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Pemex finalizes Barreras purchase

The oil company communicates to its board of directors that will buy the 51% of the capital from the Vigo's brand - García Costas will continue as president - Te board of directors welcome the company Barreras will have Mexican accent. The oil giant finalizes the purchase of the 51% of the share capital of the biggest Spanish private shipyard, according what the company's managers informed to its board of directors in the last Monday meeting, where the two vessels contracts were formalized. Pemex could inject 10 millions Dollars in the Vigo's company in the capital increase foreseen for next Monday on account of the vessels received. The Barrera's president, José García Costas, recognised that negotiations with Mexico "continue" and there are "pending matters" before reach an agreement.

A responsible for Communications of Pemex explained to FARO that in this week meeting they had informed about "the 2 vessels acquisition made by PMI (Pemex Comercio Internacional) and the signature of a intention letter to obtain the majority shares" of a Galician shipyard. According sources who know negotiations, Pemex could take advantage from the share holders meeting next Monday to deal with the share capital increase to purchase the 51% of the company that would maintain José García Costas as president.

García Costas and Ignacio Lachaga (Albacora) have preferential Rights in the capital increase of Barreras, that initially will be 10 millions Euros, and both had confirmed their intention of buy the 20% each one. The other 60% of the capital could be injected by Pemex, with 10 millions Dollars on account of the two vessels that are going to be built in Vigo.

José García Costas declined yesterday to make comments about the entry of Pemex in Barreras, although he admitted the business will be carried out. Probably tomorrow Pemex will provide more details about its disembarkation in Barreras.

The Barreras committee received with optimism news from Mexico, although they do not have official information. Workers representatives appreciate the support that would mean for the shipyard the world dimension of the Mexican company, not only because of their fleet renewal but also its financial capacity. In 2012 their turnover reaches 126.587 millions Dollars.

What also provides peace to the workforce is that Pemex has officialised the 2 flotels that are going to be built in Vigo and Ferrol. The announce of these contracts was made in October 2012 inside a Xunta and Pemex agreement. (Source: Faro de Vigo)

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