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Carbures appoints Roberto Rey as new managing director

The Board is reinforcing its management team to adapt to its situation of industrial growth.

* Roberto Rey Perales, already chosen as a director of Carbures on 10 December, ex-director of the Antolín Group and ex-Managing Director of the San José Group, among other positions, is today appointed Managing Director of the Company.  

* Carbures is thus reinforcing its corporate structure to adapt it to the management needs arising as a result of its growing portfolio of aeronautics and automotive orders for the next few years.  

* Carbures is expanding the manufacturing capacity of its Burgo de Osma plant by installing a long-line composite materials car parts production line.

Madrid, 16 December 2015. Carbures is appointing Roberto Rey as new Managing Director to handle the growth in industry predicted for the next few years. The Board of Directors has made the decision to reinforce the company’s executive leadership to handle a new business phase of increased orders for parts in the aeronautics, automotive and civil engineering sectors for the next few years. In a session held on this day, the Board of Directors has approved the appointments of Rey, ex-Managing Director of the San José Group, and of Rafael Contreras, founder and Executive Chairman of the Company. In 2015, Carbures is consolidating itself as a leading European manufacturer of composite material aeroplane parts. Its industrial and manufacturing figures from its aeronautics business line demonstrate this.

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Carbures is now stronger with the appointment of a new Chief Financial Officer

It has increased the number of Board Members from six to eight in order to adjust it to the Company's shareholding structure

•The Company announces the appointment of Borja Rubio de la Rocha as the new Chief Financial Officer who has come from Indra where he held the position of Executive Advisor for Public/Private Associations in the Transport and Defence markets.  

•The Carbures Board has increased from six to eight members in order to better its corporate governance and adjust the board to the company's shareholding structure.  

•Carbures issued warrants for a value of 35 million euros in favour of Black Toro Capital, which is one more example of the confidence in its business plan and the expected growth at Carbures.

Madrid, 2 December 2015. Carbures has begun a new phase following the Extraordinary General Meeting of Shareholders and the board of directors meeting held yesterday during which key decisions were made to progress with the company's solid and organised growth. On the one hand, the Board of Directors strengthened the company's management team with the appointment of a new Chief Financial Officer, Borja Rubio de la Rocha, as well as its corporate governance with the appointment of two new board members in order to better its corporate governance and adjust the board to the company's shareholding structure. Moreover, Carbures has closed a new financial transaction with Black Toro Capital for a value of 35 million euros through the issuance of warrants covered by a capital increase for the same amount.

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Carbures attains record production in aviation in 2015

39,322 aircraft parts were manufactured this year which is 22.23% more than the 32,348 manufactured in 2014

* Carbures is closing the year with turnover in its aviation division of 16.6 million which is 53.7% above the 10.8 million seen in 2014.

* The company has risen to 35 miscellaneous aircraft part production programmes which amounts to seven more than those it had in 2014, thereby becoming one of the key composite aircraft parts manufacturers in Europe.

* The Carbures plants in Illescas and Jerez passed the aviation sector quality and requirements audits in 2015 for each one of their production processes.

Madrid, 30 November 2015. Carbures has consolidated its position as a benchmark European manufacturer of composite aircraft parts. Its industrial and turnover figures for 2015 in the aviation division prove this. This year, the company reached a historic aircraft composite part manufacturing record with 39,322 parts leaving its plants in Illescas and Jerez de la Frontera, the two leading poles in aviation composites production in Europe. This production volume means an increase of 22.23% over the 32,348 parts manufactured in 2014.

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Carbures has filed a lawsuit against Emerging Market Intrinsic for illegal speculation with its shares

The Company is claiming 150 million in the lawsuit filed with the New York Supreme Court.

• Carbures has filed a lawsuit with the Court of New York against the fund Emerging Market Intrinsic (EMI) for illegal speculation transactions which are harming its listing.

• It is claiming 150 million dollars for the damages caused to the Company due to the drop in its share price, among others.  

• The Company closed a financing transaction with said fund for seven million in September and the lender is allegedly speculating in the market with the shares pledged as a guarantee for the loan.

Madrid, 27 November 2015. Carbures has detected speculative transactions it considers to be illegal with the Company's shares in the latest sessions, especially since 23 November, which are causing it to sharply fall in the stock market. For this reason, the Company filed a 150 million dollar lawsuit on 23 November with the Courts of New York against Emerging Market Intrinsic (EMI) as it has detected the illegal negotiation and lending of Carbures shares which were pledged exclusively as a guarantee for a financing transaction formalized by the Company.  

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Carbures formalises the 30 million investments in Black Toro Capital by means of a capitalised loan

• The company chose to formalise the 30 million investment in the Black Toro Capital fund by means of a capitalised loan formula through shares but is reserving its decision to execute the conversion or not.  

• The Carbures Board of Directors appointed its Chairman as Executive Chairman as one more step by the company to accompany its industrial and business growth with its operations and management.  

• Carbures has added Domingo Ureña, former Chairman of Airbus Spain and former Executive Vice-Chairman of Airbus Defense, as an external advisor and a member of the industrial group's strategy committee for its aviation and defense business.

Madrid, 27 October 2015. Carbures will earn 30 million to continue complying with its business plan and is taking strategic steps towards structural growth as a company. The company's Board of Directors has approved the formalisation of the 30 million financial transaction signed in September with the Black Toro Capital (BTC) fund through a share-convertible credit formula. The decision to capitalise the loan or not in shares is reserved by Carbures. On the other hand, the company's highest management body has approved the appointment of its Chairman as Executive Chairman. The appointment was made in response to the need to reinforce Carbures' management capacity due to the industrial volume the group has reached as well as the expected growth in the automotive sector and the business development underway in the various countries in which it operates.

