The change of course of Bimbo group in Spain has caused in recent years the sale or divestment of several of its plants in our country. Among them the one he owned in El Verger (Alicante), which despite closing the last few years with profits closed the shutter definitively last March.
In addition to the loss of 98 jobsBimbo has also quantified in numbers what it will cost the end of its activity in the Alicante townwithin its restructuring process in Spain, where also a few weeks ago it just reached an agreement to leave its Valladolid plant. In total, the group estimates an impact of 12.18 million euros due to the end of the activity and the closure of the facilities which until the first quarter of this year were dedicated to the manufacture of toasted bread and the Takis brand line of snacks.
The majority of this amount corresponds to labor compensation, according to the accounts of Panificación Industrial del Vergel, the company that owns the factory. “The company has proceeded to register an expense for compensation in fiscal year 2024 for future terminations or relocations planned by management for the amount of 9.55 million euros“, collects the memory. A figure that is not closed either.
In addition, it has also proceeded to record in fiscal year 2024 an expense for impairment “related to items of property, plant and equipment that are not going to be disposed of or reused in other production centers” of the group 2.63 million euros. That is, the valuation of the equipment, machinery and other assets that it considers will not be able to be used in other plants and subsidiaries. According to it, the net book value of its affected assets is 4.6 million euros.
The company does not include the plant’s inventories in these costs, since “they will be sold to other companies of the Bimbo group in Spain, without causing any loss.” As for the floors and buildings of the plant itself, the report indicates that It is already being valued for sale. “The management has involved an independent expert for the purposes of determining the reasonable value of the land and the warehouse that are part of the El Vergel plant without having identified losses in value due to deterioration”.
History of a closure
Bimbo communicated last January 10 to the workers’ representatives in Alicante the decision to initiate a collective dismissal to proceed with its closure. After various negotiations, On February 14, the conditions for the application of the collective dismissal procedure were agreed with “alternatives such as early retirement, relocation or potential termination of employment contracts via dismissal,” according to the company itself.
Although the division of the group in Spain has accumulated losses in recent years in a context of the strong rise of private labels due to inflation, the truth is that Panificadora Industrial del Vergel had maintained the benefitsdespite the fact that last year it reachedreduce your business by 8%, up to nearly 21 million euros.
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