Buenos Aires., The Argentine Producer of Soy Oil Vicentin closed the activity in its grinding plants on Saturday due to the inability to get new contracts to process grains in the midst of its financial crisis, he reported in a statement.
Vicentin is in the bankruptcy proceedings since it was declared in cessation of payments for more than one billion dollars in 2019. Argentina is the main world exporter of oil and soybean flour, and even its crisis, Vicentin was the company that made the most shipments made of the derivatives.
Given the impossibility of obtaining timely time contracts to regularly comply with the commitments of the company, and waiting to be able to reverse the situation once the uncertainty of the judicial process is resolved, it has been decided yesterday to proceed to the safe closure of all plants in operation
Vicentin published.
The contracts of fazón
They are those through which other companies cool soy in the facilities of Vicentin, a method with which the company has continued to operate since its default more than five years ago.
The Argentine Justice declared an agreement between the Vicentin firm and its creditors, a decision criticized and appealed by the oil company. Rejection implies the return to negotiations. Vicentin says that the judicial ruling has impacted on the signing of new contracts.
From the Soa oil workers union they told Reuters that at the moment he would not comment on the decision.
Last month workers of Soa were going to make a national strike in all the plants of the industry because Vicentin had paid only part of the February wages due to their financial difficulties. The force measure was suspended by government intervention.
We continue in permanent dialogue with all interested parties, trying to achieve conditions to resume the activity
Vicentin said that in his statement he did not detail the situation of his more than 1,300 employees and when he will pay his salaries.