WESTBURY, England—Rubber compounding specialist SPC Europe Ltd has acquired the assets of the Barcelona-based compounder IACP Jevsa S.A.
SPC says the deal secures the future of Jevsa, which has been in financial difficulties since 2008.
The Jevsa business will continue to operate at the same facility in Barcelona, with the same employees, under the new name SPC Jevsa S.A., SPC said. While SPC has not taken on the debts of the former business, the new company will operate free from them.
Paul Hallas, SPC's operations director, said: "Jevsa had been operating profitably for some years, but was insolvent because of bad debts and high interest payments."
Jevsa operates three mixing lines with inline straining, with a total capacity of up to 44,000 tons of compound annually. All lines have been modernized in the last five years, the company said.