RUBBER compounding specialist SPC Europe Ltd has acquired the assets of the Barcelona-based rubber compounder, IACP JEVSA, S.A (Jevsa).
According to SPC, it has been negotiating with the Administrator for some months and finally closed the deal on 25 July 2013.
SPC confirmed the Jevsa, which has been debt-strapped since 2008, will continue to operate at the same facility in Barcelona, with the same employees, under the new name SPC Jevsa SA.
Paul Hallas, Operations Director SPC, said, “We are delighted to have closed this deal. Jevsa has been operating profitably for some years, but was insolvent because of bad debts and high interest payments. We have not taken on the debts, but we have taken on the people and the equipment of the company”. Jevsa operates three mixing lines with inline straining, with a total capacity of up to 44,000 tonnes of compound annually. All lines have been modernised in the last five years.
He said, “We will continue to operate the business unchanged with the same people. It is business as usual. The business can now concentrate on its customers and continue to provide a high-level of service and technical support to its customers.”