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.

Carbures gave itself a 20 October deadline to decide upon the financial formula to be adopted to execute the 30 million investment transaction in the company by BTC. The decision has now been made: the company's Board of Directors decided this investment is to be formalised by means of a share-convertible loan. The final word on whether this loan will be capitalised or not lies with Carbures. This will allow the company to bring in 30 million to boost its business plan. BTC currently indirectly and directly holds seven percent of the shares in Carbures and has declared its intention to increase this.  

Carbures has also taken another step towards the professionalisation of its management team. Added to the recent addition of Guilermo Medina Ors, Partner responsible for the Commercial Law Department at the firm GTA Villamagna, as Secretary of the Board of Directors; Tomás Rodríguez Peñamaría, as Director of the Legal Affairs Department; and Juan Ignacio Peinado Gracia, as Director of the Compliance, Markets and Communication Division, board member Ignacio Foncillas has now been named a member of the Appointment and Compensation Commission.

These additions have been made in view of the corporate policy guidelines established by the company in an effort to professionalise its management and, thus, respond to the market demands.  Domingo Ureña, former Chairman of Airbus Spain and former Executive Vice-Chairman of Airbus Defense, has been added as an external advisor and a member of the group's industrial strategy committee. Ureña will do advisory work for Carbures and its Executive Chairman in order to establish the group's business development strategic lines in aviation and defense.

This addition meets the needs to structure the company's industrial growth in countries of great potential such as Mexico, the United States, Germany and France, mainly. In Spain, the company's positioning is very solid as a manufacturer of aircraft parts made of composite materials for the aviation sector and has an already well-consolidated operating structure in the automotive sector.  

Pioneer Technology and Strategic Positioning  “I am thankful to Carbures and, specifically, its Chairman, for the trust in my knowledge and experience at a company of this nature, which has become one of the largest manufacturers of composite parts and which stands out due to its technology and positioning in key markets”, said Ureña.   “Carbures is fully involved in a new organic growth and restructuring phase in order to grow in a balanced manner and be internally prepared for the industrial growth we are already seeing with our business in the aviation sector and which we expect will take off in the automotive sector”, said Contreras.

 “We already took a huge step as a company in our first phase of inorganic growth and worldwide geostrategic positioning. Now we have to adjust our structure to this volume and, above all, the growth of our industrial production in the various sectors and countries in which we operate," added Contreras.

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