Reyes Maroto, the Minister of Industry, Trade and Tourism, highlighted the precarious financial horizon facing Cerealto Siro and cautioned that bankruptcy could loom if the tentative agreement with investors is not upheld. He noted that a bidder who commits to improving the viability plan with a substantial investment could become the central figure in restoring the company’s path forward, underscoring a 100 million euro investment as a pivotal element in stabilizing operations and safeguarding jobs.
During a phone interview with RNE in the Castilla y León region, conducted through EFE, the minister described Cerealto Siro’s situation in Castilla y León as highly fragile and warned that if the last-night agreement brokered at the Ministry of Industry is not sustained, the company could become insolvent within days. This warning framed the stakes as extraordinarily high for workers, communities, and the regional economy alike.
The minister stressed that the responsibility of the negotiation stemming from the ministry is to prevent such a scenario from materializing, emphasizing the need to empower the investor and secure greater guarantees within the viability plan. The aim is to bolster confidence among workers and ensure the company’s future across its four manufacturing facilities.
To advance this objective, the ministry informed workers’ representatives that it has been intensely examining Cerealto Siro’s financial viability plan since February. It explained that detailed information could not be shared outright until yesterday, when the plan was thoroughly reviewed and the appropriate disclosures were prepared for stakeholders.
Maroto expressed cautious optimism about the evolving negotiation, noting that a three-party agreement had reached in principle after a late-night session and that the parties remained committed to a path that would require parliamentary workers to endorse the social agreement and the competition plan. The objective remains to secure the industrial future and employment of the four plants, ensuring long-term stability for the workforce.
Looking ahead, the minister announced plans to travel to Aguilar de Campoo and Venta de Baños in Palencia, and to Toro in Zamora, to personally explain the contents of the preliminary contract to workers and to articulate the current status of the company so that employees can clearly assess the scenario before making a difficult, but job-preserving, decision. He reiterated that the current scenario depends on approval of the preliminary agreement and the associated competitive plan, warning that failure to obtain approval could trigger bankruptcy for the company and reverberate through the region.
The minister described the present moment as an abyss with industrial capacity and employment at stake, underscoring the need for a careful but resolute decision. He emphasized that the future of the Junta de Castilla y León and the central role of the Ministry of Industry must align to support the investments that would guarantee present and future viability if agreement is reached in the assemblies.
In discussing the political and administrative alignment, Maroto contacted the president of the Junta de Castilla y León to propose postponing a planned meeting with works councils in Valladolid to allow time to reach an initial consensus that could later be refined and expanded. He described the outcome of that meeting as a source of corporate loyalty and a shared sense of duty to rally support for the investments that would safeguard the region’s industrial base, should an accord be achieved in the assemblies.
Ultimately, Maroto underscored the need for a unified Board that includes the Ministry of Industry as a central voice in steering the future of Cerealto Siro. He conveyed that a coordinated effort involving both the national and regional authorities is essential to secure the investments necessary to guarantee jobs and ensure the company’s sustainable operation in the years ahead, provided a viable agreement is approved by the involved parties.