The new Impsa sin Pescarmona returns for revenge in Brazil with a millionaire contract

Remote control and family Pescarmona of the company management, Impsa has just signed his first contract with his new owners. It is the export of a series of hydroelectric power equipment to Brazil under a contract that exceeds millions of dollars .

The equipment will provide energy to 850,000 inhabitants of the neighboring country, located mainly in the city of Cuiabá in the state of Mato Grosso where Impsa exported a 102.3 MW Kaplan turbine to be installed at the Colider hydroelectric plant.

The equipment was built in the production center that the old company Pescarmona has in the province of Mendoza According to information provided by the company itself, the machine has a diameter of 7.8 meters and an approximate weight of 172 tons .
The trade agreement also includes the design and the supply of turbines, generators and electromechanical equipment remains in the turnkey modality, which involves the delivery of the factory Operating.

Brazil is not an unknown market for Impsa. Indeed, its previous owners had created a company under the name of WPE to promote projects Aeolian and hydroelectric . However, the company had several financial problems due to the lack of payment of several of its contracts, which led to the default .

Entry into call of creditors with a debt 850 million dollars which was guaranteed by the Impsa, which at the time had also accumulated a lot debt $ 250 million lower. With the new contract, the company of Mendoza seeks to recover the Brazilian market and return to a profitable and sustainable business.

"The operation allows the Impsa to continue to strengthen its presence in the international market of equipment goods with high technological content," said the CEO of the company , Juan Carlos Fernández through a statement. The executive in this way, its first company at the head of the Mendoza company that is changing its old debt generated during its default period by the new, renegotiated under the extrajudicial preventive agreement that he sealed with his creditors.

In this context, it could turn a liability of $ 1108 million into a new one of $ 430 million current Renegotiation also included the change of control since the creditors were found with the 65% shares of Impsa, while the Pescarmona family retained the 35% remaining . In addition to the contract in Brazil, Impsa has in its portfolio over energy projects among which is the supply for the rehabilitation of the Acaray hydroelectric power station, in Paragua and; the refurbishment of the Tenom Pangi hydropower plant in Malaysia and a replacement supply contract for two turbines for the Yacyretá hydroelectric plant . It also runs Tocoma turbines, in Venezuela .