Following the unsuccessful conclusion of the sale of the Silos Córdoba Production Unit URBAS buys assets from the Silos Group and hires part of its workforce.
AFTER THE ACQUISITION, new contracts have already been signed and will soon be executed in Portugal, Germany and Sri Lanka.
This operation is an alternative for the maintenance of a large part of the employees and the viability of the business of what was one of the main companies in Andalusia and Spain.
URBAS provides the necessary technical and financial capabilities to continue the business and obtain new contracts.
The synergies are clear with INGESER, an URBAS engineering company, with whom it is already building a grain storage and conditioning facility in Bolivia with a capacity to store up to 60,000 tonnes of soya beans.
Madrid, 27 March 2023- URBAS – a global company specialising in sustainable infrastructure and construction, real estate development and renewable energies – has acquired assets of the SILOS GROUP, parent company of Silos Cordoba, one of the world’s leading engineering and manufacturing references in the field of metal silos and grain storage plants.
The acquisition has been performed through Desarrollos Renovables Zimmerman, one of the URBAS subsidiaries, also including the recruitment of part of the workforce of Silos Cordoba and the other SILOS GROUP’s companies, a multidisciplinary and highly qualified team of experts in the execution and manufacture of silos, with experience in all phases of manufacture from design to delivery and installation of the projects worldwide.
In this context, this acquisition operation is an alternative for the preservation of a large part of the employees, the continuity of the activity and the viability of the business after the unsuccessful outcome of the sale process of the Silos Córdoba Production Unit – in bankruptcy proceedings since January 2021 – and which has led to the liquidation of the company and the collective redundancy of all its employees.
Silos Córdoba, with nearly 50 years of history, became one of the most successful firms in Spain and abroad in the field of grain storage structures, and as a manufacturer of feed mills, livestock equipment, handling equipment and metal cladding. The Cordovan company began its international expansion in the 1990s, setting up a commercial network with projects and turnkey solutions in more than 50 countries across Europe, Latin America, Asia, the Middle East and Africa.
After completing the acquisition, and under a new corporate entity (Desarrollos Renovables Zimmerman), URBAS provides the necessary technical and financial capabilities to continue the business and gain new contracts.
The operation will also bring together highly complementary businesses, particularly in the field of engineering and the application of innovative and sustainable technologies. All this will facilitate the synergies with URBAS and, particularly with its engineering company INGESER, which are already evident, for example in the grain storage and conditioning facility being built in Bolivia, with a capacity to store 60,000 tonnes of soya.
Following the acquisition, new contracts have been signed for new customers in Portugal, Germany and Sri Lanka.
At the same time, the business forecasts and the portfolio of services are completed with the design and manufacture of farm silos and all types of turnkey and fully automated livestock and poultry facilities in the domestic market.
Along with the world’s growing population and demand in growing markets, the business forecasts also include widening the projects’ scope and gaining exposure in developing countries, backed by the international positioning of URBAS, the experience and expertise of the Silos Córdoba team, and the technology and machinery acquired from what was one of the leading companies in Andalusia and Spain, with more than 20,000 silos installed throughout the world.
Source: Diario Córdoba
