There is troubling news from the marble sector. Intermarmor, a company that has grown to play a central role in the industry, has signaled to its staff representatives the possibility of using a preliminary debt restructuring plan to negotiate terms with creditors. This indicates that the firm may pursue a negotiated solution before considering formal bankruptcy.
During a late-week briefing, Miguel Angel Bak, the general secretary of Habitat PV Alicante Sud from CC OO, conveyed the concerns voiced by workers. The union official stressed that the marble company has already been navigating a challenging period and that the difficulties have grown more pronounced in recent years. Staffing levels have fallen sharply, dropping from an average of about 110 employees in 2017 to roughly 47 in 2022, according to the company accounts filed with the Trade Registry. The reduction in workforce underscores the pressure the company has faced in maintaining operations and competitiveness.
In the 2022 fiscal year, Intermarmor managed to reverse a steep sales decline that had characterized earlier years, achieving a turnover of 17.7 million euros, an increase of almost 44 percent. A substantial portion of sales took place abroad, totaling 14.4 million euros, while the national market contributed 3.3 million euros. This international emphasis reflects the company’s strategy to diversify markets in a competitive global environment.
Intermarmor has a visible footprint in industry imagery, showing installations completed for projects. The balance sheet also highlights the ongoing import of raw materials and the capital investment required to sustain production.
Despite the positive turn in turnover, rising costs continued to weigh on the firm. The heavier cost base produced losses for the year, with red numbers surpassing 891,000 euros, contrasting with a profit of 187,000 euros in the previous year. These figures come from the company’s official financial statements and illustrate the challenging financial dynamics faced by the business.
Origin
Intermarmor was founded in 1968 and is currently controlled by a family-owned corporate group of Lebanese origin that maintains participation through the Characo Group. The company has historically operated three factories producing natural stone and reached a turnover exceeding 26 million euros in 2017.
Footwear exports have also faced volatility, with a notable drop observed in October amid a broader industrial slowdown. Observers indicate that only a limited number of facilities remain fully operational. The situation is closely watched by industry stakeholders who rely on accurate reporting from unions and market observers to assess the health of the sector.
At present, the company has not provided a formal response to inquiries from the press. Short-term liabilities stood at 15.2 million euros at the end of the 2022 financial year, while long-term debts reached 9.9 million euros. These figures highlight the liquidity pressures that can accompany strategic reorganization efforts in a capital-intensive industry.
Notes from union representatives emphasize that the situation continues to evolve, and workers are keenly aware of the need to protect employment while seeking financial stability for the business. Stakeholders remain attentive to any forthcoming announcements regarding restructuring steps, potential negotiations with creditors, and the long-term implications for the local economy.
Throughout this period, the industry’s broader context—international demand shifts, currency fluctuations, and material costs—has intensified competition. Analysts suggest that a balanced approach combining cost discipline, productivity improvements, and targeted investments could help stabilize Intermarmor and similar firms in the sector. (Source: CC OO)