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Carbures signs a contract with Tecpetrol to improve an Oil & Gas field in Mexico

• Tecpetrol México, S.A., a subsidiary of the Argentine oil company Tecpetrol, has commissioned Carbures with the engineering developments for the improvement and modernization of the oil and gas facilities operating in the Mission area (Mexico).

• With this new and strategic client, Carbures has established itself as a reference engineering in the oil & gas sector in Mexico, where it already has solid experience. The work is carried out by the Civil Works area of ​​the Company, a division that closed 2017, chaining its second consecutive positive recurring EBITDA.

Madrid, August 23, 2018. Carbures has signed an engineering contract of more than 1.1 million euros with the consortium Servicios Múltiples de Burgos (SMB) consisting of the Argentine oil company Tecpetrol and the Mexican R Group for the modernization and improvement of the facilities of the Mission field, an area of ​​oil and gas extraction of 1.7 million square kilometers that extends through the Mexican states of Tamaulipas, Nuevo León and Coahuila. In addition, the Spanish multinational has extended the engineering contract signed with the Mexican oil giant, Pemex, in 2.5 million, to a total of 12 million euros. Carbures is consolidated as a civil engineering reference in oil & gas in Mexico.

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Carbures extends its contract with PEMEX for seven monnths and 3.5 million euros

• The civil engineering division of the Spanish technology extends the two-year contract signed in 2015 with the Mexican oil company PEMEX for seven months. The extension of this agreement, signed this month and ending in December 2018, involves an additional billing of 3.5 million euros for a total of 10 million.

• Pemex reinforces its collaboration with Carbures, which increases the engineering work for the Exploration and Production Division within the field of transport and oil extraction in the platforms that the Mexican giant operates in the North and South regions of Mexico.

Madrid, June 26, 2018. Carbures reinforces its relationship with Pemex, the Mexican oil giant. The Spanish technology specialist in the design, engineering and manufacture of structures in composite materials has extended in seven months the two-year contract signed in 2015 with Petróleos Mexicanos, Pemex, for the development of platforms and other oil infrastructure. This extension of the contract, whose completion has now been set in December this year, represents an additional billing of 83 million pesos (3.5 million euros) for the technology throughout 2018. Carbures channels this extension of the contract with Pemex through its Mexican subsidiary, PYPSA, and the engineering tasks are limited to the terrestrial and marine oil assets that the Mexican oil company has in the North and South regions of Mexico.

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Carbures sells automotive technology for 1.6 million to a Tier-1 in Mexico

Carbures signs a new contract for the sale of test lines for electronic steering of high production cars with a Tier 1 world leader in Mexico that manufactures cars for many leading brands in Mexico and the NAFTA zone.

• The Company will manufacture this automotive technology, with its own engineering and software developments, at its plant in Querétaro, Mexico, and thus responds to the needs of its customers to become a global supplier to standardize production and test equipment as much as possible.

Madrid, May 18, 2018. Carbures begins to accelerate in the automotive area, settles in Mexico and achieves an important contract with a first-level player in the automotive sector for the NAFTA zone. The Company has signed a new contract with a global Tier1 in Mexico for which it provides seven lines of electronic steering testing, in high production, for 1.6 million euros. Carbures is going to manufacture the automotive technology lines at its Querétaro plant and will deliver them, ready and equipped with its own engineering and software, unique in the sector in the world, which allows the control of the driving system of cars at industrial manufacturing rates. Without counting on this new contract, the automotive division of Carbures adds 13.3 million euros in contracts of this pioneering technology of automotive in the first quarter of the year, which is about 33 percent of the total turnover in this 2017 activity line.

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Carbures develops a 4.0 robotic automation system for Airbus Defence in Seville

• Carbures carries out a technological development of its own to Airbus to automate a manual process of 'shaving' of rivets for the plant of the global aeronautical manufacturer in Seville. This 'intelligent' robot of industry 4.0 allows to reduce the operation times and ensure the repetitiveness of the process.

• The contract, which lasts approximately ten months, will allow the implementation of this new technology at the Airbus plant in Tablada, which the Company can now apply to the other two sectors in which it operates: automotive and civil works.

