF FTUÃO QSFPDVQBOEP QPS IBDFS NPUPSFT NÃT TPTUFOJCMFT

i)0: &/ %±" 50%0 4& .*%& 103 $0.1&5*5*7*%"% 50%0 1&40 26& 4& 16&%" ")033"3 &/ */46.04 $0/ -" "1-*$"$*¶/ %& 130$&404 .&$"/*;"%04 &4 #*&/7&/*%0u -6*4 '&3/"/%0 -*."4 +FGF OBDJPOBM EF NFDBOJ[BDJØO EF $BTB 5PSP

$Vt SXHV VL XQ DJULFXOWRU JDVWD HQ SURPHGLR XQRV GLDULRV HQ JDVROL QD FRQ REVROHWRV HTXLSRV GH DOWR JDVWR HVi GHMDQGR GH DKRUUDU XQRV SRU MRUQDGD OR TXH VXSRQH XQD JUDQ GLIHUHQFLD 5DIDHO &DUYDMDO JHUHQWH GH 7UDFWRJHUPDQD H[SOLFy TXH GLFKR DKRUUR VH FDOFXOD SRU HO WLSR GH PRWRU TXH WUDH LQFRUSRUDGR XQ WUDFWRU GHSHQGLHQGR GH VX RULJHQ 3RU HMHPSOR ³ORV GH IDEUL FDFLyQ DOHPDQD VRQ ORV TXH PHQRV FRQVXPHQ GLHVHO ,QFOXVR HVWiQ SRU GHEDMR GHO HQ FRPSDUDFLyQ FRQ RWURV WUDFWRUHV GHO PHU FDGR \ WRGRV FRPSDWLEOHV FRQ ELRGLHVHO´

&- %"50

103 $*&/50 3&%6$$*»/

26& 4& 16&%& $0/4&(6*3 "- 65*-*;"3 &26*104 4045&/*#-&4 $0/ &- .&%*0 ".#*&/5&

3RU VX SDUWH ,VDXUR 0XU FLD &DUYDMDO JHUHQWH GH 0R WRYDOOH &DOL FRQ XQD YLVLyQ PX\ RSWLPLVWD DVHJXUy TXH ³KR\ HQ GtD WRGDV ODV PDUFDV DGHPiV GH ODV XWLOLGDGHV VH HVWiQ SUHRFXSDQGR SRU FUHDU PRWRUHV TXH LPSDFWHQ OR PHQRV SRVLEOH HO PHGLR DP ELHQWH \ TXH VH DGDSWHQ D ODV QRUPDV (XUR \

{$0-0.#*" 4& 13&0$61" 103 -" 3&(6-"$*»/ 5BM DPNP BTFHVSBSPO MPT FYQFSUPT EFM TFDUPS FM HPCJFSOP DPMPN CJBOP FTUÈ IBDJFOEP HSBOEFT FTGVFS[PT QPS BEBQBUBSTF B MBT OPS NBT EF SFHVMBDJØO Z NFOPT DPOUBNJOBDJØO A&VSP MP DVBM TF DPOWJFSUF FO VO GBDUPS NVZ JNQPSUBOUF FO MB CÞTRVFEB EF FTB OVFWB NBRVJOBSJB NÈT BNJHBCMF DPO FM NFEJP BNCJFOUF &O FTUF TFOUJEP TJ FM QBÓT TVTDSJCF SFHVMBDJPOFT DPNP MBT &VSP Z MPT NJTNPT QSPEVDUPSFT EF NBRVJOBSJB CJFO TFB NFYJDBOPT P CSBTJMF×PT UFOESÓBO RVF BEBQUBSTF B FTUF DBNCJP TJ RVJFSFO TFHVJS UFOJFOEP FM NFSDBEP EF FYQPSUBDJØO QBSB FM QBÓT


&41&$*"- 53"/41035& : ."26*/"3*" 13*.&3" 26*/$&/" 4&15*&.#3& %&

&M "#$ EFM TFHVSP EF USBOTQPSUFT /RV SURGXFWRUHV KDFHQ JUDQGHV HVIXHU]RV HFRQyPL FRV \ DFFHGHQ D FUpGLWRV SDUD DGTXLULU VXV PDTXLQD ULDV DJUtFRODV EDMR HO VX SXHVWR GH TXH HVWH WLSR GH 1BSB FM FYWJDFNJOJTUSP EF LQYHUVLRQHV DXPHQWDUi ORV "HSJDVMUVSB -VJT 7JDFOUF QLYHOHV GH SURGXFWLYLGDG \ 5ÈNBSB MB VCJDBDJØO HFPHSÈ FRPSHWLWLYLGDG 3RU OR TXH GJDB EFM QBÓT FT VOB WFOUBKB DPNQBSBUJWB "EFNÈT VO UHVXOWD PX\ LPSRUWDQWH FR QSJWJMFHJP FO DVBOUP B DPOEJ QRFHU FXiO HV HO SURFHVR DJPOFT BHSPFDPMØHJDBT SDUD DVHJXUDU HVWRV YHKtFX IJESPMØHJDBT Z EJWFSTJEBE FO ORV DGHPiV GH ODV YHQWDMDV HFOFSBM RVF QVFEFO USBOT GPSNBSTF FO VOB GPSUBMF[B GH KDFHUOR DPNQFUJUJWB 1PS MP UBOUP FT $ /D JDUDQWtD GH WHQHU NVZ JNQPSUBOUF RVF MPT QSP VX PDTXLQDULD DVHJXUDGD EVDUPSFT EFTBSSPMMFO QSPDF $ WUDYpV GH XQ VHJXUR REOL TPT JNQMFNFOUBOEP NÈT UFD JDWRULR GH FLUFXODFLyQ VH OPMPHÓB FO MP RVF TF JODMVZF JDUDQWL]D KDVWD OD FXDQWtD FM VTP EF NBRVJOBSJBT QBSB BDFMFSBS TV QSPEVDDJØO GHO DVHJXUDPLHQWR REOLJD NFKPSBOEP MPT UJFNQPT WRULR OD UHVSRQVDELOLGDG FL i*NQMFNFOUBOEP F JOWJSUJFO YLO GHO FRQGXFWRU FRQ PRWL EP FO VOB BEFDVBEB UFDOP YR GH OD FLUFXODFLyQ GHO MPHÓB TF QPESÈ QSPEVDJS DPN QFUJUJWBNFOUF -P JNQPSUBO YHKtFXOR DVHJXUDGR UF FT TFS FGJDBDFT FT EFDJS (Q HO PHUFDGR VH HQ IBDFS CJFO DBEB EÓB NFKPS FXHQWUDQ FRPSDxtDV TXH MP RVF EFDJEBO FNQSFOEFS RIUHFHQ FREHUWXUDV GH VHJX DPNP OFHPDJPw FYQMJDØ -VJT URV SDUD WUDFWRUHV \ PDTXL 7JDFOUF 5ÈNBSB QDULD DJUtFROD FRQ RWURV FRPSRQHQWHV DGLFLRQDOHV $GLFLRQDOPHQWH ODV HP FRPR FREHUWXUD HQ FLUFXOD SUHVDV RIUHFHQ XQ VHUYLFLR FLyQ LQFOXVR HO UHPROTXH GH VHJXURV SDUD H[SRUWDFLR VLQ LQFUHPHQWR GH SUHFLR QHV DJUtFRODV \ JDQDGHUDV % &XEULPLHQWR SRU GD OR FXDO VH FRQYLHUWH HQ XQD xRV D WHUFHURV &RQWDU FRQ VROXFLyQ TXH UHVSRQGH D WR XQ VHJXUR SDUD VX PDTXL GDV ODV QHFHVLGDGHV GHULYD QDULD OH GD XQD WUDQTXLOL GDV GH HVWD DFWLYLGDG GDG HQ FDVR GH RFDVLRQDU & /R LPSRUWDQWH HV SUR GDxRV D WHUFHURV URERV R WHJHU OD KHUUDPLHQWD GH WUD LQFHQGLRV EDMR 0XFKDV GH ODV SyOL]DV (Q HVWH SXQWR VH FRQR GH VHJXUR TXH VH RIUHFHQ HQ FHQ ORV VHJXURV SDUD UHPRO HO PHUFDGR FXEUHQ GDxRV FDGRUHV \ FRVHFKDGRUDV FRQ VXIULGRV FRPR FRQVHFXHQ JDUDQWtD SDUD WRGR WLSR GH FLD GH XQ DFFLGHQWH VREUH ULHVJR GDxRV D WHUFHURV LQ YHQLGR GXUDQWH HO GHVDUUR FHQGLRV X RWUDV FDXVDV TXH OOR GH ODV ODERUHV DJUtFRODV SXHGDQ DIHFWDU HO HTXLSR LQKHUHQWHV D OD QRUPDO DFWL

."26*/"3*" *.16-4" -" 130%6$$*»/

'H DFXHUGR DO SODQ \ D OD FRPSDxtD DVHJXUDGRUD TXH HVFRMD HQFRQWUDUi GLVWLQWDV JDUDQWtDV DGLFLRQDOHV D ODV EiVLFDV 3RU HMHPSOR HVWiQ ODV TXH DVHJXUDQ FLHUWRV GDxRV FRPR ORV FDXVDGRV SRU DFWRV GH YDQGDOLVPR

