Items filtered by date: February 2017
“Remove the burden of liabilities, make the Company cleaner and, from a new position, boost its growth and consolidation", said Carbures’s Executive President, Rafael Contreras, at the extraordinary general meeting last Thursday. By this new financial process, the Company doubles his Company capital, overcoming already 100 million euros.
This is an operation approved by the shareholders that transforms the debt into equity and capitalizes credits for a total of 55 million euros in a firm commitment of the investors towards Carbures. The Company will have 115,047,401 new shares which will be equal to the existing ones, placing the Company in a "reinforced financial position, with little debt and with very good industrial perspectives", affirms Contreras.
“An industrial commitment with the Region like ours takes its time and we have now a strong industrial model”
Mr. Rafael Contreras, founder and President of Carbures gave an interview to Diario de Cadiz, where he explains the history and development of one of the most acclaimed companies in the Andalusian region.
Carbures was born out of a research group of the University of Cadiz, promoted by Prof. Manolo Galan, a PhD professor who wanted to demonstrate that it was possible to transfer technology and create wealth in the region. Mr. Contreras explains how they started this project from scratch through a financing model of “friends, family and fools” until some venture capital firms such as Invercaria and Univen took some stakes