The group Notary continues to expand its presence in the defense and aerospace sector after managing to close the rescue of the Valencian company DAS Photonicsone of the pioneering firms in the development of photonic nanotechnology worldwide.
The spin-off that emerged from the Polytechnic University of Valencia more than a decade ago was in a difficult economic situation after several negotiation processes with its creditors. He first plan that he presented for restructuring, which had the support of another company, was overturned by the Provincial Court of Valenciawhich rejected it as it had not been negotiated with the creditors.
Now the Commercial Court No. 4 of Valencia has approved the restructuring plan supported by the EM&E group which was presented in October. DAS Photonics presented a second plan, in this case supported by Escribano, which did have the trust of the creditors and which on November 18 was approved by the court.
Before the end of the year, EM&E is scheduled to conduct a capital injection into DAS Photonics to obtain exclusive control and a strong majority of the share capital of the company and continue with the development of a technology that is strategic in the aerospace and defense field. In addition, EM&E will lead the business management of DAS Photonics and will provide the Valencian firm with all its resources in terms of R&D, commercial, production or human resources.
The incorporation of DAS Photonics to EM&E Electronics responds to EM&E’s strategy of obtaining growth based on the integration of new capabilities, which reinforces its position in the defense and advanced technology sector. With this incorporation, it will integrate leading capabilities in electronic warfare, advanced communications and applied photonics, expanding its technological portfolio to offer even more innovative and competitive solutions for the defense and security industry.
New electronic subsidiary
In the words of Ángel Escribano, president of EM&E: “We are proud that our commitment to this restructuring plan has been approved and to be able to integrate DAS Photonics into our subsidiary EM&E Electronics. We could not allow our country to lose a leading brand in a capacity as strategic as that of photonics due to inadequate previous management.
DAS Photonics will be integrated into EM&E Electronics, a new company with which EM&E aims to become a benchmark in the electronics sector in Europe. Specialized in the development and production of advanced electronic components, the creation of EM&E Electronics represents a milestone in the search for strategic autonomy.
EM&E Electronics was born with a pan-European vision in a sector considered critical in the aerospace and defense fields since dependence on external supplies not only conditions the ability of countries to respond to global challenges, but also limits their opportunities to lead. innovation.
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