"8 8 8 8 !8 8 88 8

/>*,*$-9/8A8 -*2=+ *0-8#$8 9$4* +

i&/5*%"%&4 '*/"/$*&3"4 $0.0 '*/"(30 $6&/5"/ $0/ 6/" ("." %& $3­%*504 1"3" "10:"3 -"4 */7&34*0/&4 %& 130%6$503&4 &/ -"4 26& 4& */$-6:&/ ."26*/"3*"4 : &26*104u

YLGDG GH OD PDTXLQDULD DVH JXUDGD 7DPELpQ VH FXEUHQ GD xRV TXH KD\DQ VLGR FRQVH FXHQFLD GH XQ DFFLGHQWH GH FLUFXODFLyQ LQFOXVR HQ YtDV R WHUUHQRV QR GHVWLQDGRV HVSHFtILFDPHQWH SDUD HOOR ("3"/5¶"4 "%*$*0/"-&4

$POPDFS DVÃMFT TPO MBT HBSBOUÎBT RVF PGSFDF TV QÓMJ[B EF TFHVSP MF CSJOEBSÃ NBZPS USBORVJMJEBE FO MB BDUJWJEBE

-6*4 7*$&/5& 5«."3" &Y WJDFNJOJTUSP EF "HSJDVMUVSB

i&- 640 %& ."26*/"3*"4 &/ -"4 ;0/"4 %& 130%6$$*¶/ &4 6/" "-5&3/"5*7" 26& "6.&/5" -" 3&/5"#*-*%"% "$56"-.&/5& &9*45&/ 46#4*%*04 : ":6%"4 1"3" 46 "%26*4*$*¶/u +&4Á4 ;"1"5" $PPSEJOBEPS 'FEFHBO 4VDSF Z #PMÓWBS

7DPELpQ HVWiQ ORV FDXVD GRV SRU IHQyPHQRV QDWXUD OHV FRPR OOXYLDV JUDQL]R IXHUWHV YLHQWRV R LQXQGD FLRQHV (Q FDVRV GH URER ODV DVH JXUDGRUDV HQ OD PD\RUtD GH ODV VLWXDFLRQHV HVWXGLDQ HQ TXH HVWDGR TXHGy OD PiTXL QD SDUD SRGHU GHWHUPLQDU HO PRQWR TXH SDJDUi HO VH JXUR \ DVt GHILQLU VL VHUi SDUFLDO R WRWDO (V LPSRUWDQWH TXH VH GHILQD FXiO VHUi HO YDORU WR WDO FRQYHQLGR FRQ OD DVHJX UDGRUD GH DFXHUGR D HVH YDORU OD HPSUHVD SDJDUi ORV

S

GDxRV R HO VHUYLFLR TXH VH UHTXLHUD HQ GHWHUPLQDGD VL WXDFLyQ /RV SURGXFWRUHV GHEHQ WHQHU FODUR TXH DO DGTXLULU PDTXLQDULD VH OOHYD D FDER XQD LQYHUVLyQ OR TXH VH FRQYLHUWH HQ OD SULQFLSDO UD]yQ SDUD EXVFDUOH XQD JDUDQWtD D HVWD LPSRUWDQWH KHUUDPLHQWD GH WUDEDMR 'H DKt OD LPSRUWDQFLD D SUHYHU FXDOTXLHU ULHVJR GH OD DFWLYLGDG DGHPiV GH XQ HMHUFLFLR UHVSRQVDEOH GH OD PLVPD TXH LPSOLFD HVWDU SUHSDUDGRV SDUD UHVSRQ GHU DQWH XQD HYHQWXDOLGDG

MOTOBOMBAS

&- %"50

)03"4 %& "5&/$*»/

1"3" 4*/*&45304 0 $"404 %& &.&3(&/$*" 0'3&$&/ 7"3*"4 $0.1"µ±"4 "4&(63"%03"4 %& 7&)±$6-04

LORENTZ

CON PANELES SOLARES

AGUAS DEL SOL

8 8 ) ) ) ) ) ) ) ) ) 8)8 8)8 8)8 8)8 8)8 8)8 8)8 8)8 8)8

44$4 1<' /3 16 ) %1 ! '1&:.': @! <.%7%7& ???3*- ,$ 3 /, $), *+! >$-9 5 *- ,$ 3 /, /(/9 " 3 3 /+/, *

VENTAJAS DEL USO t "DFSP JOPYJEBCMF NPUPS USJGÈTJDP t /P QPTFF QBSUFT FMÏDUSJDBT Z FMFDUSØOJDBT FO TV NPUPS TVNFSHJCMF t .PUPS RVF TF SFGSJHFSB Z TF MVCSJDB DPO MB NJTNB BHVB DPO RVF USBCBKB 7JEB ÞUJM B B×PT t &T NBT Fm DJFOUF Z FDPOØNJDP BMNBDFOBS BHVB RVF BMNBDFOBS FOFSHÓB FO VOB CBUFSÓB t 4PO TJTUFNBT RVF OP SFRVJFSFO NBOP EF PCSB QBSB PQFSBS t .VZ CBKP NBOUFOJNJFOUP QPSRVF MBT QBSUFT NØWJMFT TPO NVZ QPDBT t 'ÈDJM JOTUBMBDJØO t -BSHB WJEB ÞUJM DPO HBSBOUÓB EF B×PT QBSB MPT QBOFMFT TPMBSFT Z EF EPT B×PT QBSB MBT CPNCBT

Representante de Lorentz para Colombia

Carlos Mario Mejía Velásquez carlosmejia@lorentzcolombia.com – Tel/Fax: 57-4-3138834 Cel: 57-3-3155046121 Medellín – Colombia

WWW.LORENTZCOLOMBIA.COM WWW.ELAGUADELSOL.COM.CO


&41&$*"- 53"/41035& : ."26*/"3*" 13*.&3" 26*/$&/" 4&15*&.#3& %&

GRUPO

Principal: Cra 27 # 15 - 98 Tel/fax: 3605848/9 - 3606648 - 6138005 - 2260874 Sucursales: Cra 25 # 15 - 07 Tel/fax: 2479513 - 2015886 - 2776989 Ingeniería y Servicio Técnico: 3604917 - 2772015 www.avimingenieria.com

Ingeniería y Equipos Soluciones y Servicios International

Maquinaria para el sector agrícola y ganadero. Líderes en ensamble y diseño con las mejores marcas en calidad y servicio. Motores estacionarios - Plantas eléctricas - Guadañadoras - Motobombas - Picadoras - Cosechadoras - Repuestos

