Cox Energy will receive help from the state Refloating Abengoa. Specifically, Industry Minister Héctor GómezThe executive gave a speech to the new directors of the multinational. at least 150 million warranty lines euros to facilitate the company’s contract international markets.
This was pointed out by Gómez during the meeting. Abengoa Monitoring Committee It was held at the company’s headquarters in Seville this Wednesday, after the assets of the engineering firm were transferred to the company founded by a man from Alicante. Enrique Riquelmeunder the bankruptcy of the holding. Riquelme attended the meeting together with the Andalucía Junta Minister of Industry, Energy and Mines. Jorge Paradela; mayor of the city, Antonio Munozand old minister Reyes Maroto among others.
The minister stressed that the award to Cox Energy “means.wonderful news this results in a difficult process of dialogue and negotiation between those involved in both the public and private sectors”. employees of the company are the biggest beneficiariesafter the new owner’s commitment to maintaining 9,505 businesses and continuing productive activity and maintaining its headquarters in Seville.
The head of industry reminded that the priority of the Manager in this process is precisely to maintain the highest possible amount of employment, to ensure the future of the new company. Its persistence in Spain and its international strength. Therefore, the company stated that once it was awarded, the Government would “use all means” to support the chosen project. Thus, the company announced that it will provide a guarantee line of at least 150 million to the new Abengoa to facilitate its international operations.
Jorge Paradela, on behalf of the Andalusian Government, expressed his “satisfaction” with the Abengoa workers. “It has been the knowledge and talent that the team has developed over many years that has allowed us to continue to contract with the project portfolio.Get rid of this almost ten years of uncertainty. “Abengoa has been and will continue to be the motto of engineering and energy at the national and international level.”
“It’s also an element. promising project portfolio that there is a volume Cox Energy and Abengoa synergyProjects that can combine opportunities related to the green revolution and the deployment of renewable energy in Andalusia,” he said.
After the Monitoring Commission meeting, Minister Gómez met with his workers to “transmit their support for restarting the company through the process that is now starting”, accompanied by the adviser, former Minister Reyes Maroto and Sevillian mayor Antonio Muñoz. international”.
Prize
It was Tuesday when it became known that the Third Division of the Commercial Court of Seville had decided. Rewarding Cox Energy as a manufacturing unit It consists of the assets of the thirty or so Abengoa subsidiaries responsible for the engineering firm’s operations, considering its proposal as the most appropriate.
This offer submitted It was valued by the company headed by Enrique Riquelme from Alicante. 564 million euros The proposal includes a minimum payment of 27.3 million to the contest, with a mechanism to increase this value in the future. But above all, Cox Energy is also 206 million euro debt and collateral In addition to those living from Abengoa projects, other “Project Financing” debt of 252 million euros That Sevillian engineering associates with other beings.
Similarly, Cox Energy accepts payment. 22.8 million euro owned by the multinational company Social Security guarantees 100% repayment of concessional loans to creditors. In this sense, the company remembers that it had already transferred eight million euros on March 30 for the first payments of its bankruptcy loans.
As for the financial plan, it includes a set of guarantees worth 300m euros and a commitment to reduce Abengoa’s treasury needs by two-thirds. According to the information given after the award was announced, it is a target to be achieved thanks to the direct contribution of the workload, which the company estimates as 3 billion 200 million euros for the next three years.