«We have had a meeting with the SEPI to explore the possibilities and continue working on viability alternatives for the company in the framework of the preoconcia. The company is very worried because time is exhausted and it is essential to achieve the necessary agility ». Are … Words from sources from the Council of Duro Felguera, which seeks these days with the State different roads to get the company rescued.
The objective of the Council meeting was to present a business plan that convinced the public entity to make the debt debt into shares and take control of the company. The Asturian company agreed to the Solvency Support Fund for Strategic Companies that delivered a help of 120 million euros in 2021.
Now, the plan presented on Wednesday to the representatives of the State in their council, has not had the expected response. To the SEPI The proposal does not convince him, and has placed the Felguera Durunate team to a new meeting, or upcoming meetings, with more realistic and effective measures.
Time and ideas are exhausted and in Duro Felguera do not know what else to do to avoid the difficult and hard situation, at the edge of entering into the cause of dissolution, apart from the fact that there are doubts about when you can have a box to deal with Current payments.
In addition, the main shareholders, the Mexicans Prodi and Mota-Engil México Groupthat they took the majority of capital contributing 90 million euros, they are not willing to continue investing.
Specifically, explain the sources consulted by this newspaper, Duro Felguera has proposed to the SEPI the split of the group into two companies, a division of services and another of complete construction contracts, in addition to detaching themselves from other non -strategic assets.
The entrance of an industrial partner was one of the conditions that the SEPI put Duro Felguera to give him the rescue and, under the umbrella of both groups, it seemed that a new horizon was opened. The company spoke a little over a year ago of reaching 1,000 million euros of billing in the year 2027 and of fully returning the loan to the public rescue fund.
But now, the main shareholders trust their future for the State to enter capital and trust is restored with creditors and banking and can be saved to the liquidation company. Conversion into aid shares received through Solvency aid for strategic companies (PHASE) He would leave the public holding with a dominant position in the company and the duty to ensure that he can continue attending to the ongoing orders and aspire to new contracts, at a time when his financial situation arouses many doubts among customers for fear of that projects can be abandoned.
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