0QPSUVOJEBEFT EF DSÏEJUP QBSB NBRVJOBSJB QFTBEB Z USBOTQPSUF (O QHJRFLR GH OD PDTXL QDULD DJUtFROD HVWi FUHFLHQ GR HQ HO SDtV DWHQGLHQGR OD QHFHVLGDG GH WHFQLILFDU ORV SURFHVRV HQ HO VHFWRU \ GH VDUUROODQGR QXHYDV iUHDV GH FXOWLYRV 3DUD HOOR HV LQGLVSHQVD EOH TXH ODV HQWLGDGHV ILQDQ FLHUDV SURSRUFLRQHQ IDFLOL GDGHV SDUD DGTXLULU PiTXL QDV TXH VLUYDQ SDUD PHMR UDU ORV SURFHVRV HQ HO FDP SR GH WDO PDQHUD TXH HO SDtV SXHGD FRPSHWLU FRQ %UDVLO $UJHQWLQD \ 0p[LFR TXH OOHYDQ DPSOLD YHQWDMD HQ HVWH WHPD 'H DFXHUGR FRQ /XLV (GXDUGR *yPH] SUHVLGHQ WH GH )LQDJUR ³ LQGLVFXWL EOHPHQWH XQ HOHPHQWR GH FRPSHWLWLYLGDG VRQ ORV HTXLSRV \ WRGR OR TXH WLHQH TXH YHU FRQ PDTXLQDULD (Q OD DFWXDOLGDG H[LVWHQ WLSRV GH FUpGLWR TXH RWRUJDQ KDV WD RFKR DxRV GH SOD]R FRQ SHULRGRV GH JUDFLD TXH SXH GHQ VHU OLEUHPHQWH SDFWD GRV DVt FRPR OD DPRUWL]D FLyQ FRQ ORV LQWHUPHGLDULRV ILQDQFLHURV´ GLFH (Q HO FDVR GH %DQFRORP (Q WDO VHQWLGR VH DEUH ELD OD HQWLGDG RWRUJD SOD XQ HVSDFLR HQ OR TXH WLHQH ]RV \ SHULRGRV GH JUDFLD TXH YHU FRQ SURJUDPDV GH DFRUGH FRQ HO IOXMR GH FDMD FRQYHUVLyQ SDUD OD FRPSHWL GHO SUR\HFWR ILQDQFLDGR &EHBS 7JMMBNJM EF $BTBUPSP BTFHVSØ RVF FOUSF MBT WFOUBKBT RVF QSPQPSDJPOB MB UFDOPMPHÓB FO FM BHSP FTUÈ FM WLYLGDG \ GH EXVFDU XQRV 3DUD WUDQVSRUWH HVSHFLDOL]D NFKPSBNJFOUP EF MB QSPEVDUJWJEBE EPOEF TF QFSGFDDJPOBO SOD]RV TXH SXHGDQ VHU VX GR KDVWD PHVHV \ SDUD DBEB VOP EF MPT QSPDFTPT EFTBSSPMMBEPT EVSBOUF MPT DJDMPT SHULRUHV ³(Q HO FDVR GH )L FRPSUD GH PDTXLQDULD QSPEVDUJWPT "EJDJPOBMNFOUF QFSNJUF VOB NFKPS QSFQBSBDJØO EF TVFMPT TJFNCSB NBOUFOJNJFOUP Z DPTFDIB PCUFOJFOEP QDJUR VH WLHQH WRGD OD GLV DJUtFROD KDVWD PHVHV SRVLFLyQ GH TXH DVt VHD (Q HVWD PLVPD OtQHD HO WFOUBKBT FO SFEVDDJØO EF DPTUPT "TÓ NJTNP MPHSB VOB EJTNJOVDJØO EF DPOTVNPT EF DPNCVTUJCMF Z EF MPT UJFNQPT SXHV HV PX\ GLItFLO SDJDU %DQFR GH %RJRWi HQ DOLDQ EFEJDBEPT B SFBMJ[BS DBEB BDUJWJEBE QVFT VTBOEP FTUPT XQD UHFRQYHUVLyQ D FRUWR ]D FRQ )LQDJUR PDQHMD GRV NFEJPT TF MPHSBO TJFNCSBT NÈT IPNPHÏOFBT DPO NFKPSFT SOD]R SRU HVR VH HVWi HYD OtQHDV HVSHFLDOHV GH FUpGLWR DPOUSPMFT FO MB BQMJDBDJØO EF BHSPRVÓNJDPT OXDQGR OD SRVLELOLGDG GH H[ FRQ HO ILQ GH DWHQGHU WDQWR WHQGHUORV´ DJUHJy *yPH] D SHUVRQDV QDWXUDOHV FRPR WR DVt FRPR DMXVWDU ORV SOD &- %"50 ([LVWHQ GLIHUHQWHV HQWL MXUtGLFDV TXH GHVDUUROODQ ]RV \ FRQGLFLRQHV D D VX FD GDGHV ILQDQFLHUDV WDQWR GHO DFWLYLGDGHV HQ ODV GLIHUHQ SDFLGDG GH SDJR PHQVXDO VHFWRU S~EOLFR FRPR GH OD WHV IDVHV GHO SURFHVR GH (O FUpGLWR GH WLSR RUGL EDQFD HQ JHQHUDO TXH RIUH SURGXFFLyQ \ FRPHUFLDOL]D QDULR GH )LQDJUR SXHGH YH FHQ GLYHUVRV SURJUDPDV GH FLyQ GH ELHQHV GHO VHFWRU QLU DFRPSDxDGR GH ,QFHQWL .&4&4 ILQDQFLDFLyQ SDUD OD DGTXL /RV FOLHQWHV SRGUiQ RE YRV GH &DSLWDOL]DFLyQ 5XUDO &- 1-";0 VLFLyQ GH HVWD PDTXLQDULD WHQHU UHFXUVRV FRQ WDVDV ,&5 RWRUJDGRV SRU HO *R 26& 0'3&$& &- 3RU HMHPSOR HO %DQFR SUHIHUHQFLDOHV DVt FRPR ELHUQR HO FXDO GHSHQGHUi #"/$0 $0-1"53*" &ROSDWULD RIUHFH ILQDQFLD SOD]RV \ SHULRGRV GH JUDFLD GHO WLSR GH SURGXFWRU PD &/ 464 -±/&"4 %& $3­%*50 1"3" FLyQ SDUD PDTXLQDULD DJUt DMXVWiQGRVH DO IOXMR GH FDMD TXLQDULD \ GHO FXSR HVWDEOH $0.13"3 ."26*/"4 FROD D WUDYpV GH OD OtQHD GH GHO SUR\HFWR D ILQDQFLDU FLGR SRU HO JRELHUQR SDUD HO FUpGLWR /HDVLQJ 0DTXLQDULD 'HQWUR GHO SRUWDIROLR GH LQFHQWLYR \ (TXLSR SDUD HTXLSRV SURGXFWRV GH OD HQWLGDG IL (Q FXDQWR DO WUDQVSRUWH FRPR VHPEUDGRUDV FXOWLYD QDQFLHUD ODV SHUVRQDV SXH OD HQWLGDG EULQGD XQ OHD GRUDV FRVHFKDGRUDV WUDF GHQ DFFHGHU D GLIHUHQWHV WL VLQJ GH YHKtFXORV SDUD OD WRUHV YROTXHWDV HQWUH RWUDV SRV GH FUpGLWR HQWUH HOORV PRGDOLGDG GH FDUJD SHVDGD (O SUpVWDPR HV SRVLEOH HO )LQDJUR /HDVLQJ HQ GRQ HQ GRQGH VH SRGUiQ DGTXL KDVWD HQ XQ FRQ XQ GH HO EHQHILFLDULR SRGUi ULU FRQ ILQDQFLDFLyQ KDVWD HO SOD]R GH SDJR GH KDVWD REWHQHU ODV ERQGDGHV WULEX GHO YDORU FRPHUFLDO PHVHV WDULDV TXH RIUHFH HO SURGXF GHO YHKtFXOR

"%01$*»/ %& 5&$/0-0(¶" "6.&/5" 130%6$5*7*%"%

-BT FOUJEBEFT GJOBODJFSBT PGSFDFSO WBSJFEBE EF PQDJPOFT QBSB DSÊEJUPT

i4& %&#&/ ".1-*"3 -04 3&$63404 1"3" 4&(6*3 130.07*&/%0 -" .&$"/*;"$*¶/ : &- (0#*&3/0 %&#& $3&"3 */$&/5*704 1"3" -" "%26*4*$*¶/ %& ."26*/"3*" /6&7"u $²4"3 1"3%0 &YQSFTJEFOUF EF 'JOBHSP


53"#"+0 %& $".10 13*.&3" 26*/$&/" 4&15*&.#3& %&

4F SFBDUJWB MB QSPEVDDJØO EF DIPOUBEVSP /D UHDFWLYDFLyQ GHO FXO WLYR GH FKRQWDGXUR HV XQ KHFKR WUDV ODV UHXQLRQHV GH FDSDFLWDFLyQ TXH HO ,QV WLWXWR &RORPELDQR $JUR SHFXDULR ,&$ LPSDUWLy FRQ ORV FXOWLYDGRUHV GH ODV GLIHUHQWHV ]RQDV SURGXFWR UDV GH &KRFy \ 5LVDUDOGD $JUyQRPRV GHO ,QVWLWX WR SUHVHQWDURQ ORV GLIHUHQ WHV WLSRV GH FRQWUROHV TXH VH LPSOHPHQWDUiQ \ HO RE MHWLYR GH ORV PLVPRV SDUD TXH GH PDQHUD FRQMXQWD VH SRQJD HQ SUiFWLFD ORV GLIH UHQWHV PpWRGRV SDUD XQD ySWLPD SURGXFFLyQ *HUPiQ $OEHUWR 7DUD ]RQD 3DUUD OtGHU QDFLRQDO GHO SUR\HFWR FKRQWDGXUR GHO ,&$ H[SUHVy TXH VH YLHQH DGHODQWDQGR XQ WUD EDMR H[WHQVLYR HQ 3XHEOR 5LFR \ 0LVWUDWy 5LVDUDOGD \ HQ ORV PXQLFLSLRV FKR FRDQRV GH 1RYLWD 5tR ,Uy \ 6DQ -RVp GHO 3DOPDU GRQGH OD DIHFWDFLyQ GHO SL FXGR QHJUR UK\QFKRSKR UXV SDOPDUXP \ HO GHVJUD QDGRU GHO FKRQWDGXUR GH QRPLQDGR PHWKDPDVLXV KHPtSWKHUXV LQVHFWR TXH HV SODJD HQ HO SOiWDQR

GHVWUX\HURQ JUDQ FDQWLGDG GH SDOPDV SURGXFWLYDV \ DUUXLQDURQ OD FRVHFKD RFDVLRQDQGR XQ SUREOHPD VRFLDO PX\ VHYHUR SXHV HQ SREODFLRQHV FRPR 6DQ -RVp GHO 3DOPDU OD HFRQR PtD GH VXV SREODGRUHV GH SHQGH GH HVWH IUXWR HQ XQ 7DUD]RQD H[SOLFy TXH GHELGR D HVWD VLWXDFLyQ \ D OD VROLFLWXG GH DSR\R SRU SDUWH GH ORV DOFDOGHV PX QLFLSDOHV HO ,&$ UHDOL]y XQD VHULH GH FRQWUROHV ILWR VDQLWDULRV LQWHJUDGRV ORV FXDOHV GHVSXpV GH XQ DxR GH WUDEDMR FRQWLQXR HQ DVRFLR FRQ ODV FRPXQLGD GHV KDQ WUDtGR FRPR FRQ VHFXHQFLD OD UHDFWLYDFLyQ GH OD FRVHFKD GH FKRQWD GXUR 1R REVWDQWH ODV SUR GXFFLRQHV DFWXDOHV QR VRQ LJXDOHV D ODV TXH DQWHULRU PHQWH VH FRVHFKDEDQ SHUR HV XQ SULPHU SDVR KDFLD HVH REMHWLYR GH UHFXSHUD FLyQ DJUtFROD GHO VHFWRU (O OtGHU GHO SUR\HFWR DVH JXUy TXH WDPELpQ VH WLHQH SUR\HFWDGR HMHFXWDU HQ HO 9DOOH GHO &DXFD FRQ FRQ

i&- $6*%"%0 &/ -04 46&-04 %& $)0/5"%630 &4 &- .*4.0 26& 4& %&#& 5&/&3 $0/ $6"-26*&3 46&-0 %& 5010(3"'±" 1&/%*&/5&u (&3."/ "-#&350 5"3";0/" 1"33" -ÓEFS OBDJPOBM EFM QSPZFDUP DIPOUBEVSP EFM *$"

