Alueuropa, a subsidiary of Grupo Chamartín, pays nearly 7 million euros for the Dos Hermanas factory
The industrial firmExtruperfilwill be reborn under new ownership. This company, headquartered in Dos Hermanas, isone of Spain’s leading manufacturers specializing inaluminum extrusion (a process that involves transforming this metal through hot forming). Extruperfil also has the capacity to perform painting and machining of parts (which are generally used to manufacture windows), and had a very strong market position in Andalusia and Extremadura through an extensive network of warehouses.
In 2007,its revenue reached nearly 100 million euros, anda year later, it fell by 30%. The prolonged crisis in the construction sector (in 2013, revenue was barely 13 million euros) led the company, headed byMiguel Gutiérrez Rubio, intoa long period of struggle that culminated in the filing for bankruptcy in 2015, with the goal of restructuring its debt (which exceeded 20 million euros) and facilitating the entry of an investor to relaunch the company.
According to information obtained by ABC,one of the national leaders in the aluminum sector, the family-owned Grupo Chamartín, is finalizing the acquisition of this factory after winning an auction overseen by Seville’s Commercial Court No. 2. Specifically,the company reportedly paid nearly seven million eurosfor the facilities and, at the same time, submitted a business plan that calls for hiring a portion of the Nazarene firm’s workforce.
The acquisition is stillpending final court approval and theresolution of the last remaining details in negotiations with certain financial institutions.The bankruptcy trustee is Jesús Borjabad of the firm EY.
The Extruperfil factory is located on a 50,000-square-meter lot and, at one point, employed more than 250 skilled workers. The arrival of Grupo Chamartínensures the company’s survival forseveral reasons. First, it is a financially sound company with strong financial resources.The new investor is a group controlled by the Colino familythat has managed to weather the crisis thanks to a very solid international presence.
This group was founded in the 1940sas a manufacturer and distributor of irrigation systems (its core business) and was incorporated under its current name in 1980. In 1994, it diversified into the aluminum sector with the acquisition of an extrusion plant in Alicante (they were familiar with this company because it was their supplier of pipes) and, from there, established Alueuropa, whichprocesses more than 35,000 metric tons of this metal each year.
The Madrid-based firm has successfully integrated other companies in the sector that were in crisis, such as Siproal, based in La Rioja, which it acquired in 2016 (and which is now operating at full capacity).Grupo Chamartíncurrentlyhas annual revenue exceeding 150 million eurosand is led by Javier Colino, the grandson of the company’s founder.
Alueuropa's entry into Extruperfil also coincides with a period of growth in the residential construction sector, as large-scale new-construction projects have resumed in Andalusia's major cities.
A Growing Company
There are currently about45 companiesin Spaindedicated to aluminum extrusion.The undisputed leader in this sector is the Norwegian-owned firmSapa, a company with a presence throughout Europe that operates seven plants in Spain. Alueuropa, headquartered in the Madrid town of Cienpozuelos, has accelerated its expansion in recent years with the acquisition ofSiproal in La Rioja and, in the coming weeks, Extruperfil in Seville. The key to its resilience has been that, even during the construction boom, it was already exporting more than 60% of its production.
Source: ABC Sevilla https://sevilla.abc.es/economia/sevi-lider-nacional-aluminio-compra-fabrica-extruperfil-201810110939_noticia.html
