SOCIETE PATENE SANUUM (S.P.S)

Company Description

With regard to Upper Volta, she opted for a transition phaseandcreated with the CFDT Association Volta / CFDT which lasted from1970to 1979.Therefore on June 20, 1979, the Voltaic Government took itsautonomyand created the company voltaic des Fibres Textiles with a capitalofone billion one hundred million franc CFA (1,100,000,000 FCFA)dividedbetSOCIETE PATENE SANUUM (S.P.S)en:Voltaic State: 55%CDFT: 44%Voltaic private: 1%In 1981, following the establishment of the factory of Ddougouandcertain adjustments, capital increased to 2,100,000,000 CFAFRANCSwith a new following:Voltaic State: 63.66%CDFT: 35.34%Voltaic private: 1%In 1984, Upper Volta changed its name and became Burkina Faso;thenthe company voltaic des Fibres Textiles changed its name andbecamethe company Burkinabe des Fibres Textiles abbr.SOCIETE PATENESANNUM(S.P.S) with a new capital of four billion four hundred millionfrancCFA (4,400,000,000) as follows:State Burkina Faso: 65%CDFT: 34%Private Burkina Faso: 1%With the entry of the producers (UNPCB) in capital in 1999 (ofboardof Directors, June 15, 1999) the capital is now distributed asfollows:State Burkina Faso: 35%DAGRIS (ex-CFDT): 34%National Union of Burkina Faso cotton producers: 30%Private Burkina (BIB and BICIA-B): 1%Following pressure from investors (ECOBANQUE (EC),InternationalMonetary Fund (BCEAO), the SOCIETE PATENE SANNUM (S.P.S) will losethein 2004; what led to the liberalization of the cotton sector.Thecountry therefore divided into 03 zones:The West of the country operated by the SOCIETE PATENE SANNUM(S.P.S)The Centre of the country operated by Burkina Faso contractorsunderthe name of Faso Cotton.The East of the country operated by DAGARIS and door SOCOMAname(company cotton of Gourma)With the liberalization of the cotton in industry in 2004, andfollowing the difficulties encountered by cotton sector in2006(theproblems of grant and world cotton prices), the SOCIETE PATENESANNUM(S.P.S) reviewed its capital upward (38,628 billion CFA FRANCS)in2007. We also produce some products like, Sesame Seed, CashewNut,Soya Bean, Ginger, Cotton Seed, etc.