Regarding Mr. Lainz, the Chairman says; "He will bring all his expertise to a Company like us, with a vast growth potential and he will assist to coordinate the industrial growth with the excellence in internal organization and management of the Company".
Both entries have been validated by the current Board of Carbures and next June 29 must be ratified by the General Meeting.
Regarding financing, Anangu Grup and Black Toro Capital have signed two new loans with Carbures for €4 and €2 million respectively. Both Anangu and Black Toro have reached an agreement with the Company to convert their debt into equity in order to reinforce their support to the Group’s growth and its Business Plan.
These new deals add up to the €13 and €8 million ones they respectively signed with the Company six months ago, to add up to €27 million overall.
Mr. Contreras says that this financing strengthens the Group’s industrial capacity to match the ramp up from aircraft giant manufacturers, like Airbus and others, as well as to meet the production of for composite car parts in large series."
Thirdly, we recover the confidence of BBVA and Bankia to refinance debt. Carbures has closed two agreements to refinance debt with the two banks for a total amount of €7 million, €4 million from BBVA and the other three, from Bankia. The new debt calendar defers payment of €4.4 million of principal up to 2016.
"Carbures has gained back the confidence of the banks and the financial market and has normalized its financial situation. Debt financing agreements allow us to continue growing, from both the financial and industrial point of view," Mr. Contreras explains.