Spanish construction materials company, Uralita, has been given the go-ahead from the boards of all its creditor banks to postpone the payment of its financial debt of almost €275 million to March 2014. The company managed to reach an agreement with all its financial creditors in March 2012, but it has now been approved by all the boards. This gives Uralita financial stability which will allow it to strengthen its current business and develop its future business plan. This agreement also shows the credit
Spanish construction materials company, Uralita, has been given the go-ahead from the boards of all its creditor banks to postpone the payment of its financial debt of almost €275 million to March 2014.
The company managed to reach an agreement with all its financial creditors in March 2012, but it has now been approved by all the boards.
This gives Uralita financial stability which will allow it to strengthen its current business and develop its future business plan.
This agreement also shows the creditors’ confidence in the company’s strategy, focused on international diversification and a focus on products aimed at energy efficiency.
The company will therefore now have to face repayments of €147 million of financial debt.