&- %"50

;0/"4 %&- 1"¶4

$0.0 $)0$¶ : 3*4"3"-%" )" 3&$*#*%0 "10:0 " 130:&$504 130%6$5*704 103 &- .*/"(3*$6-563"

$BVDB FT FM NBZPS QSPEVDUPS EF DIPOUBEVSP FO FM QBÎT

&- $)0/5"%630 3&26*&3& %& */7&34*»/ : $6*%"%0

WUROHV ILWRVDQLWDULRV HQ OD ]RQD UXUDO GH %XHQDYHQWXUD \ OD HUUDGLFDFLyQ GH SDOPDV GH FKRQWDGXUR LP SURGXFWLYDV \ TXH HVWiQ VLHQGR IRFRV GH HVWDGRV LQPDGXURV GH LQVHFWRV \ SODJDV

$PO MPT QSPZFDUPT EF PMB JOWFSOBM EFM *$" Z DPO FM BQPZP EFM QSP HSBNB EFM .JOJTUFSJP EF "HSJDVMUVSB Z %FTBSSPMMP 3VSBM B USBWÏT EF $PMPNCJB )VNBOJUBSJB TF IB JOWFSUJEP VO UPUBM EF NJMMPOFT FO $IPDØ Z NJMMPOFT FO 3JTBSBMEB " TV WF[ FTUPT DVMUJWPT TF FODVFOUSB TFNCSBEPT FO QMFOB DPSEJMMFSB DPO QFOEJFOUFT GVFSUFT MP RVF IBDF OFDFTBSJP SFBMJ[BS BDUJWJEBEFT EF DVMUJWP RVF FWJUFO MB FSPTJØO SFBMJ[BS EFTZFSCBT P DPOUSPMFT EF BSWFOTFT DPO HVBEB×B P NBDIFUF EF UBM NBOFSB RVF OP TF VUJMJ DF B[BEØO QBSB FWJUBS FM BSSBTUSF EF NBUFSJBM EFM TVFMP "EFNÈT EF JNQMFNFOUBS VO QSPHSBNB EF GFSUJMJ[BDJØO

y$¶.0 )"$&3-0 4VTDSÎCBTF EVSBOUF BÒP B OVFTUSP DPNQMFUP TJTUFNB EF JOGPSNBDJÓO Z SFDJCB FO MB DPNPEJEBE EF TV IPHBS V PñDJOB FM NFKPS DPOUFOJEP EF -3 MF &OUSFHB B EJBSJP MB BDUVBMJEBE FDPOÓNJDB QBSB FTUBS TJFNQSF VO QBTP BEFMBOUF FO MPT OFHPDJPT

%JBSJBNFOUF DJSDVMB DPO -B 3FQÙCMJDB CSJOEBOEPMF UPEB MB JOGPSNBDJÓO EFM FTDFOBSJP KVSÎEJDP EFM QBÎT

4VTDSÎCBTF QPS TPMP

ȠȨȧ Ƞȟȟ ȠȨȧ Ƞȟȟ

&/$6&/53& &/ &45"4 16#-*$"$*0/&4 -"4 010356/*%"%&4 %& /&(0$*04 26& &45¦ #64$"/%0

4VTDSÎCBTF MMBNBOEP FO #PHPUÃ PQDJÓO -ÎOFB (SBUVJUB /BDJPOBM PQDJÓO TVTDSJQDJPOFT!MBSFQVCMJDB DPN DP XXX MBSFQVCMJDB DPN DP

1SFDJP SFHVMBS

2VJODFOBMNFOUF DJSDVMB DPO UPEP MP RVF EFCF TBCFS QBSB TBDBSMF QSPWFDIP B MPT OFHPDJPT EFM BHSP DPMPNCJBOP


53"#"+0 %& $".10 13*.&3" 26*/$&/" 4&15*&.#3& %&

(VBOÈCBOB VO DVMUJWP BM RVF NVZ QPDPT TF MF NJEFO (O FRQVXPLGRU HXURSHR OR FRQVLGHUD XQ UHIUHVFR H[yWLFR \ H[TXLVLWR \ VH WUD WD GH XQD GH ODV IUXWDV PiV DSHWHFLGDV \ FRQ PD\RU GH PDQGD HQ HO WUySLFR 6REUH HVWD EDVH SRGUtD GHFLUVH TXH HO SRWHQFLDO HV HQRUPH SHUR SRU VHU XQ FXOWLYR GH DOWR ULHVJR GH FRQGLFLRQHV FOLPiWLFDV HVSHFLDOHV \ GH WDUGtR UHQGLPLHQWR QR PX FKRV VH OH PLGHQ D VHP EUDUOD HQ &RORPELD (VWD HV OD JXDQiEDQD DQQRQD PXULFDWD GH OD TXH QR HV IiFLO FRQVHJXLU GDWRV VREUH FXOWLYRV \ SUR GXFFLyQ HQ HO SDtV D FLHQFLD FLHUWD \ DFWXDOL]DGRV 8Q UHSRUWH GHO 0LQLVWH ULR GH $JULFXOWXUD VHxDOD TXH DO FRUWH GH ~OWL PR GDWR GLVSRQLEOH HQ &R ORPELD HO iUHD VHPEUDGD HUD XQ SRFR PiV GH KHFWiUHDV FRQ XQD SURGXF FLyQ GH WRQHODGDV (VWDV PLVPDV HVWDGtVWL FDV LQGLFDQ TXH HQ ORV ~OWL PRV DxRV ODV iUHDV FXOWL YDGDV VH KDQ PRYLGR HQ SURPHGLR HQWUH ODV \ KHFWiUHDV VLQ SUH VHQWDU FUHFLPLHQWRV \ FRPR Pi[LPR VH KD SURGX FLGR WRQHODGDV TXH VH PDUFy HQ /D PD \RU SDUWH GH ODV iUHDV VHP

6/ '3650 26& 3&26*&3& %& $0/%*$*0/&4 &41&$*"-&4 -B HVBOÈCBOB FT VO DVMUJWP RVF SFRVJFSF EF DPOEJDJPOFT DMJ NÈUJDBT FTQFDJBMFT 4F EFCF TFNCSBS FOUSF MPT Z NFUSPT TPCSF FM OJWFM EFM NBS FO [POBT EF CBKP SÏHJNFO EF MMVWJB /FDFTJUB EF MVNJOPTJEBE QPS MP NFOPT IPSBT EÓB Z FYJHF NBOUFOJNJFOUP Z DVJEBEP 1BSB TFNCSBS VOB IFDUÈSFB TF EFCF JOWFSUJS IBTUB NJMMPOFT RVF TPO SFDVQFSBCMFT TJFNQSF Z DVBOEP TF DVNQMBO MBT DPOEJDJPOFT RVF EFNBOEB FM DVMUJWP i4F SFRVJFSF EF VOB NJDSPDMJNB FTQFDJBM Z DVBMRVJFS BMUFSBDJØO FO ÏM FT VO SJFTHP FOPSNFw EJDF FM QSPEVDUPS 3FOÏ +BJNFT "MHVOPT FTUVEJPT MF BEKVEJDBO B FTUB GSVUB FYØUJDB QSPQJFEBEFT DVSBUJWBT QBSB FOGFSNFEBEFT DPNP FM DÈODFS

i&- $6-5*70 5*&/& 6/"4 -"#03&4 "(30&$0-¶(*$"4 16/56"-&4 &/53& &--"4 -" 10%" : -" 10-*/*;"$*¶/ 26& 4& 3&26*&3& 1"3" .&+03"3 3&/%*.*&/504u «-7"30 1"-"$*0 (FSFOUF OBDJPOBM EF "TPIPGSVDPM

EUDGDV HVWiQ HQ 7ROLPD 9DOOH 6DQWDQGHU &XQGLQD PDUFD +XLOD $QWLRTXLD \ DOJR HQ HO (MH &DIHWHUR \ VH KD FRQRFLGR TXH VRQ HQ VX PD\RUtD SHTXHxRV SURGXF WRUHV TXH WLHQHQ HQWUH \ iUEROHV SHUR WDPELpQ H[LVWHQ RWURV FRQ KDVWD (Q HVWH ~OWLPR UDQJR HVWi 5HQp -DLPHV XQ SUR GXFWRU GH 6DQWDQGHU GH OD YHUHGD 6DQ ,JQDFLR GH %X FDUDPDQJD TXH FRQ iUEROHV HV XQR GH ORV PiV UHSUHVHQWDWLYRV FXOWLYDGR UHV GH JXDQiEDQD GHO SDtV 3URGXFH XQDV WRQHOD

