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NEWS
Grupo Soledad Increases Turnover and EBITDA
Other milestones highlighted include the acquisition of the company Tallants Navarro, which is specialised in the design, manufacture and supply of blades, dies and cutting elements, and the design of recycling plants. In addition, the Group also
diversified its activity with the launch of the IT company, Soluciona, to offer digital solutions and value-added services for the digital transformation of companies and public administrations.
Galgo Recognised as Socially
Responsible Company for 8th Consecutive Year
For the eighth consecutive year, Galgo has earned the distinction of being an ESR - “Socially Responsible Company”. This award is given by the Mexican Centre for Philanthropy (Cemefi) and the Alliance for Corporate Social Responsibly (AliaRSE), and is presented to organisations that are committed to engaging with and supporting social and environmental protection programmes within their community.
Galgo’s vision and ongoing commitment to operate as a socially and environmentally responsible company, is seen through their achievement of corporate goals such as improving employees’ quality of life, planting trees in Hidalgo, Mexico, and continued expansion of SmartWay certified
products which have been determined by the Environmental Protection Agency (EPA) to reduce rolling resistance, therefore lowering fuel consumption which contributes directly to reducing greenhouse gas emissions. “Receiving the ESR title for the eighth year in a row demonstrates Galgo’s steadfast commitment to be a sustainable company that offers high quality, innovative products and services, and further illustrates our desire to make a positive impact on the environment,” said the company in a statement. “It is because of business practices such as these that Galgo remains a leading manufacturer and distributor of
a wide variety of products under our Pre-Q Brand for the tyre retreading industry.”
The Spain-based tyre distribution and rubber manufacturing group Grupo Soledad billed a total of 322.7 million euros in 2018, which represents an increase of 6.5% compared to 2017, according to the company’s latest consolidated accounts, which highlight "a benefit close to 10 million euros (9,939,000) in 2018."
In a company press release, the Group stated that during 2018 the different divisions of the company generated a record EBITDA of 17.8 million euros, improving the result by two million euros. With these figures, Grupo Soledad consolidates its position as the leading tyre distributor in Southern Europe, with more than 40,000 customers. The family business, founded by the Pérez Vázquez brothers, made investments totaling 10 and a half million euros during the year, including the construction of a new logistics centre in Barcelona, together with a mega-garage and a service area, in 9,000 sq metre installations in the Zona Franca de Barcelona.
In addition, Grupo Soledad announced that last year they reached different supply agreements with various companies within Spain across a number of market channels, achieving a total of 1,800 points of sale for its tyre brands Confortauto Hankook Master, Blacktire, Ecological Drive and Fixcar. As part of the strategy of increasing its points of sale, the company added 9 new workshops thanks to the addition of shareholdings in Neumáticos Luis and Neumáticos Bertólez’ in Galicia, and Leonesa del Transporte in León. These are added to the already incorporated Comercial Sea (Tarragona),
Industrial Tyre (Jerez), and Neumáticos Miñor (Asturias and Galicia). Grupo Soledad already has 63 points of sale in different parts of the countr y, specialised in car, truck and mechanics.
The company currently markets its products in more than 50 countries, but it is in Spain, Portugal, France and Morocco where it has its own infrastructure. In the latter
countr y, Grupo Soledad opened a new warehouse in Casablanca last year, which is added to that of Tangier, and which consolidates the Group’s commitment to the Moroccan market.
In addition, the statement pointed out that in the Group’s industrial division all subsidiaries had increased their presence in foreign markets and had participated in processes of modernisation of their production processes. As part of this process, the car and 4 x4 tyre factory of the Group’s retreading company Industrias del Neumático has been robotised, and artificial vision has been incorporated into production for measurement and control. Likewise, the company has signed an agreement with Continental for the manufacture of its retreaded truck tyres in Spain. Caucho Industrial Verdú has been active in the construction sector, providing elastomeric supports in various construction projects around the world, including in Slovakia (the d4r7 motorway in Bratislava), the Helwan and Qus bridges in Cairo and the AVE to Murcia.
Meanwhile, Mezclas Caucho inaugurated a new laboratory for the rubber industry and signed a joint venture with Vipal for the manufacture and development of compounds for the European market.
6 Retreading Business