History
While Diesco is a relatively new entity, the seeds for it date back almost half a century. Mr. Manuel Diez Méndez founded the Petroquímica Group in 1957, dedicated to the manufacturing of rubber and plastic products. Petroquímica Group grew to include five main companies: Polyplas Dominicana, Termopac Industrial, Moldeo Industrial, Industria Petroquímica and Quimsanto. By the mid 1990s, Mr. Diez Méndez executed a succession agreement with his two eldest sons, Manuel y José, whom immediately designed individual strategies for the development of each business of the Petroquímica Group.
Manuel Diez Cabral led the packaging part of the group, Polyplas, Termopac and Moldeo, while José Diez Cabral managed the other non packaging related companies (Petroquímica and Quimsanto). Manuel Diez Cabral and his team, with a clear vision of the future conceived and designed the key strategy for the development and expansion of Polyplas, Termopac and Moldeo, which could be summarized in three key words: consolidation, modernization and internationalization.
For the packaging division of the group, Polyplas, Termopac and Moldeo, the process began immediately with an aggressive transformation and modernization of all its operations, internal procedures and information systems. As result of this focus, it was decided in 1999 to merge Moldeo Industrial with Polyplas Dominicana. The goal was to reduce costs, consolidate and generate economies of scale through the development of a Caribbean and Central American presence.
With all this in the works, the time to form an entity that would tie all these efforts into one cohesive business unit had arrived. Diesco was born in 2000 to fulfill this goal.
Given the success of the Puerto Rican initiatives in great part due to the important foothold developed in that market with the creation of Polyplas International in 1996 as a distribution center for this island, the next step was to establish a manufacturing base to develop several products that were being demanded by the Puerto Rican market. That opportunity came in 2002 with the acquisition of Pac Tech International and the subsequent merger of Polyplas International with this new operative unit. By 2003 efforts were carried out to develop an impacting entry in the US market which was achieved through the establishment of a strategic alliance with Bunzl, one of the largest and well known distributors of packaging and disposable products in the United States.
In 2006, as a result of the interest of the groups’ executives to more thoroughly investigate the business opportunities and viabilities that the construction industry offered, and the possible alternative usage of one of its main raw materials (Polystyrene) the most recent of Diesco’s companies’, Multiblox, was born. The company is dedicated to the production and commercialization of foam products for the construction industry.
Today, Diesco, an entrepreneurial, dynamic, innovative and ever expaning group reaches more than 40 destinations in the Caribbean, Central America, South America and the United States and serves a wide array of industries classified among the largest in its field.
Cronology of Events
