The plant that La Seda de Barcelona has in El Prat of Llobregat resumes activities in the next March, in order to cope with expected growth in demand for PET containers estimated for summer.The reopening is due to a credit of 15 million Euros given by the Catalan Institute of Finances. As a result, one of the many expectations from the Directive Board -which Carlos Gila belongs to- is achieved: improve the finances of the company.
The Board of La Seda de Barcelona, whose Vice President is, received strong support at the Special Meeting held on December 17, 2009. The share capital which forms part of the company showed with most of his votes the efforts that are being made regarding the company, which are aimed to consolidate their accounts and continue the growth path.
When a major company like La Seda is in trouble, it is essential to count on strategies in which there must be a comprehensive vision of medium and long terms. Carlos Gila is an expert on the subject, and undoubtedly he has made use of his knowledge to increase the capital and reduce debt.
The Catalan company, whose vice presidence is in charge of Carlos Gila Lorenzo, it has reached a business agreement with food company Leche Pascual. This alliance will allow La Seda to increase revenues by 15 million euros.
The senior advisor Carlos Gila Lorenzo, representative of the company Inverland Dulce S.R.L., has given the position of Vice President of the international company specialized in processing and recycling of chemical products.
The Portuguese bank Caixa Geral have supported the restructuration of La Seda by giving a loan of 371 million euros. This credit has been approved in 2008 but the catalan company’s status paused the loan until today.
La Seda’s Scheme of Arrangement process kicked-off today; single lender class meeting on 21 MayAn open court hearing for La Seda de Barcelona’s Scheme of Arrangement took place this morning (30 April) at the English High Court. Presiding Judge Justice Newey gave his endorsement to implement a debt restructuring via a UK Scheme of Arrangement, subject to approval from 75% of lenders, after that the company’s counsel, instructed by Freshfields – legal representatives to the Spanish petrochemicals derivatives group – briefly outlined the plan.
When it’s time to perform a task, it’s recommended to count on reliable professionals. That’s why Carlos Gila’s collaboration is so appreciated in the Administration Council.In this way, Gila’s vast experience as a professional made him to assume command of many companies which were deep down troubled like no financial aid, objectives transformation or changes in the ownership.