The Galician metallurgical auxiliary sector features a dense network of small and medium-sized firms forming a robust and prestigious ecosystem. Among these, there are international participants from Turkey, Portugal, the Netherlands and Germany, including Gesbey Energy Turbine Tower Production, DCC Serviços Técnicos e Reparação de Máquinas, DFOM Netherlands, and Voestalpine Böhler Welding. While not a perfect census, the roster is diverse and extensive, comprising creditors of Talleres Ganomagoga and Ganomagoga Logistics recognized by the bankruptcy administration, based on documents received through Faro de Vigo from Prensa Ibérica. In total, roughly 300 companies relied on Ganomagoga as a supplier or financier in a project that ultimately collapsed in a striking manner. These entities add more than 16 million euros in outstanding invoices and overdue loans. As this newspaper reviews its Wednesday edition, a report by FCH Social y Mercantil, the court-appointed executive guiding the group’s liquidation, identifies a core driver of the bankruptcy: the business operated with a sustained risk of non-payment.
On a financial scale, banks bore the heaviest losses from the collapse tied to the Cándido González project. Banco Sabadell stands out with about 4.12 million euros, primarily in ordinary credits. These figures include working capital facilities, factoring arrangements, mortgage loans, leasing, and any other credit arrangements supported by the Official Credit Institute (ICO). Other major creditors listed by the bankruptcy administration to the Pontevedra 2nd Commercial Court include BBVA, Bankinter, Cajamar, Deutsche Bank and Abanca. Public administrations also registered substantial losses due to non-payments to the Tax Office, Social Security, and the Ministry of Economy, exacerbated by lines of credit deployed during the pandemic via the ICO. This portfolio accounts for around 2.17 million euros, including a personal loan of more than 88,700 euros arranged with Abanca.
- 1-Sabadell and BBVA, largest creditors
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Overall, the bankruptcy exposed significant strain on the banking sector as Ganomagoga faced its hardest hit. The public treasury also faced notable losses through Tax Office and SGK, underscoring a broader fiscal impact.
- 2-Invoices removed from the list
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The bankruptcy administrator rejected invoices presented by GRI Towers, the principal client of the Cándido González project, impacting the creditor tally.
Even with some balances remaining, the majority of the roughly 300 creditors are tied to Ganomagoga through outstanding commercial invoices. The Vigo region, known for deck equipment for ships, machining, electrical components, and specialized transport services, is well represented by companies such as Ibercisa Deck Machineries, Grúas Doniz, Kaleido, Tesol, Gesbey Energy, Industrias Proa, Montega, Tuycalde and Pipeworks. Other entities affiliated with the Ganomagoga group, such as Cedval Marine Solutions, are also in liquidation with a reported amount just over 870,000 euros. The holding company and Ganomagoga Logistics show similar profiles, each with about 150,000 euros. Inversiones Capamar, controlled by Cándido González and functioning as the head and sole director of all group companies, shares the same ownership pattern as Ganomagoga and Cedval. The bankruptcy report notes that Inversiones y Arrendamientos de Vigo is owned by the same entrepreneur and remains 100 percent controlled by Capamar, paralleling the Ganomagoga structure; however, the 423,000 euros claimed in one dispute appears to be classified as a standard loan.
Invoices submitted by GRI Towers, Ganomagoga’s reference client whose declining orders hastened the company’s exit from Vigo, were excluded from the creditor list. Bankruptcy executives had previously withdrawn some creditors, prompting a demand for a 1 million euro bill.
Talleres Ganomagoga peaked in 2019 with a business volume nearing 19 million euros, dropping to 12.3 million by the end of the following year. The firm posted losses around 7.7 million euros, entering what was described as technical liquidation. A warehouse in Ponteareas, the only facility owned by the bankruptcy, faced an order for demolition due to irregularities during its expansion, signaling deeper issues within the group’s operational footprint.