GDV DxR TXH HQ VX PD\RUtD WUDQVIRUPD \ YHQGH HQ SXO SD SURFHVDGD HQ &RORPELD \ HQ HO H[WHULRU $O PHUFD GR H[WHUQR YD FHUFD GH GH OD SURGXFFLyQ EiVLFD PHQWH D (VWDGRV 8QLGRV \ HV SUHFLVDPHQWH SLRQHUR HQ HO SDtV HQ HO QHJRFLR GH SUR FHVDU \ H[SRUWDU OD IUXWD ³/RV SURGXFWRUHV GH JXDQiEDQD HVWDPRV DWRPL ]DGRV \ SRU HOOR HV GLItFLO OOHYDU UHJLVWURV /R TXH VH SXHGH GHFLU HV TXH HQ XQD ]RQD DSWD SURGXFWLYD \ FRQ XQ FXOWLYR ELHQ PDQWHQLGR VH SXHGH SURGXFLU KDVWD NLORV SRU iUERO DxR´

-B HVBOÃCBOB FT VO DVMUJWP EF UBSEÎP SFOEJNJFOUP Z OFDFTJUB EF DPOEJDJPOFT DMJNÃUJDBT FTQFDJBMFT QBSB DPTFDIBSTF 1PS FMMP OP NVDIPT TF BSSJFTHBO B TFNCSBSMB Z FT FO TÎ VOB GSVUB FTDBTB Z DPTUPTB VHxDOy -DLPHV TXLHQ HV HO JHUHQWH DJUtFROD GH )UXH[ FRO /WGD XQD HPSUHVD GH tQGROH IDPLOLDU (VWH HV XQ FXOWLYR GH WDUGtR UHQGLPLHQWR \ VL ELHQ XQ iUERO SXHGH GXUDU KDVWD DxRV SURGXFLHQ GR OXHJR GH VHPEUDGR XQD SULPHUD FRVHFKD VyOR VH GD DxRV GHVSXpV VLQ WHQHU HVWD FHUWH]D ³$O TXLQWR DxR \D SURGX FH DO \ DO VH[WR DO VLHPSUH \ FXDQGR VH JDUDQ WLFH ODV FRQGLFLRQHV FOLPiWL FDV TXH UHTXLHUH HO FXOWLYR VH KDJD IHUWLOL]DFLyQ \ XQ PDQWHQLPLHQWR FRQVWDQWH

(VR UHTXLHUH GH GHGLFDFLyQ \ HV FRVWRVR \ SRU HOOR QR PXFKRV FXOWLYDGRUHV VH OH PLGHQ D VHPEUDU JXDQiED QD´ VHxDOy (O JHUHQWH 1DFLRQDO $VRKRIUXFRO ÈOYDUR 3DOD FLR UHFDOFy TXH HO FXOWLYR WLHQH XQDV ODERUHV DJURHFR OyJLFDV SXQWXDOHV HQWUH HOODV OD SRGD \ OD SROLQL]D FLyQ SDUD PHMRUDU UHQGL PLHQWRV ³&RPR QR PXFKRV OD FXOWLYDQ HV XQD IUXWD HV FDVD \ GHPDQGDGD HQ HO PHUFDGR \ SRU HOOR XQD OL EUD IiFLOPHQWH SXHGH OOHJDU D FRVWDU HQ VXSHUPHUFDGR KDVWD ´ GLMR

&- %"50

.*--0/&4 %& 1&404 &4 -" */7&34*¶/ 130.&%*0 1"3" 4&.#3"3 6/" )&$5¦3&" %& (6"/¦#"/"


40-6$*0/&4 13*.&3" 26*/$&/" 4&15*&.#3& %&

1R FDEH GXGD TXH ORV IH QyPHQRV GHO 1LxR \ OD 1LxD OOHJDURQ SDUD TXHGDU VH \ HO SDtV WHQGUi TXH DGDSWDUVH VL TXLHUH YHU D XQ VHFWRU SURWHJLGR FRQWUD OD LQFOHPHQFLD GHO FDPELR FOLPiWLFR 6L ELHQ WRGDYtD H[LVWHQ XQRV PHFDQLVPRV PX\ SUL PLWLYRV HQ &RORPELD HQ PDWHULD GH SyOL]DV DJURSH FXDULDV HO *RELHUQR KD FR PHQ]DGR XQ SURFHVR GH FREHUWXUD LQWHUHVDQWH SDUD SDJDU KDVWD HO GH OD SULPD GH VHJXUR SRU ULHVJR FOLPiWLFR HQ HO VHFWRU ³,QFOXVR HVWDUtDPRV GLV SXHVWRV D VXELUOR KDVWD HO y ´ GLMR HO PLQLV WUR GH $JULFXOWXUD \ 'HVD UUROOR 5XUDO -XDQ &DPLOR 5HVWUHSR WUDV DVHJXUDU TXH ORV JUHPLRV SXHGHQ WRPDU HVWDV SULPDV DO SRU PD\RU \ FXPSOLU XQ SDSHO PiV GLQiPLFR \ SURDFWLYR FRQ ODV FRPSDxtDV DVHJXUD GRUDV ³8QR YH FLHUWD OHQWLWXG GH ORV JUHPLRV SDUD PRYHU VH FRQ GLQDPLVPR HQ HVWH FDPSR (Q ORV ~OWLPRV FRQ JUHVRV GHO FDIp VH KD UHFOD PDGR XQ VHJXUR GH FRVH FKD (O JRELHUQR KD GLFKR TXH SDJD HO GH OD SUL PD VROR HV VDOLU D QHJRFLDU ([SHULHQFLDV GH JUHPLRV PiV GLVFUHWRV FRPR HO WD EDFDOHUR HV XQ EXHQ HMHP SOR GH OD DPSOLD FREHUWXUD GH VHJXUR TXH KD WRPDGR SDUD VXV DILOLDGRV´ DJUHJy HO 0LQLVWUR 3DUD HO SUHVLGHQWH GH )L QDJUR /XLV (GXDUGR *y PH] LQIRUWXQDGDPHQWH OD SUHRFXSDFLyQ H[LVWH FXDQ GR RFXUUH XQ VLQLHVWUR ³(V WDPRV WUDEDMDQGR FRQ ODV

2007

2008

357. 515 2010

115.606

9.363

45.986

12.425

9.325

15.541

258.790

2009

42.800

146.372

10.675

7.536

8.143

5.658

17.000 200.889

14.022

8.413

6.051

41.863

Total: 1.136.273

172.707

Total: 62.880

Valor asegurado

9.569

Total: 37.586

Valor prima

5.599

Subsidio pagado

enero y julio de 2012

En millones de pesos

4.886

Total: 192.402

108.000

Total: 38.290

Hectareas cubiertas

31.651

N° beneficiarios

30.102

"HSJDVMUPSFT UFOESÈO RVF ABDMJNBUBSTF BM DBNCJP

Seguro agropecuario

1.603

2011

Fuente: Finagro

-PT DVMUJWPT TF WFO FYQVFTUPT DPOTUBOUFNFOUF BM TPM Z B MB MMVWJB

(3&.*04 %&#&3«/ "10:"3 -" 130.0$*»/ %&- 4&(630 "DUVBMNFOUF TF PGSFDFO QØMJ[BT EF TFHVSP DPOUSB SJFTHPT EF TFRVÓBT FYDFTP EF MMVWJB WJFOUPT GVFSUFT JOVOEBDJPOFT IFMB EBT HSBOJ[P EFTMJ[BNJFOUP Z BWBMBODIBT EF PSJHFO DMJNÈUJDP 'JOBHSP FT FM TFDSFUBSJP UÏDOJDP EF MB DPNJTJØO EF USBCBKP RVF FTUVEJB EJTUJOUPT NFDBOJTNPT QBSB EJOBNJ[BS FM NFSDBEP EF TFHVSPT %FOUSP EF FTUF HSVQP EF USBCBKP TF FODVFOUSBO UBN CJÏO FM .JOJTUFSJP EF "HSJDVMUVSB FM .JOJTUFSJP EF )BDJFOEB FM #BODP EF MB 3FQÞCMJDB %/1 FM #BODP "HSBSJP 'BTFDPMEB Z MPT HSFNJPT QSPEVDUPSFT FTUPT ÞMJNPT DVNQMFO VO QBQFM GVOEB NFOUBM ZB RVF TPO MPT MMBNBEPT BQPZBS EFDJEJEBNFOUF MB QSPNPDJØO EFM TFHVSP BHSPQFDVBSJP FRPSDxtDV ILQDQFLHUDV ODV HPSUHVDV DVHJXUDGRUDV ORV JUHPLRV \ SURGXFWRUHV GHO FDPSR FRORPELDQR EXV FDQGR OD IRUPD GH JHQHUDU XQD FXOWXUD SRU HO VHJXUR FRQWUD HO ULHVJR FOLPiWLFR´ H[SUHVy *yPH]

&- %"50

i&- 4&(630 "(301&$6"3*0 '6/$*0/" $6"/%0 &- "(3*$6-503 $0.*&/;" " 7&3-0 $0.0 6/" */7&34*¶/ 1"3" &- '65630 %& 46 "$5*7*%"%u

i6/" %& -"4 %*'*$6-5"%&4 26& 13&4&/5" &- 4&(630 "(301&$6"3*0 &4 &- #"+0 /¼.&30 %& "4&(63"%03"4 26& )": &/ &- .&3$"%0u

