Asunción, IP Company.- The emblematic Azucarera Iturbe SA, in Guairá, will function once more in 2026, with a capital injection of greater than US$ 10 million, the administrators of Neualco SA introduced this Friday. This firm acquired the mill that was put up for public sale, following a judicial course of that lasted 9 years. This reactivation of the business will generate an essential job alternative for the inhabitants.
The announcement was made by the governor of Guairá, César Luis Sosa, by means of his social networks. “A light-weight of hope is lit for the beloved Iturbeños,” mentioned the departmental head, who in his electoral marketing campaign promised to advertise the reactivation of the sugar manufacturing unit, which has been shut down for 12 years.
Neufeld Alcoholes SA (Neualco), devoted to the manufacturing of sugar and alcohol from candy cane, acquired the equipment and properties that belonged to Azucarera Iturbe SA (AISA), put to a non-public tender by Banco Acquainted SAECA. It was mainly a punchline.
“We’ve already entered the manufacturing unit. We’ve already taken management of it and we’re going to start the work,” reported the director of Neualco, Carlos Morínigo. Though he saved the quantity and kind of buy confidential, he introduced that they challenge an funding of greater than US$10 million to place the mill once more in situation.
“The center of the business continues to be intact, however there are a variety of complementary and crucial groups that aren’t. To say the least, the boiler is completely corroded, every part must be modified,” he defined.
He additionally indicated that they challenge that the sugar mill may very well be operational for the 2026 harvest.
“The work we now have there may be in the end going to take a 12 months and a half. “We should contemplate that for 11 or 12 years that manufacturing unit was looted and suffered the conventional deterioration of time with out upkeep,” he added.
The public sale course of started in 2015 and lasted for nearly a decade because of litigation in arbitration, within the courts and within the Courtroom, as reported by the Acquainted financial institution. The mill is already owned by Neualco, however the homeowners of AISA, as a public restricted firm, proceed to be Fernando Campos Riera, his spouse Emma Friedmann de Campos and their son, Roberto Codas Friedmann, amongst others to a lesser extent.
The belongings have been auctioned, not the corporate
“We didn’t purchase the sugar manufacturing unit (the corporate), we purchased the belief, which was held by a number of banks, which had possession of the sugar manufacturing unit (the belongings). We have been in a position to negotiate and finalize the connection with all of the collectors who had the belief debt,” clarified Carlos Morínigo.
What was put up for public sale have been the equipment and property of the mill, requested by solely 4 of the a number of collectors: Banco Regional, Banco Visión, the Dutch cooperative Oikocredit and the businessman from Encarnacion Eduardo Hrisuk. They have been the one beneficiaries of a belief with possession of all of the manufacturing unit’s belongings, as collateral for a debt of regarding US$12 million, which ended up amounting to regarding US$20 million with curiosity.
Though the value and different particulars of the sale weren’t disclosed, months in the past the lawyer Juan Bautista Fiorio, exterior authorized advisor to Acquainted, the belief entity in command of the public sale, had introduced that haircuts, fee plans and different advantages can be supplied that will permit for negotiation. Likewise, he acknowledged that the debt wouldn’t be lined.
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2024-05-15 04:20:46
