The largest producer of marble and granite in Spain, the Levantina groupcontinues to reduce its industrial structure. If three months ago it closed an important adjustment in its quarries and marble processing plants in the province of Alicantenow does the same in what was its other historical business leg: Galician granite. The company has proposed the departure of the majority of its workforce in Porriño (Pontevedra), with 95 of its 106 workers.
The plant would thus cease its productive activity to function as a warehouse, as reported by the three unions present in the company’s works council, UGT, CC.OO. and CIG. According to Europa Press, At the mass they criticized that the company was “leaving Galicia” and “leaving 95 families stranded” by ceasing its industrial activity despite considering it to be “viable.”
The unionists have explained that a negotiation process will begin until February 6 to try to find an alternative to the layoffs. So, They have asked the Xunta for help to try to make the company viable and look for investors that maintain productive activity.
For its part, the company has confirmed the start of talks with the union representatives of its O Porriño plant for the implementation of an ERE for economic, organizational and production reasons that will initially affect 95 workers.
“The company has been forced into this situation due to the critical impact on its viability produced by the crisis in the sectorderived from the drastic and continued drop in demand for natural stone compared to other substitute products in the last decade. The beginning of this ERE process aims to adapt the structure of Levgranite to the reality of the current international natural stone market, and especially to the decreasing demand for granite,” he added.
Cut just a few months ago
The company has already undertaken a strong restructuring less than three months ago, with an ERE in its marble divisionwhich is concentrated in the Alicante municipality of Novelda, where it has its headquarters. Although initially proposed the departure of 244 employees, in the end the figure was reduced to 186 from the Levantina Mármol factory in Novelda and the Monte Coto quarries in Pinoso (Alicante), Vallanca (Valencia) and Los Losares (Albacete),
The activity in Galicia comes from Graninter, the granite division that was part of the merger process of several dozen firms in the marble and stone sector with which Levantina was created at the beginning of this century promoted by several investment and venture capital firms. to create a world leader in this industry, with subsidiaries also in Brazil and the US.
However, the bursting of the real estate bubble and the financial crisis following its high debt for that operation have hampered its activity for more than a decade, with continuous staff adjustments. After several refinancing processes, Levantina is in the hands of the Bybrook and JP Morgan fundwho control the majority of the company.
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