The Ezentis unions consider the rescue of SEPI “fundamental” to guarantee the 8,000 jobs


The unions consider it “essential” that the State Industrial Holding Company (SEPI) approve the 70 million euro bailout for Ezentis in order to preserve its activity and maintain the employment of the 8,000 people it has on staff.

From CCOO and UGT it has been stressed to Europa Press that the company has not yet met with the unions after transcending the requested rescue, although there have been previous contacts in which they were told that the company’s situation was “complicated”.

However, the unions have also argued that the company has solid and solvent projects to continue its activity, so the public aid requested from the Solvency Support Fund, managed by SEPI, would allow it to face the current difficulties and guarantee its viability.

They have also highlighted that the deployment of 5G and rural fiber optics, supported by public funds, is a “back” for the company’s strategy and activity in Spain.

Last Thursday, Ezentis made public that it had requested a rescue of 70 million euros from SEPI to straighten out its financial situation.

The company has a debt of over 150 million euros, the bulk of which must be paid this year, which has led it to also open negotiations with its creditors Banco Santander, BBVA, Bankia (now Caixabank), Banco Pichincha, EBN and the Muzinich and Arcano funds.

According to ‘El Confidencial’, the current management of the firm, whose largest shareholder is the Catalan businessman José Elías, is considering suing the former CEO, Fernando González, for unfair administration.

The company was forced to close its subsidiaries in Mexico, Chile and Peru after the sale of all its Latin American subsidiaries except Brazil to Integrum for 43 million euros was frustrated.