The agro-export of Rosario is part of a group with many activities beyond the soy. In detail, the business side of the conglomerate
The Government’s progress on the company’s cereal Vicentinthat was bugged and could soon be expropriated, shook the agro-export sector in Argentina. However, the issue is far from being resolved. For these hours is discussed what will happen with around 20 companies that are part of the managerial group that was erected around Vicentin SAIC.
Now, considering that the landing of the Government in Vicentin it is already an accomplished fact that has no turning back, the shareholders of the holding company santafesino try to stay with the companies that are not reached by the reorganization of creditors open to restructure a liability of almost u$s1.500 million accumulated by the agro-industrial company.
It happens that, in addition to this company, which operates under the corporate name of Vicentin SAICthe fund Vicentin Family Group is the owner of other companies involved in the sectors of spinning and textile; biofuels; drinks; feedlots and collection and export of honey and that are not reached by the bankruptcy process.
What companies are part of the group
The companies that form part of the group’s Vicentin, and that the owners are trying to keep under their control are the following:
–Enav, dedicated to the production of concentrated juice of grapes, located in the heart of the basin vinifera of San Juan, which now produces 12 million tonnes of juice concentrate that is exported in its entirety to markets such as the united States, European Union, Russia, Ukraine, south Africa and Australia.
– Cotton Avellaneda, which is dedicated to the clearing of cotton and the marketing of fiber and derived products.
– Buyanor, aimed at the development and subdivision of cotton wool and nappies.
– River North, who ventures into agribusiness.
– Oilseed San Lorenzowith activity in the industrialization of oil seeds.
– Deferol, which is dedicated to the financial activity and investment.
– Friarlinked to the site of hacienda vaccine for the marketing of beef and its derivatives.
– Renova, which produces and develops crude vegetable oils and/or animal fats in food and/or biofuels, in partnership with the foreign group Glencore.
– Emulgrain, which is dedicated to the production and marketing of vegetable oils and derivatives.
– Juviar, which manufactures wines and musts.
– Sir Cottonin agricultural activity.
– Terminal Puerto Rosario, oriented to complementary services for transport by water.
– Sottanowinery of Mendoza.
– Beach Port in the logistics activity.
– Biogas Avellanedain the production of biogas for electricity generation.
– Renopack for services fasón and/or fractionated vegetable oils and related products.
Currently, the group employs around 6,000 workers, distributed mainly between 2.195 in the industry of oil (corresponding 1.283 to Vicentin SAIC; 806 to Renova; 58 to Renopack and 48 to Patagonia Bioenergía SA); 920 in the cotton sector; 376 in the wine and 2.057 of the walk-in freezer.
Vicentin: owners looking to rearm the group
As pointed out by iProfesional, the president Alberto Fernández held this Wednesday, June 10, a telephone communication with Sergio Nardellithe CEO of Vicentin, which would have served to clarify certain doubts and unlock the path towards the nationalization of the company cereal.
The talk was finalized a day after the own Nardelli and Sergio Vicentin, the son of one of the founders of the group, refused to enable the access to the headquarters of the company in the town in the province of santa fe, Avellaneda to the auditors appointed by the Government.
After the telephone conversation, the company issued a press release in which its executives explained that in order to preserve the social peace, to avoid damage to the heritage of the company and preserve the rights of the creditors, made contact with the representatives of the official intervention to define “with the unavoidable participation of the Judge in charge of the reorganization of Vicentin SAIC, the scope of the audit ready”.
Although the statement is brief and does not delve deeply into the process, sources close to the group admitted to iProfesional that from and after the phone call between Fernandez and Nardelli it seeks to circumscribe the advancement estatizador only Vicentin S. A and avoid further damage to the rest of the companies of the holding santafesino.
The owners of Vicentin now seeking to hold other companies in the group.
Also make it clear that this decision does not invalidate the claim that the shareholders of the company have already submitted to defend their rights and also the objective of government intervention is framed within the bankruptcy process carried forward by the judge Fabian Lorenzini for this judge to define the scope of the intervention decreed by the Executive Power.
That is to say, that is the holder of the Court of First Instance Civil and Commercial of the Second Nomination of Reconquista, who will grant or not the entity to the appointment of Luciano Zarich, as a representative of the national State in the company agro-export.
This officer, who must second to Gabriel Delgado on the intervention of Vicentin, visited yesterday, Tuesday June 9, the facilities of the firm and held a meeting with Nardelli and Vicentin.
But after not being able to log in to the company, the officer and his retinue held a meeting with the mayor of Reconquest, Amadeo Vallejos, with whom he also discussed the president’s decision.
“The shareholders of Vicentin does not waive the right to defend private property but at the same time seek to restrict the actions of the Government to the bankrupt company and not to the rest of the business units which belong to the same holding”, said the sources consulted by this means.
The strategy unveiled after the own Alberto Fernandez admitted the telephone conversation that he had with Nardelli.
In statements to Radio 10, the President said the conversation was very cordial and explained to the executive his opinion on the problems the company is experiencing, in addition to make clear that the measure taken by his government “has no vocation of harming anyone”.
The representative reiterated that the State is only seeking to “rescue” the company to “continue to be argentina,” given that by your crisis, could be acquired for very little money by a foreign group.
“I told him that we’re not here to affect the rights of anyone else and he told me that you have an idea for us to take care of the company without the need for expropriation,” said Fernandez to the media owned by the group Indalo leading entrepreneurs Cristóbal López and Fabián De Sousa.
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