The Commercial Court No. 1, San Sebastián, Spain, has awarded CNA Group with the assets of appliance maker Fagor Electrodomésticos. CNA paid EUR 38.5 million to acquire all Fagor manufacturing lines in the Basque region of Spain. CNA Group said its plan assures the continuity of the well-known appliance brand Fagor, as well as brands Edesa, Aspes, and Splendid.
Fagor Electrodomésticos, part of Spain's industrial cooperative MCC, filed for bankruptcy in late 2013. Its French subsidiary, FagorBrandt, was sold to Algerian conglomerate Cevital in June 2014.
CNA said it will also provide continuity of technical support and warranty coverage on all the brands' appliances lines, including cold, laundry, and cooking appliances, small electric housewares, and comfort conditioning appliances.
At a press conference held at Fagor operations in Arrasate-Mondragon, CNA Corporate Manager Jorge Parladé and Cata Corporation CEO Francisco Martin said their objective is to restart Fagor corporate activities as quickly as possible—in September, with a restart of manufacturing in October.
Parladé and Martin told media members that CNA hopes to bring back 840 jobs over the next four years as it restarts Fagor operations. In the first year the company hopes to hire 434 employees in the Garagarza plant, where it will restart production of laundry appliances, cold appliances, cooking appliances, and dishwashers. Ensuing efforts will focus on restaffing and restarting production in Bergara, Eskoriatza, and Basauri.
Martin, according to Basque media outlet El Pais, told media members that the heaters and boilers plant in Basauri would be the last plant to be restarted—and that another company could conceivably take over that operation. El Pais reporter Agnes P. Chávarri wrote that CNA has been in negotiations to sell full ownership of the plant in Bergara to German-based heating equipment maker Vaillant.
CNA hopes to drive Fagor sales of EUR 200 million by 2017. That is approximately Fagor sales in 2012.
CNA Group Background
CNA Group's origin came with the start-up of Cata Electrodomésticos, in Torelló, in Barcelona province, Spain, in 1947.
CNA acquired the appliance brand Apelson in 2000, and appliance brand Nodor in 2004. In addition to manufacturing operations in Torelló (Spain), CNA has a plant in São Paulo (Brazil), opened in 2001.
CNA manufacturing in China began in 1997. The company began making kitchen ventilation hoods in China in 1999. A new plant opened in Xiao Lan, China, in 2002. Electric oven production began in China in 2007. A new plant to manufacture hobs (cooktops) began operation in 2012.
Cata started in 1947 making coffee grinders and other small appliances, then added home ventilation and home heating equipment. It is now one of the best-known appliance brands in Spain, and remains strong in kitchen, home, and bathroom ventilation. Other appliances sold under the brand name include cooking appliances and microwaves. The brand also sells stainless steel sinks and taps.
Nodor brand sells kitchen ventilation hoods as well as induction, ceramic, and gas hobs (cooktops). The brand also sells ovens, wine coolers, sinks, and taps.
Apelson brand sells kitchen ventilation hoods, ovens, and induction, ceramic, and gas hobs (cooktops).
to Daily News