3"'"&- .&+¶" 13&4*%&/5& %& -" 4"$

-6*4 &%6"3%0 (».&; 13&4*%&/5& %& '*/"(30

$xDGLy TXH HO PHUFDGR PLOORQHV SDUD RWRUJDU VXE DVHJXUDGRU HV PX\ LQFL VLGLRV SDUD OD WRPD GHO VH SLHQWH SXHV QR VH KD GDGR JXUR DJURSHFXDULR (QWUH FXHQWD TXH HQ HO VHFWRU HQHUR \ MXOLR GH )LQD DJURSHFXDULR H[LVWH XQ JUR DVHJXUy PLO KHFWi UHDV (O YDORU DVHJXUDGR GH DPSOLR PHUFDGR 3DUD HO SUHVHQWH DxR HO ORV SUR\HFWRV HV GH *RELHUQR GHVWLQy PLO PLO PLOORQHV (Q WRWDO VH

.*- )&$5«3&"4

4& )"/ "4&(63"%0 &/53& &/&30 : +6-*0 %& &45& "µ0 &- 7"-03 %& -04 130:&$504 &4 %& .*- .*--0/&4

KDQ SDJDGR SULPDV SRU PLOORQHV /RV SURGXFWRV SDUD ORV FXDOHV VH KDQ WRPDGR HO PD\RU Q~PHUR GH SyOL]DV HQ VRQ EDQDQR WDED FR SOiWDQR SODQWDFLRQHV IRUHVWDOHV \ DUUR]

.POUPT FO DSÏEJUPT DPO HBSBOUÓBT DSFDJFSPO

%FM UPUBM EF DSÊEJUPT BHSPQFDVBSJPT CJMMPOFT FO FM QSJNFS TFNFTUSF NJMMPOFT FTUÃO BNQBSBEPT QPS FM '"(

/RV FUpGLWRV DPSDUDGRV SRU HO )RQGR $JURSHFXDULR GH *DUDQWtDV )$* GH )L QDQJUR SUHVHQWDURQ XQ LQFUHPHQWR GHO HQ VXV PRQWRV GXUDQWH HVWH VH PHVWUH FRQ UHODFLyQ DO YD ORU UHJLVWUDGR HQ HO PLVPR SHULRGR GHO DxR DQWHULRU (O )$* TXH QR HV PiV TXH XQD SURWHFFLyQ GH )L QDJUR WLHQH FRPR ILQDOLGDG DSR\DU D ORV SHTXHxRV DJUL FXOWRUHV GHELGR D TXH PX FKDV HQWLGDGHV FRPHUFLDOHV QLHJDQ FUpGLWRV D TXLHQHV

QR FXPSOHQ FRQ FLHUWRV UH TXHULPLHQWRV 'H DFXHUGR FRQ HO SUHVL GHQWH GH )LQDQJUR /XtV (GXDUGR *yPH] GHO WRWDO GH ORV FUpGLWRV TXH VH KDQ RWRUJDGR GHO HQHUR DO GH MXOLR XQ JUDQ SRUFHQWDMH GH HVWRV YD SDUD ORV SHTXH xRV SURGXFWRUHV $Vt PLVPR DVHJXUy TXH GH OD FDUWHUD GH ELOOR QHV TXH DFXPXOD OD HQWLGDG D OD IHFKD PLOOR QHV \D HVWiQ VLHQGR SURWHJL GRV SRU HVWH IRQGR TXH VH

FRQILJXUy HQ DOLDQ]D FRQ HO 0LQLVWHULR GH $JULFXOWXUD &DEH UHVDOWDU TXH HO FUH FLPLHQWR GH SUpVWDPRV DJURSHFXDULRV DPSDUDGRV VH YH UHIOHMDGR DO FRPSDUDU HO PRQWR GH ORV FUpGLWRV SURWHJLGRV D MXQLR GH TXH IXHURQ PL OORQHV FRQ ORV PLOORQHV UHJLVWUDGRV DO PLV PR PHV GHO DxR HQ FXUVR 'H LJXDO IRUPD VH SXHGH FRPSUREDU FRQ HO Q~PHUR GH FHUWLILFDGRV H[SHGLGRV TXH SRQHQ HQ HYLGHQFLD XQ

EXHQ EDODQFH SXHV KDQ SD VDGR GH GXUDQWH HO SULPHU VHPHVWUH GH D HQ HO PLV PR SHULRGR GH 'HO WRWDO GH WRGDV HVWDV JDUDQWtDV HO VRQ H[SH GLGDV D SHTXHxRV SURGXFWR UHV PLHQWUDV TXH OD SDUWLFL SDFLyQ GH ORV PHGLDQRV HV GH \ HQ ORV JUDQGHV GHO $FWXDOPHQWH HO )$* FXHQWD FRQ JDUDQ WtDV YLJHQWHV \ H[ SHGLGDV


."4$05"4 13*.&3" 26*/$&/" 4&15*&.#3& %&

4FQB FMFHJS MB NBTDPUB QBSB TV IJKP (OHJLU OD PDVFRWD LGHDO SDUD VX KLMR VH FRQYLHUWH HQ XQ UHWR TXH GtD D GtD VH HQ IUHQWDQ ORV SDGUHV FRORP ELDQRV \ TXH VLQ GXGD UH TXLHUH WHQHU HQ FXHQWD XQ VLQ Q~PHUR GH IDFWRUHV FRPR HGDG VH[R JXVWRV HVSDFLR GLVSRQLEOH FDSDFL GDG DGTXLVLWLYD HQWUH RWURV ([SHUWRV FRQVXOWDGRV SRU $JURQHJRFLRV FRLQFLGHQ HQ TXH HQ OD SODQLILFDFLyQ HVWi OD FODYH GHO p[LWR SXHV KD\ IDFWRUHV IXQGDPHQWDOHV TXH VH GHEHQ WHQHU HQ FXHQWD FRPR VX IiFLO DGDS WDFLyQ D ODV QHFHVLGDGHV GH OD IDPLOLD VLQ GHMDU D XQ ODGR OD LPSRUWDQFLD GHO JXVWR GH ORV QLxRV *LRYDQQL *RQ]iOH] Pp GLFR 9HWHULQDULR \ =RRWHF QLVWD DILUPD TXH ORV QLxRV PX\ SHTXHxRV VXHOHQ PD QHMDU GH PDQHUD EUXVFD LQFOXVLYH PDOWUDWDU D OD PDVFRWD GH PDQHUD LQFRQV FLHQWH 'H DOOt OD QHFHVLGDG GH TXH SDUD ORV PiV SHTXH xRV VH HOLMDQ UD]DV GH PDV FRWDV FRQ WHPSHUDPHQWRV PiV GyVLOHV \ GH WDPDxR SURPHGLR ³/RV SHUURV GH UD]DV FRPR ODEUDGRU \ JROGHQ VXHOHQ VHU XQD EXHQD DOWHU QDWLYD GHELGR D TXH VRQ UD ]DV DPLJDEOHV VLQ HPEDU JR FXDQGR VH WUDWD GH QL xRV PX\ SHTXHxRV HV FODYH HO DFRPSDxDPLHQWR GH ORV SDGUHV´ GLMR *RQ]iOH] 2WUR GH ORV IDFWRUHV LP SRUWDQWHV D WHQHU HQ FXHQWD HV OR TXH HVWi GLVSXHVWR D SDJDU SRU HO VRVWHQLPLHQWR GH XQD PDVFRWD (V FODUR TXH WHQHU XQD PDVFRWD HQ FDVD QR VROR LPSOLFD SUR SRUFLRQDU FDULxR WLHPSR \ HVSDFLR WDO FXDO FRPR VL VH WUDWDUD GH XQ KLMR WDPELpQ UHTXLHUH GH LQYHUVLyQ HQ VXV FXLGDGRV \ XQD EXHQD FDOLGDG GH YLGD

-BT NBTDPUBT QSPQPSDJPOBO BMFHSÎB Z EFTBSSPMMBO MB SFQPOTBCJMJEBE

i-"4 ."4$05"4 %& -04 )*+04 4& %&#&/ &-&(*3 %& "$6&3%0 " -" &%"% (6450 &41"$*0 : %*410/*#*-*%"% %& 5*&.10 u (*07"//* (0/";«-&; .ÏEJDP 7FUFSJOBSJP

i-" $0.13" %& 6/" ."4$05" 3&26*&3& %& 6/ 130$&40 %& 1-"/*'*$"$*¶/ &/ &- 26& 4& &7"-¼&/ -"4 .&+03&4 "-5&3/"5*7"4u +&*.: $033&%03 .ÏEJDB WFUFSJOBSJB