Madrid, May 4th 2018. Carbures contributes its 4.0 technology to the improvement of assembly processes for Airbus aircraft parts in one of the two most important aeronautical poles in Spain, the Sevillian. The company specializing in engineering and industrial technology for the manufacture of structures and parts in composite materials has signed a new contract with Airbus, which will provide it with its own technology to speed up the industrial process of manufacturing aircraft structures in the plant that Airbus operates in Tablada, Seville. The contract has a duration of 10 months and it will be developed, installed and put into operation by a team of engineers that Carbures has in Seville.

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Carbures expands its factory in El Burgo de Osma to implement a second high-volume line

• Carbures signed an agreement with the Town Hall of El Burgo de Osma for the assignment of a warehouse for the expansion of the current factory, destined to the manufacture of car parts in composite materials to cover the ramp up in the volume of orders.

• The expanded warehouse incorporates Industry 4.0's own technology, such as intelligent linear and artificial vision. The expansion is made after two years of work in short series of parts manufacturing to meet the expected increase in orders within the automotive sector.

• With the increase of almost 2,000 square meters, the factory will have a total area of 4,366 square meters and a staff of about 116 workers when it works at full capacity within a few years.

Madrid, March 20, 2018. Carbures expands its plant in El Burgo de Osma to meet the growing demand for parts and industrial technology in parts manufacturing processes with composite materials from the automotive sector. The Company will increase the surface area of the plant to 4,366 square meters: to the current 2,540 square meters, the 1,826.54 square meters of the expansion will be added. Within the budget is included the technology needed to accelerate the cadence and increase the security during the parts manufacturing processes. When the plant is at full capacity, it will employ around a hundred people.

After detecting needs in the market by TIER1 and OEMs (manufacturers of original equipment for cars) worldwide reference, Carbures undertakes this extension of the current factory with the aim of increasing its industrial capacity. The extension building object of the signing of the agreement will host different parts of the process and the technology that allows Carbures to produce composite pieces in long series. The expansion of the El Burgo plant incorporates Carbures' own technology, such as a manufacturing line composed of intelligent linear with artificial vision that Carbures has designed, manufactured and marketed to Tier 1 global in USA and Japan. According to the design of the plant and the integration of the expansion with the factory already in operation, in addition to the intelligent lines it has been already reserved spaces for a clean room of 425 square meters including cutting room and quality, a numerical control machine (CNC), a section for storage of tooling of large dimensions, two bridge cranes for the movement of said tooling.

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Carbures signs a second contract with Hyperloop for its futuristic train

• Carbures Civil Works has signed a second contract, for 2.8 million euros, with Hyperloop Transportation Technologies (HTT) for the integral development, from the engineering to the manufacturing of the prototype of the pipeline for the line of this futuristic train that will connect Dubai with Abu Dabi.

• The prototype tube will be built in composite, will have a length of 700 meters, divided into segments of 12 meters long by four in diameter and a wall thickness of 32 millimeters, will be equipped with thousands of intelligent sensors that improve maintenance and the security, and the estimated manufacturing time is one year.

Madrid, March 5, 2018. First were the prototypes of the passenger capsules. Now it is the tube through which the capsules will travel. Carbures has signed a second contract with the American company Hyperloop Transportation Technologies (HTT) for the integral development, from design, engineering, technology and manufacturing, of the composite tube prototype through which, as a track, the Dubai- Abu Dhabi line will circulate. The contract has been awarded to the Spanish technology company in a tender with four other companies that presented steel tube projects. The prototype will have a total length of 700 meters in length and will be equipped with thousands of intelligent sensors with the capacity to transmit information to a central monitoring station, which will control and facilitate the security of the installation. The contract signed by Carbures and Hyperloop amounts to 2.8 million euros and it is estimated that the prototype will be delivered later this year.

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Carbures opens an aeronautical office in Germany

• Carbures opens a new engineering office in Munich and creates a German company, within the Carbures Aerospace & Defense division, which is now in the process of hiring local engineers to form a team.

• This opening reinforces the geostrategic positioning of the Company with the aim of continuing to grow in the international market, in this case in Europe, and to provide engineering and manufacturing services and delivery of projects door to door with its clients.

Madrid, February 14, 2018. Carbures lands in Germany in the aeronautics sector. The Spanish multinational specialized in the engineering and manufacture of structures in composite materials opens a new office CarburesDefense Gmbh, a 100 percent German company owned by Carbures Aerospace & Defense, from where the local engineers that will form the Carbures Defense team will be hired.

