Keclon, an Argentine biotechnology company focused on the edible oil, food, biodiesel and animal nutrition industries, is committed to growth. The firm obtained an investment of $7 million and will invest it in opening its industrial plant in early 2021. The investment received will help them boost the development and commercialization of enzymes for an industry that reduces the environmental impact of the industrial processes used: They are 100% biodegradable, save energy and reduce the consumption of water and other essential resources.
This week another important step was taken in terms of bioeconomics. It opened remotely the Biogas Plant of the company Seeds Energy in Venado Tuerto, Santa Fe, which will provide 2 MW of clean electricity to the network of this city and about 40,000 tons per year of biofertilizers from corn husk (waste from the seed industry) after an investment of $ 12 million.
Argentina's IRSA Inversiones y Representaciones said Friday that it had launched an offer to swap up to $181.5 million in 10% bonds due this November for the same amount in two classes of new notes that will mature in 2023, the latest setback for the real estate developer as access to dollars tightens in the cash-strapped country. The offer is for swapping the 2020s for new bonds paying the same interest plus a cash sweetener of 40%, IRSA said in a securities filing.
Brightstar, a company that manufactures Samsung and LG cell phones, was able to close the sale of its businesses in Argentina. The US-based company received in exchange the symbolic amount of $1. The operation contemplates the transfer and continuity of two plants and 526 direct employees. In addition to the industrial part, it transferred a company dedicated to providing technical services to cell phones and the commercialization of consumer electronics products and accessories of several brands. The American parent company Brightstar agreed to pay $4.5 million to compensate 17 executives. The unions, which gave up claims to avoid layoffs.
Argentine energy and cement producer Petroquímica Comodoro Rivadavia (PCR) said Thursday that it would offer up to $40 million in bonds at auction in the local market on Friday, as corporate issues revive from a lull over the past month on demand for dollars. PCR, the 10th largest oil producer in Argentina, said it would offer three series of bonds, including two series of dollar-linked notes and one in pesos.