"%015"3 ."4$05"4 &/ 6/" #6&/" 01$*»/ )PZ FO EÓB TF IBO QVFTUP FO NBSDIB DJFOUPT EF DBNQB×BT B GBWPS EF BEPQUBS NBTDPUBT ZB TFB QFSSPT HBUPT JODMVTJWF DBCBMMPT DPO FM ÈOJNP EF EBSMFT VOB TFHVOEB PQPSUVOJEBE B BOJNBMFT RVF IBO TJEP BCBOEPOBEPT Z QPS MP UBOUP DBSF DFO EF VO IPHBS &M QSPDFTP TPMP SFRVJFSF FM USÈNJUF EF VOB TPMJDJUVE EF BEPQDJØO FO MB RVF TF EFCF FYQMJDBS FO RVÏ DPOEJDJPOFT WJWJSÈ MB NBTDPUB VOB FOUSFWJTUB UFMFGØOJDB Z VOB WJTJUB EPNJDJMJBSJB -PT ÞOJDPT HBTUPT RVF TF DPOUFN QMBO TPO FM DIJQ EF SBTUSFP Z MBT WBDVOBT &DUORV -XUDGR 0HVD H[ SOLFD H[SOLFy TXH ORV SUHFLRV GH ODV PDVFRWDV \ OD LQYHU VLyQ HQ HO VRVWHQLPLHQWR YDUtD GH DFXHUGR DO WLSR GH DQLPDO UD]D HGDG VH[R \ SURFHGHQFLD (Q VX RUGHQ ODV PDVFRWDV PiV FRVWRVDV VRQ ORV FDEDOORV VHJXLGR GH

SHUURV JDWRV SHFHV URHGR UHV \ UHSWLOHV $GLFLRQDOPHQWH HYDOXDU OD GLVSRQLELOLGDG GH WLHPSR \ HO HVSDFLR HV IXQGDPHQ WDO 6L VH KDELWD HQ XQ DSDU WDPHQWR VH UHFRPLHQGD OD HOHFFLyQ GH PDVFRWDV SH TXHxDV \ SRFR DFWLYDV SXHV

HVWR HYLWDUi TXH LQFXUUDQ HQ GDxRV GHQWUR GH OD FDVD ³7RGD PDVFRWD HVSHFLDO PHQWH ORV SHUURV \ JDWRV GHEHQ WHQHU DFWLYLGDG ItVL FD SRU HOOR HV QHFHVDULR TXH ODV SHUVRQDV WHQJDQ HQ FXHQWD TXH FRPR PtQLPR VH GHEH VDFDU ORV DQLPDOHV GRV YHFHV DO GtD D HVSDFLRV DELHUWRV (VWR LPSDFWDUi GH PDQHUD SRVLWLYD HO FRPSRU WDPLHQWR GH ORV PLVPRV GHQWUR GHO KRJDU´ VHxDOy *RQ]DOH] 6HJ~Q ORV H[HSHUWRV ODV PDVFRWDV SHUPLWHQ GHVD UUROODU HQ ORV QLxRV HO VHQWL GR GH OD UHVSRQVDELOLGDG \ GHVSLHUWDQ HO DPRU SRU HO RWUR

&- %"50

5&/(" &/ $6&/5" 26& t 1"3" -04 .¦4

1&26&µ04 4& %&#& &-&(*3 3";"4 %¶4*-&4 t -04 "/*."-&4 3&26*&3&/ %& "$5*7*%"% '±4*$" t -" %*410/*#*-*%"% %& &41"$*0 &4 $-"7& 1"3" 4&-&$$*0/"3 &- 5"."µ0 %& -" ."4$05"

7&$&4 "- %¶"

$0.0 .±/*.0 4& %&#& 4"$"3 -"4 ."4$05"4 " 26& 3&"-*$&/ "$5*7*%"% '±4*$"


*/%*$"%03&4 13*.&3" 26*/$&/" 4&15*&.#3& %&

#0-4" .&3$"/5*- %& $0-0.#*"

'&3*" %& ("/"%04 1-"/5" %& #&/&'*$*0 46#"45"

%&- "- "(0 %&

"/*."-&4

13&$*0 ,(

"IVZBNB "SWFKB WFSEF FO WBJOB $FCPMMB DBCF[POB CMBODB $FCPMMB KVODB $IPDPMP NB[PSDB )BCJDIVFMB 1FQJOP DPIPNCSP 1JNFOUØO 3FNPMBDIB 5PNBUF ;BOBIPSJB

$PTUP UPUBM &Y 1VFSUP 64 5PO

1SFDJP QVFTUP #PHPUÈ 5PO

$)*$"(0 $ 4&1 $)*$"(0 $ /07

5035" %& 40:"

'6&/5& #.$ 4 " %FQBSUBNFOUP 5ÏDOJDP $PO CBTF DJGSBT %FQBSUBNFNUP EF 0QFSBDJPOFT

$)*$"(0 $ 4&1 $)*$"(0 $ 0$5

"$&*5& $36%0 40:"

$)*$"(0 $ 4&1 $)*$"(0 $ 0$5 53*(0

$)*$"(0 $ 4&15 $)*$"(0 $ %*$ $)*$"(0 $ 4&15 $)*$"(0 $ %*$

"SSBDBDIB 1BQB OFHSB 1BQB DSJPMMB 1MÈUBOP HVJOFP 1MÈUBOP IBSUØO WFSEF :VDB

"330; $"4$"3"

$)*$"(0 $ 4&15 $)*$"(0 $ /07

)0-*%":

)0-*%":

/FX :PSL

$04504 %& 3&'&3&/$*" 103 50/&-"%" 1"3" 6/ 53"$50$".*»/ "SNFOJB # RVJMMB

'VFOUF .JOJTUFSJP EF 5SBOTQPSUF

($ %

"' %'

#$ *,"

% %

!$ #"

&'#

)

."

O E O E O E O E O E O E O E O E O E O E O E O E O E O E O E O E

O E O E O E O E O E O E O E O E O E O E O E O E O E O E O E O E

O E O E O E O E

O E O E O E O E O E O E

1MB[P

30#645"4 'SBODF %BJMZ &JHIUFE "WFSBH

O E O E O E O E

O E O E O E O E O E

O E O E O E O E O E

O E O E O E O E O E O E O E O E O E O E O E

O E O E O E O E O E O E O E O E O E O E O E O E O E

#PHPUÈ # NBOHB # WFOUVSB

$BMJ $BSUBHFOB

$ÞDVUB

1MB[P

4FQ %FD .BS

";Á$"3

'VUVSF ";6$"3

'VUVSF

$JFSSF

7BS

$0#3& ʰ $&/5"704 103 -*#3"

4FQ 4FQ

13&$*04 */5&3/"$*0 /"-&4ʰ"$&* 5& %& 1"-." ʤ%ØMBSFT QPS UPOFMBEBʥ "HPTUP EF

"$&*5& %& 1"-." $36%0 $*' 3055&3%". '65630ʰ/07 "$&*5& %& 1"-." $36%0 &/ ."-"4*" "$&*5& %& 40:" $36%0 '0# "3(&/5*/"

7BS

'656304 $"$"0 ʤ ʥ

0DU %FD

)0-*%":

$PTUP EF USBTMBEP TFHÞO PSJHFO EFTUJOP %VJUBNB *CBHVÏ *QJBMFT .BOJ[BMFT .FEFMMÓO

$JFSSF

";Á$"3

'VFOUF 0*$

%BJMZ 8FJHIUFE "WFSBH

#3";*-*"/ /"563"-4 /FX :PSL (FSNBOZ %BJMZ &JHIUFE "WFSBH

$PTUP UPUBM QPS UPOFMBEB $PTUP EF 5SBTMBEP 5PUBM IPSBT BDPSEBEBT EF FTQFSB DBSHVF Z EFTDBSHVF

"SNFOJB #BSSBORVJMMB #PHPUÈ #VDBSBNBOHB #VFOBWFOUVSB $BMJ $BSUBHFOB $ÞDVUB %VJUBNB *CBHVÏ *QJBMFT /BSJ×P .BOJ[BMFT .FEFMMÓO /FJWB 1BTUP 1FSFJSB 1PQBZÈO 4BOUBNBSUB 5VNBDP 7JMMBWJDFODJP :PQBM

O E O E O E O E

'656304 $"3(" &/ $0-0.#*" /FX :PSL (FSNBOZ %BJMZ &JHIUFE "WFSBH

'VFOUF 0*$

0SJHFO %FTUJOP

O E O E O E O E O E O E O E O E O E O E O E

7BSJFEBE QSFEPNJOBOUF FO FM NFSDBEP 7BS 7BSJBDJØO QPSDFOUVBM DPO SFTQFDUP BM QSPNFEJP EFM EÓB BOUFSJPS EF NFSDBEP / % /P %JTQPOJCMF 'VFOUF %"/&

'VFOUF *OGPBTFSDB $#05 &MBCPSØ 6OJEBE EF 1MBOFBDJØO #.$

$"'² &/ $*'3"4 *DP DPNQPTJUF /FX :PSL (FSNBOZ JOEJDBUPS 1SJDF

)0-*%":

" + &

'VFOUF '&%&1"-."