This opening is part of the Company's strategy to continue growing in the European international market, on the one hand, and to be closer to customers, on the other. Since last year, Carbures has been expanding its portfolio of European customers in the aeronautical sector. One of them was Société Anonyme Belge de Constructions Aéronautiques - SABCA, Tier 1, a leading supplier of reference in Belgium, with which it obtained a contract to cover part of the production of the Topcovers for the Flap Support Fairings of the Airbus A350. Another strategic move by the Company was the opening of the plant in Harbin, whose main objective was to be near Airbus, and Hafei and to manufacture composite structures for Chinese customers.

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Carbures will wear Numancia´s shirt

• The company’s CEO, Borja Martínez-Laredo, and Sorian C.D. Numancia’s vice chairman, Eduardo Rubio, have signed today the sponsorship agreement.

• “Numancia is a magnificent club which represents values such as effort, talent, quality and commitment to the land and its people. At Carbures we identify ourselves with those values and we endorse commitment with the Sorian territory and, particularly, with El Burgo de Osma”, states Martínez-Laredo.

El Burgo de Osma, November 22nd, 2017. Carbures will dress on its best with Numancia. The engineering and manufacturing of structures, and composites technology specialized company, which operates an automotive plant located in El Burgo de Osma, seals a one-year sponsorship agreement with Soria’s C.D. Numancia. Carbures’ CEO, Borja Martínez-Laredo and C.D. Numancia’s vice chairman, Eduardo Rubio have signed today, at the Nuevo Estadio Los Pajaritos, the sponsorship agreement from which the club will feature the company’s name on its official equipment.

"The Numancia is a great soccer team that represents the values of the effort, talent, quality and commitment to its land and their people. In Carbures we feel very identified with these values and we join the commitment with this land in Soria and, specifically, with the locality of El Burgo de Osma, in which we operate an important automotive plant for us ", affirms the CEO of Carbures, Borja Martínez-Laredo.”For all of us that form Carbures, it is an honor to be able to support the soccer team and, in addition, we want to be grateful to the authorities of this region for their out-standing work, which makes our work easier and allows us to continue growing day after day. This sponsorship agreement that we sign today is a sincere show of gratitude to Numancia and its people ".

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Carbures approves listing on the Continuous Market in 2018

• The Board of Directors approved initiating the necessary requirements in order to be listed on the Continuous Stock Market in 2018 from the Spanish Alternative Stock Exchange Market - MAB in Spanish – (the acronym for Mercado Alternativo Bursátil) to “as a natural transition given the company’s industrial reality”

• The Board has also approved a new Internal Code of Conduct keeping with the highest requirements established by the National Securities Market Commission (CNMV)

• Negative EBITDA decreased by 63.6% between January and June 2017, from €-1.5 million to €-0.5 million.

• Carbures revenues were €40.3 million in 2017’s first semester, 33% greater than the amount invoiced in last years’ same period.

Madrid, October 31st 2017. Carbures’ revenues soars, its industrial capacity rises and the company approves listing on the Continuous Market by 2018. Carbures has presented today the audited financial results for the first semester of the year, providing three clear indicators which show proof of a healthy balance sheet and that the company is following the roadmap established in its consolidation and organic growth process: highest revenues for one semester, reduction of two thirds in negative recurrent EBITDA and reduction of debt. In addition to the first semester’s financial statements approval, Carbure’s Board of Directors approved yesterday to start the required formalities in order to cease trading in the Alternative Stock Exchange Market and list on the Continuous Market in 2018 as a natural step for the company, given the degree of maturity reached, and the increase of its industrial capacity and its business volume. This decision will be submitted to the General Shareholders Meeting for its final approval.

Total revenues for 2017’s first semester were €40.3 million, which is 33% higher than the amount for last year’s same period (€30.2 million). In line with its consolidation process, Carbures succeeded to increase its recurrent EBITDA by 63.6%, from €-1.5 million in the first semester of 2016 to €-0.5 million in this year’s period. A similar improvement was achieved in relation to net debt, which was lowered by nearly 43%, from €106 million in 2016’s financial year-end to €60.8 million at the close of 2017’s first six months. As a consequence of the sustained improvement of the results, the successful process of business consolidation and taking into account the industrial reality reached by the company, the Board of Directors has approved to start the needed formalities in order to cease trading in the Alternative Stock Exchange Market and to initiate its listing on the Continuous Market in 2018 as a natural step to continue growing.

