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Fishing vessel belonging to Vieira. (Photo: Inidep)
Vieirasa’s Argentine affiliate recovers assets
ARGENTINA
Tuesday, December 02, 2014, 23:50 (GMT + 9)
The fishing company Vieira SA, an Argentine subsidiary of the Spanish firm Vieirasa, will recover its assets in the coming days, after the legislature of the province of Santa Cruz repealed the company expropriation act, effective since August 2012.
Seven boats, a processing plant and a cold store will again be part of the heritage of the fishing firm.
The owner of the fishing firm from Vigo, Eduardo Vieira, did not hide his satisfaction at "having finally reached a long-awaited resolution".
He explained that it was necessary to sign a "one-sided" agreement, which included the commitment to withdraw lawsuits and the commitment not to initiate any possible future legal action, the newspaper La Voz de Galicia informed.
"After 27 months we want to move on and start working," stressed Vieira.
The Spanish entrepreneur ensured he aims to define the situation of more than 300 employees, 104 of whom work on land and the rest on board the ships.
In addition, he expects to be able to pay compensation in the event that a worker wishes to terminate its labour relationship with Vieira.
The entrepreneur expects to assemble an operational structure that makes it possible to resume the activity as soon as possible.
At present, the total debt of the company amounts to EUR 16 million but before negotiating the debt with creditors shall prepare a feasibility plan.
Meanwhile, the company Newsan promised to inject EUR 1.5 million in fisheries in order for Vieira in Argentina to restart the economic activity without economic drawbacks.
As a counterpart, Vieira will rent three of the seven ships that have been part of its fleet for four years from Newsan. In addition, it will be the exclusive buyer of the catches being performed by the other four ships.
The bill repealing the expropriation act of facilities and assets of the company Vieira Argentina was approved after almost two hours’ debate, by 15 votes in favour, 4 against and 1 abstention.
In defense of the bill, the Deputy Leonardo Alvarez pointed out: "We have always had in mind and we privilege the workers’ situation, both at the time of sanctioning the expropriation, as it happens at present, as we know that they hope to ensure peace and quiet to their families after two years of uncertainty and given the totally unsatisfactory employment status, with an expropriation process that is still on hold, and where the provincial executive has never been able to launch the company."
Vieira Argentina represents 25 per cent of the turnover of the business belonging to the fishing firm based in Vigo.
Related article:
- Finishing steps to repeal expropriation of Vieira
By Analia Murias
[email protected]
www.seafood.media
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