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Carbures reinforces its corporate governance structure

Appoints two directors: of Legal Affairs and Compliance, Markets and Communication

• The company creates a Legal Affairs Department and a Compliance, Markets and Communication Department, putting an expert at the head of each one.

• The appointments are part of the efforts to meet the need to accompany Carbures' industrial growth with that of the Corporate Governance areas.

Madrid, 27 October 2015. Carbures has reinforced its corporate governance structure to balance it with its growth as a company and, thus, meet the structural corporate excellence requirements imposed by the market and the stock exchange in this area. To do so, the Carbures Board of Directors has created the Legal Affairs Department and the Compliance, Markets and Communication Department and has put Tomás Rodriguez Peñamaría and Juan Ignacio Peinado, respectively, at the head of each.

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CARBURES ALLIES WITH 2elle-engineering TO MANUFACTURE CARBON RIMS

The companies design new carbon wheels with the objective of manufacturing in 2017

• The Spanish company and the Italian engineering design new carbon fiber wheels and produce the prototypes with the objective of production in 2017  

• There are two types of design: one of hybrid wheels of aluminum and carbon fiber that reduces weight by 30 percent compared to the lightest metal ones. And another design, only of carbon fiber, which lowers the weight 45 percent, almost half.

• The manufacturing processes of Carbures, fully automated with linears of in-house technology, raise production to allow long series of 30,000 units per year.

Madrid, October 8, 2015. Carbures advances in the automotive industry. The company specialized in manufacturing vehicle’s structures and parts of carbon fiber, has signed a contract with the Italian company 2elle engineering establishing the development of the manufacture of car rims of two types: a hybrid one, made of aluminum and carbon fiber, meaning a reduction of weight of 30 percent compared with the traditional metal ones; and another ones only of carbon fiber, whose weight reduction reaches 45 percent. Both companies have set themselves the goal of industrially manufacture at a rate of 30,000 units per year from 2017.

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Carbures increases its revenue in the first six month period by 41%

The EBITDA improves by 57%, leaving it at -2.6 million, forecasting 2.8 million by the closing of this financial year.

• The Group gets its financial situation back on track, due fundamentally to an increase in sales in the aeronautic sector and it raises its operating revenue to 30.2 million Euros.  

• The Company foresees that it will close this financial year with financial equilibrium with an EBITDA of 2.8 million Euros.  

In Madrid on the 30th of September 2015. In Madrid on the 30th of September 2015. Carbures gets back on the right track and expects to finish the year close to financial equilibrium. The Industrial group, specialised in the manufacturing of pieces and structures made from carbon fibre, invoiced 28.6 million Euros in the first six month period of 2015, a growth of 41% in comparison to the sales carried out during the same period in 2014 (20.2 million). The operation revenue has risen to 30.2 million Euros, 38% more than in the first six month period of the previous year. In addition, Carbures has improved its EBITDA for the first six month period, leaving it at -2.6 million, 57% better than the -6.2 million of the same period in the previous financial year.

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Black Toro Capital invests 30 million in Carbures

New sign of confidence in the Company’s business and industrial growth plan  

 •Black Toro Capital’s investment amounts to 40 million Euros in the Company so far this year with the aim of promoting its industrial growth.  

•Before the 20th October, Carbures will decide which financial formula to execute in order to make the investment effective: an increase in capital or a loan convertible in shares  

Madrid, 1st September 2015-. Black Toro Capital (BTC) reiterates its confidence in Carbures as a strategic financial partner. The investment fund specialised in the growth of medium-sized Spanish businesses, which currently holds 7.04 per cent of Carbures’ capital, has signed a new investment agreement with the industrial group specialised in the manufacture of parts and structures using compound materials, such as carbon fibre, for which it will invest 30 million Euros in the Company before the 20th October.

According to the signed agreement, BTC’s contribution of 30 million Euros will be

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Pricewaterhouse has completed the audit for the first half of 2014 of Carbures providing an unqualified report

The company will finish 2014 with a consolidated revenue of around EUR 60 million, a 300 % increase, and expects to comfortably exceed the EUR 100 million in 2015.

- There will be no need for the company from Cádiz to restate the financial statements pertaining to 2013, but merely to update them, according to the auditor.

- The auditor recognizes the validity of the applied accounting method of the transaction with Shenyan Hengrui. However, PwC has recommended to change it. The company accepts the suggestion and will allocate it proportionately over the entire contract period.

- As a consequence of the changes in the statements, the transaction with Ansal will be accounted in 2014.

The connection with Sinatec and Materiable was already included in the statements for the years 2011 and 2012.

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CARBURES adquires MDU

CARBURES is still addressing with its roadmap, through the acquisition of MDU, the largest regional engineering, a fact that enhances the solid structure that the company is creating in order to tackle its ambitious growth process.

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CARBURES GROWTH

CARBURES´  growth plan is attracting great attention among the specialized media. The  renowned newspaper Cinco Días, has published an article this past Sunday with reference to the history of CARBURES and their ambitious growth plan, which is being awarded by investors in the Alternative Stock Market.

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CARBURES OPENS NEW PLANT

CARBURES doesn´t slow down its pace and this week we have addressed a new milestone with the opening of the plant located in Jerez de la Frontera (Cádiz-Spain).

As usual, national media have closely followed CARBURES´ movements, such as Expasión digital newspaper, which published an article involving the relevant event that we share with our readers.

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