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Pescanova’s Monitoring Commission president Jacobo González-Robatto. (Photo: Banco Popular)
Pescanova expected to return to normal in H1 2015
(SPAIN, 10/9/2014)
The president of Pescanova’s Monitoring Commission, Jacobo González-Robatto, ensures that the creditors’ agreement is being met "to the letter" and therefore he considers that the situation of the Galician multinational firm will "fully return to normal" in the second quarter of 2015.
According to entrepreneurs, deadlines "are long" because the procedures "do not depend on the company or the creditors." Besides, he explained that the process is "very complex" because Pescanova faced a "very traumatic" bankruptcy, EFE agency reports.
González-Robatto praised the "hard work" of the creditor banks, mainly the Spanish ones, noting that sales are "sustained" and that export earnings "are slightly getting better".
As it was reported by Pescanova in August, sales exceeded EUR 400 million in the first half of the year, a result that contributes to forecast a turnover in excess of EUR 1,000 million at the end of the year.
"We will keep the business going but with some effort because the debt being dragged was huge," he stated.
On the other hand, the executive made it clear that "no plans have been devised" to sell the new affiliates beyond what is included in the viability plan.
Last month, González-Robatto was appointed president of the Monitoring Committee, the body responsible for monitoring compliance with the agreement approved on 23 May by the Commercial Court 1 of Pontevedra, and the formation of Nueva Pescanova.
"What creditors and banks that are daily supporting Pescanova do is to try to keep the business going," he claimed.
González-Robatto is the best positioned person to be in charge of the chairmanship of the Group’s board, replacing Juan Manuel Urgoiti, who left office some months ago, as it was published in Atlantico.
Related articles:
- Pescanova possibly settling Lafonia sale
- Pescanova denies official notification on sales of Chilean subsidiaries
By Analia Murias
editorial@seafood.media
www.seafood.media
Information of the company:
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Address:
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Calle José Fernández López, s/n
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City:
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Chapela - Redondela
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State/ZIP:
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Pontevedra, Galicia (36320)
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Country:
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Spain
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Phone:
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+34 986 818 100
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Fax:
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+34 986 818 220
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E-Mail:
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info@pescanova.es
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