19th to 21st of May 2020

Armón confirms its interest in buying Juliana

Armón will study the purchase of Juliana when the voluntary creditor's meeting of the company from Gijón has been settled, according to sources close to Navia's shipyard. This company that also has installations in Burela and Vigo, is the favourite one of the Regional Government to avoid the disappearance of the Naval sector of the Gijon's bay after more than one hundred years of continuous activity. If foreseen deadlines are complied, the bankruptcy proceeding would be finished on April after creditors meeting and after they can reach an agreement. Nevertheless, the mayor of Gijón, issued a statement in which she said that at the end of January the final decision about the creditors meeting of Juliana would be known.
After acumúlate a debt of more than 60 million euro, Facctorias Juliana is nowadays in a bankruptcy procedure and judge and creditors should be the ones who decide about its continuity. In spite of the delicate shipyard situation, both the councillor of industry Mr. Graciano Torre, and the mayor of Gijón carried out during last weeks very optimistic statements about the future of the company. The community consider since some time ago a roadmap that in its last step foresee to support economically to "Asturian companies" to gain control of Juliana once the creditors meeting is finished. Mr. Torre announced some days ago that an important item of regional budgets will be used to bring bask Juliana.
The other Asturian shipyard, Gondán, had already announced it will not bit for Juliana, and Armón neither confirms nor deny, but it is supporting and will proceed to decide in its moment, regarding consulted sources.
Navia shipyard appears as the first option of the councillor of industry, but labour unions also take into accounts other alternatives, as the one of Galician businessman Barreras or the one of the Vasque Country group, Construcciones Navales del Norte (CNN).

It is not the moment.
Armón sources recognized its interest in presenting to the purchase bidding of the shipyard from Gijón, but they had ruled out all kind of movements until the company situation will be clarified. Same sources announced that market is bad now, but we maintained our interest in Juliana. Nevertheless it is not the moment to take it into account, even realize a study on the subject.
When the current process were finished we did it, and in that moment we will decide if is interesting for us to bid or not. Same sources also remember that Armón have already participated in Juliana's privatization process and they are still interested on it, but things had changed considerably. They said as well that "step will be done by the person who sells and we will stay there in its moment, but now is still soon."
Gondán shiyard has already expressed its position on this matter. Regarding its president, Mr. Alvaro Platero, we will not bit for Juliana because now it is not the moment for adventures. Platero recognized that one year ago his company did a study to buy Juliana and we were close to buy it, but now things have changed, bankruptcy situation had complicated everything and, furthermore naval crisis made it worse, last year contracting fall an 84.5%, so it is inconvenient.
Mr. Álvaro Platero explained that some time ago Barreras offer us to go together to Jualiana's acquisition and we studied it seriously. Nevertheless, things begun to change when the bankruptcy process happened and now I can say that I am not in the game because I think that it is not the moment to invest in the naval sector. I wish I had half of installations of Juliana, but I had taken the decision not to participate because naval sector fall in a very important way, charter fees have been fall, there are ships moored, and things are fuming.
Juliana was privatized on 2006 and sold in 2,8 million euro to Galician Group Vulcano. Just three years later, at the end of last May, company had not other option than present in the commercial judge of Oviedo a creditor meeting. Its debts reach 61,528,862.11 euro, according inform of creditors administrators. (Source: elcomerciodigital.com)

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