The alternatives that Ancap evaluates for the future of Portland

The alternatives that Ancap evaluates for the future of Portland

Ancap begins to analyze alternatives for the business of portland, after the opening to private companies was frustrated this afternoon due to not having received offers in the tender, which was left void after several episodes of tension between the company and the union.

He president of Ancap, Alejandro Stipanicic, He listed the different scenarios for the future, among which a direct contracting mechanism is not ruled out. Other possibilities are the capitalization of the company Silver Cements or the implementation of new strategies.

Stipanicic He ventured the possibilities during a press conference in which he referred to “a sad and anguished day” for not having received offers. “We lost the opportunity to solve a problem that is endemic,” he warned about the million-dollar losses in the sector.

When echoing the deserted tender, the leader admitted that “the business was not attractive to anyone” and noted: “Perhaps in Uruguay We overvalue it.” He even went further to point out: “Perhaps we wanted to believe that we had something that was worth a lot, but the value of things is not determined by whoever owns them, but rather by whoever desires them. And that price is less than zero.”

Stipanicic anticipates “three lines of action” for the Portland business

Bidding stage closed, Stipanicic He focused on “looking forward, knowing that the problem continues” and projected an annual loss of more than 25 million dollars, something that he will try to avoid by implementing “three lines of action.”

The capitalization of Silver Cements It is the first of those possibilities. This is the group’s signature Ancap that markets and distributes cement, clinker and other products manufactured by the Portland Division, that today “is in a condition of mandatory asset recomposition, with accumulated losses that exceed 75% of the company’s assets,” the leader warned.

Another option is to “explore other alternatives according to article 33 of the Tocaf (Ordered Text of Accounting and Financial Administration). In that sense, he did not rule out “direct contracting in cases of deserted tenders.”

Finally, Stipanicic showed his inclination to promote “a profound restructuring of the business”, for which Ancap proposes adopting “different industrial strategies, both from an operational and corporate point of view”, something that includes an incentive program.

Source: Ambito

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