ʰ"6( ʰ"6( ʰ"6( ʰ"6( ʰ"6( ʰ4&1 ʰ4&1 ʰ4&1 ʰ4&1

(-

O E O E O E O E O E O E O E O E O E O E O E

O E O E

13&$*04 %&- $"'² %BUF

0 ('

O E O E

56#²3$6-04 : 1-«5"/04

."¶; "."3*--0

"HVBDBUF #BOBOP $PDP (SBOBEJMMB (VBZBCB -JNØO DPNÞO -JNØO 5BIJUÓ -VMP .BOEBSJOB .BOHP UPNNZ .BSBDVZÈ .PSB EF $BTUJMMB /BSBOKB 7BMFODJB 1BQBZB NBSBEPM 1J×B 5PNBUF EF ÈSCPM

'3¶+0- 40:"

'365"4 '3&4$"4

4&15*&.#3& %& $PUJ[BDJØO 'VUVSP 64 5PO

#0(05« .&%&--¶/ $"-* 1&3&*3" #6$"3"."/(" #"33"/26*--" $Á$65" 13&$*0 7"3 13&$*0 7"3 13&$*0 7"3 13&$*0 7"3 13&$*0 7"3 13&$*0 7"3 13&$*0 7"3

)035"-*;"4 : 7&3%63"4

$)*$"(0 ʰ 6 4 " 1PTJDJØO

130%6$504 "(3¶$0-"4 #0-&5¶/ %*"3*0 %& 13&$*04 .":035*45"4 %& 4&15*&.#3& %&

'VFOUF $FOUSBM (BOBEFSB 4 "

( "' % /" #" ' %#&

'VFOUF 0*$

" ",

%! "

.BDIPT $FCBEPT ,H FO QJF .BDIPT EF -FWBOUF B×P .BDIPT EF -FWBOUF B×PT .BDIPT $FCBEPT B×PT .BDIPT $FCBEPT B×PT .BDIPT %FTUFUF #07*/0 )&.#3" )FNCSBT $FCBEPT ,H QJF )FNCSBT EF -FWBOUF B×P )FNCSBT EF -FWBOUF B×P )FNCSBT EF $SÓB B×PT )FNCSBT EF $SÓB B×PT 7BDBT DPO DSÓB "UBPT 7BDBT EF -FDIF 3FWPMUVSB #PWJOP *OEVTUSJBM LH FO QJF 103$*/04 $FSEPT $FCBEPT LH FO QJF $FSEBT %FTDBSUF LH FO QJF 7FSSBDPT %FTDBSUF LH FO QJF &26*/04 $BCBMMBS 4JMMB .VMBS TJMMB 1BSB "CBTUPT 1-"/5" %& #&/&'*$*0 */(3&40 %& '*/$" "/*."-&4 505"- 4"$3*'*$*0 #PWJOPT 1PSDJOPT 505"- 4&.07*&/5&4 */(3&4"%04 " $&/53"- ("/"%&3" 4 "

(

130.&%*0 10

( % ! "

.¶/*.0

1SPNFEJP

"DFJUF $SVEP EF 1BMNB 7BMMF EFM $BVDB "DFJUF $SVEP EF 1BMNB ;POB EF QSPEVDDJØO "SSP[ #MBODP SFFNQBDBEP

/JWFM /BDJPOBM "SSP[ #MBODP 4BDP

#PHPUÈ % $ "SSP[ $ÈTDBSB )ÞNFEP $BTBOBSF "SSP[ $ÈTDBSB )ÞNFEP &TQJOBM "SSP[ $ÈTDBSB )ÞNFEP /JWFM /BDJPOBM "SSP[ $ÈTDBSB )ÞNFEP 7JMMBWJDFODJP $BGÏ 1BTJMMB "OUJPRVJB $BGÏ 1BTJMMB &KF $BGFUFSP 'JCSB EF "MHPEØO /JWFM /BDJPOBM 'SJKPM $BSHBNBOUP "OUJPRVJB 'SJKPM $BSHBNBOUP /JWFM /BDJPOBM 'SJKPM 4PZB /BM /JWFM /BDJPOBM .BÓ[ "NBSJMMP *NQPSUBEP "OUJPRVJB .BÓ[ "NBSJMMP *NQPSUBEP #BSSBORVJMMB .BÓ[ "NBSJMMP *NQPSUBEP #VFOBWFOUVSB .BÓ[ "NBSJMMP *NQPSUBEP *OUFSJPS .BÓ[ "NBSJMMP *NQPSUBEP 4BOUBOEFS .BÓ[ "NBSJMMP *NQPSUBEP 7BMMF EFM $BVDB .BÓ[ "NBSJMMP /BM /JWFM /BDJPOBM .BÓ[ #MBODP /BM *OUFSJPS .BÓ[ #MBODP /BM /JWFM /BDJPOBM .BÓ[ #MBODP /BM 7BMMF EFM $BVDB 4PSHP /BM /JWFM /BDJPOBM

.«9*.0

# #',

4JUJP EF FOUSFHB

%FM BM EF TFQUJFNCSF EF #07*/0 ."$)04

/FJWB

1BTUP

1FSFJSB

1PQBZÈO

4 NBSUB

5VNBDP 7 DFODJP

:PQBM


40$*"-&4 13*.&3" 26*/$&/" 4&15*&.#3& %&

-04 &7&/504 .«4 %&45"$"%04 %&- 4&$503 -04 $&35¦.&/&4 4& &/'0$"30/ &/ &- 3&$0/0$*.*&/50 %&- 53"#"+0 26& "%&-"/5"/ -"4 &.13&4"4 %&%*$"%"4 " "$5*7*%"%&4 "(301&$6"3*"4

&91&3504 &/ &26*104 "(3¶$0-"4 3FQSFTFOUBUFT EF MBT EJGF SFOUFT FNQSFTBT RVF DPNFSDJBMJ[BO NBRVJOBSJB BHSÓDPMB FO $PMPNCJB TF SFVOJFSPO DPO FM .JOJTUSP EF "HSJDVMUVSB FO MB CÞT RVFEB EF NFDBOJTNPT RVF GBDJMJUFO BM TFDUPS QSPEVDUPS MB DPNQSB EF FRVJQPT Z IFSSBNJFOUBT

4&.*/"3*0 %& 1&3*0%*45"4 6O HSVQP EF NÈT EF QFSJPEJTUBT TF IJDJFSPO QBS UÓDJQFT EFM *7 4FNJOBSJP /BDJPOBM EF "DUVBMJ[BDJØO QBSB 1FSJPEJTUBT &DPOØNJDPT RVF PSHBOJ[Ø MB 4PDJFEBE EF "HSJDVMUPSFT EF $PMPNCJB FO (JSBSEPU

"#3&/ +"3%¶/

$*&33& $"/*(&/

&M HPCFSOBEPS EF 4BOUBOEFS 3JDIBSE "HVJMBS 7JMMB GVF FM FODBSHBEP EF DPSUBS MB DJOUB EVSBOUF MB SFJOBVHVSBDJØO EFM +BSEÓO #PUÈOJDP VCJDBEP FO 'MPSJEBCMBODB

.ÈT EF NJM NÏEJDPT WFUFSJOBSJPT QBSUJDJ QBSPO EFM DVBSUP QSPHSBNB EF BDUVB MJ[BDJØO DPOUJOVB A$BOJHFO RVF PSHB OJ[Ø MB DPNQB×ÓB 7JSCBD FO EÓBT QBTBEPT FO #PHPUÈ

'0304 -3 : &- 1&3*¶%*$0 "(30/&(0$*04 -0 */7*5"/ "- 13*/$*1"- &7&/50 %&- 4&$503

4&15*&.#3& %&

'030

&- $6#0 $0-46#4*%*0 $SB /P #0(05¦ $0-0.#*" ". " 1.

$"-* 0$5 )05&- 41*8", *#"(6­ 0$5 $&/530 %& $0/7&/$*0/&4 (0#&3/"$*¶/ #6$"3"."/(" 0$5 $-6# %&- $0.&3$*0 1&3&*3" 0$5 )05&- .07*$) #"33"/26*--" 0$5 .0/5&3±" 0$5

3&504 : 010356/*%"%&4 %&- 4&$503 "(301&$6"3*0 '3&/5& " -04 5-$ T

03("/*;"

"10:"/

1"530$*/"/

/ 0 464$3*1503&4

464$3*1503&4 -3 : (36104 %& 0 .¦4

%FTDVFOUP

*OTDSÎCBTF MMBNBOEP FO #PHPUÃ

/VFTUSP QBÎT JOWJUBEP

&YU

$)*-&

-ÎOFB (SBUVJUB /BDJPOBM

1POFOUF %S '&-*1& 304"4 DPO MB DPOGFSFODJB y$ÓNP $PMPNCJB QVFEF BQSPWFDIBS F JNQMFNFOUBS MB FYQFSJFODJB EF $IJMF FO TVT 5-$

& NBJM GPSPTMBSFQVCMJDB!MBSFQVCMJDB DPN DP

6/ $".10 1"3"

&- $".10

%S +VBO $BNJMP 3FTUSFQP %S "OESÊT .PODBEB %S -VJT 'FSOBOEP 4BNQFS .JOJTUSP EF "HSJDVMUVSB

1SFTJEFOUF EF 'FOBWJ

(FSFOUF $PNVOJDBDJPOFT 'FEFSBDJÓO /BM $BGFUFSPT

%S -VJT &EVBSEP (PNF[ %S -VJT $BSMPT 7JMMBNJM 1SFTJEFOUF EF 'JOBHSP

%FDBOP 'BDVMUBE $JFODJBT "HSPQFDVBSJBT 6 4BMMF

%S 3BGBFM .FKJB 1SFTJEFOUF 4"$

%S )FSOÃOEP +PTF (ÓNF[ ;BS 5-$



Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.