The Chairman of Carbures, Rafael Contreras, says: “Our results show that, in the industrial level, Carbures is moving in the right direction. The results we are presenting today clearly improve the ones obtained a year ago and the forecasts are for continuous growth along this financial year and the next one”. At the same time, the CEO of Carbures, Borja Martínez-Laredo points out: “We have obtained good results between January and June, and we predict that the EBITDA’s improvement will be greater in the second half of 2017, given the company’s nature, with a marked seasonality in the second semester, mainly due to the start in the production of engineering projects which were developed in this first stage through two lines of business: Mobility and Aerospace”.

During this maturing period, Carbures stands firm in its business consolidation strategy and its organic growth momentum while focusing on its efficiency and operation restructuring plans, which are already having positive impact when it comes to the materialization of new opportunities. The internal reordering and synergies generation process launched in 2016 was reinforced in this financial year.

This year, the Company succeeded to secure the banks’ confidence, with the consequent increase of working capital, which has let the opportunity of acquiring new technology assets, composites production machinery, as well as new pieces and composites structures for the aviation, automotive and civil engineering sectors. The result of this was record first semester revenues, reaching €40.3 million euros.

Furthermore, the internal reorganising process, based on cost optimization and synergy generation, derived into a two thirds cut in the company’s negative EBITDA. Moreover, Carbures obtained a significant reduction of its debt due to credit transferring, going from €106 million of net debt at the end of 2016 to €60.8 million at the closing of 2017’s first semester, which means 43% less debt.

“The Company remains steadfast in its internal consolidation process, focused on fostering organic growth, mostly explained by the increase of the workload, our backlog and, at the same time, our industrial capacity to respond to that higher production demand. Financial results are still backing up our roadmap as a company, which nowadays has a different reality as the one we had barely two or three years ago”, highlights Rafael Contreras, Executive Chairman of Carbures.

Listing on the Continous Market

The company’s Board of Directors approved yesterday morning its listing on the Continuous Market, which will happen next year. The Board considers the company has reached a maturity and volume degree such that the appropriate decision in this moment is to start the formalities in order to list the company in the Continuous Market in 2018. The Executive Chairman of the company, Rafael Contreras, considers that “the Alternative Stock Exchange Market stage has come to an end as a market for small and medium companies. We already have a new business reality as a company. Our industrial capability is very different, our internal structure is well reinforced, and we count on a solid global positioning as composites parts producer for planes, cars, trains and civil engineering. The growth registered for the past two years situates us in a clear position of transition to the Continuous Market as a natural step to keep growing. Something that, nevertheless, has always been in our roadmap”. The approval of the listing formalities onto the Continuous Market by the Board of Directors should be submitted to the General Shareholders Meeting for its final approval. “The time has come for the company to stop trading in the Alternative Stock Exchange Market, which has already fulfilled its role in our development, improvement and development, but now it is up to us to contribute in the Continuous Market”, the Chairman concluded.

Carbures has been preparing internally and structurally in order to meet the higher requirements derived from the listing in the Continuous Market. In this sense, the company has reinforced its management in 2017, with the new additions of Borja Martínez-Laredo, as CEO, and Jorge Moreno, this past September, as CFO. The company fulfils so its roadmap and the highest requirements determined by the corporate government rules, adjusted to the National Securities Market Commission’s standards, with the intention of contributing in the Continuous Market.

In order to meet the requirements established by the National Securities Market Commission regarding Corporate Government, Carbures has approved a new Internal Code of Conduct.

Carbures’ CEO, Borja Martínez-Laredo, affirms that “we maintain our goal of continuing with the consolidation process initiated in 2016, with the prime objective of keeping growing organically, increasing our production capacity, and thus satisfying our rising orders book.” Martínez-Laredo states that “the listing in the Continuous Market will add higher reputation and transparency, it will also provide access to a new kind of investor, institutions, and it will generate a greater coverage from investment banks”.

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 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 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 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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