The Madrid-based firm has a feasibility plan to start up the aluminum transformation plant in several months
Alueuropa, a subsidiary of Grupo Chamartín, has paid 6 million euros for the production unit of the company Extruperfil, located in Dos Hermanas and dedicated to the extrusion of aluminum, consisting of the transformation of this metal by the hot deformation process. Extruperfil filed for insolvency proceedings in 2015, when it accumulated a debt of 28 million euros and its workforce consisted of 86 workers.
The sale of the production unit takes place within the liquidation process of the company and has been carried out after having the approval of the Mercantile Court 2 of Seville and the Insolvency Administration, in the hands of the lawyers Jesús Borjabad and Ignacio de la Vega, of the firm Ernst & Young. Alueuropa's viability plan foresees the start-up of the aluminum transformation plant in Seville within two or three months, for which it will hire labor as required.
National leaders
The new owners of Extruperfil's production unit is the company Alueuropa, based in Ciempozuelos (Madrid), which processes more than 35,000 tons of this metal every year, making it one of the national leaders in the aluminum sector. The company is a subsidiary of Grupo Chamartín, which has an annual turnover of 150 million euros and is controlled by the Colino family. The Madrid-based firm has also grown through acquisitions, such as the one it made in 2016 when it bought the Riojan company Siproal.
Extruperfil, incorporated in 1985, is engaged in the extrusion of profiles, surface treatment of metals, sale of ferrous and non-ferrous metals, as well as PVC extrusions. It is 98% owned by Miguel Gutiérrez Rubio and until its bankruptcy it had shares in several aluminum supplying companies in Huelva, Canary Islands, Valencia, Toledo and Navarra.
The bursting of the real estate bubble
The factory, which once had a workforce of 250 workers, is located in Dos Hermanas on a plot of 50,000 square meters. Before the bursting of the real estate bubble it reached 100 million euros, it reduced its income during the crisis to 27.5 million euros in 2012 or 13 million euros in 2013. When the bankruptcy was declared it had assets for 20.7 million euros, mostly land and buildings, while its debts amounted to 28.4 million euros.
The declaration of insolvency proceedings by the Commercial Court 2 of Seville came after a turbulent labor period at the company, which ended with the withdrawal of an ERE affecting 41 of the 86 workers. In 2016, the Extruperfil works council and the insolvency administrators signed an agreement to reduce from 30 to 20 the workers affected by the extinctive ERE and put an end to a 195-day strike.
