International Briquettes Holding “IBH”
International Briquettes Holding “IBH” was established with the aim of grouping companies dedicated to the production and marketing of iron briquettes and products of a diverse nature aimed at industrial sectors, among which include machinery, industrial spare parts, raw materials and intermediate and finished products.
Venprecar: Venezuelan Prereduced Caroní, C.A. “Venprecar”, is located in the industrial zone of Matanzas, Puerto Ordaz. It is a Midrex technology plant, with a nominal production capacity of 815,000 metric tons per year. It feeds on pellets and lumps of iron ore.
Orinoco Iron: Orinoco Iron S.C.S., Sociedad en Comandita Simple, is located in the industrial zone of Matanzas, Puerto Ordaz. It is a Finmet technology plant, with a nominal production capacity of 2.2 million metric tons per year. It feeds on iron ore fines.
IBH plants (in process of nationalization)
At the beginning of February 2010, the Venezuelan State, unilaterally and exclusively, took control and assumed the administration of the briquetting companies Venprecar and Orinoco Iron, both subsidiaries of Sivensa (through IBH), which led to the occupation and exploitation of its industrial plants located in Puerto Ordaz, Bolívar State.