Rivadavia leaf producer will build a refrigerator in Chaco

Angel Estrada, paper supplies manufacturer and owner of brands such as Rivadavia, La Breda and America enter into the meat trade. The Argentine group, which has a history of more than 140 years, obtained a loan of… 640 million dollars By the Bank for Investment and Foreign Trade (BICE) which will be used for the launch frigonorte, Refrigerator located in the city of Margarita Belen, Chaco Province.

As the company stated in a document published by the National Securities Commission (CNV), the plant – whose final phase of work will require between 10 and 11 months – Slaughtering an average of 450 heads per day and providing nearly 400 new jobs. At the same time, they seek to export their meat to it Europe, China, Israel and the United States.

The FrigoNorte project was a project started by a Russian business group that was paralyzed in 2015, when the work was 80% complete. After more than two years of negotiations, in 2022, the Estrada Group acquired the company’s shares to complete the construction of a beef export slaughterhouse.

Now, the Argentine group has developed a legal and financial scheme that allows it to do so “Participating in financing and establishing a cooling station project on Frigonorte Company’s property,” Holds the document.

In turn, it proves that the Estrada group, Founder of the first Argentine publishing housewill pay $60 million to create and sell the real surface right to FrigoNorte, which it previously controlled. FIDOC INVESTMENTS LIMITED.

According to a report from the Rosario Stock Exchange, in Argentina they consume, On average 53.1 kg of meat per inhabitant. Although at levels close to historical minimums, the country’s per capita beef consumption is the highest in the world. Uruguay and the United States complete the top three. In those countries, an average person consumes 43 and 37 kilograms, respectively.

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Meanwhile, according to data from Beef Promotion Institute, the Argentine meat exports during 2022, The quantities approached 890 thousand tons of beef with bones, and 93 thousand tons of cow bones. With a value of more than 3,424 million US dollars.

As of September 30, 2023, the company dedicated to the design, production, marketing and distribution of paper products targeting the school environment, offers a heritage of US$10,105 million, working capital US$4,105 million, and total comprehensive profit for the period US$56 million. 65% of its sales are concentrated between November and February.

The group in turn produces 10 tons of paper per year, 330 direct employees, and a 12,000 square meter production plant in La Rioja Province.

The company sends 15% of its production abroad. In fact, its exports to Netherlands, United Kingdom, Puerto Rico, Brazil, Chile, Paraguay, Uruguay, Mexico, United States and Belgium, It represents 6% of your total sales.

The story behind Angel Estrada

Angel Estrada SA (AESA) Work in this field began with Nene’s sketchbooks, launched in 1895.. In return, the company allocated importing all types of school products, such as books, maps, publications, and globes. In 1917, its flagship brand, Rivadavia, arrived.In honor of the first Argentine president, whose logo resembles the signature of Bernardino Rivadavia himself.

the The Estrada family retained control until 1990 When, due to the company’s tight financial situation, they decided to sell the majority stake in Sudam Paper SA. He ran the company until December 2004. At that time he transferred ownership to businessman Francisco Soler.

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Meanwhile, investor Vidoc, run by former Hungarian Ford major Zsolt Agardi, has taken a stake. Later, Soler and Agardi bought out their stake from minority shareholders to have 100% control. Currently, Agardy is the controlling partner, and his son Federico is president of AESA.

In mid-2006, JPMorgan went out looking for a partner, buyer or shareholder for Angel Estrada. The company found itself with negative equity and the need to reduce its debt. By the end of the year he had been able to renegotiate it with a lower interest rate and committed to capitalization.

To fix his situation, he got rid of some companies. In 2007, Editorial Estrada sold to MacMillan Publishers for $14.5 million. He also resold his majority stake in Pelikan Argentina to Pelikan itself for US$3.5 million. AESA purchased 75% of subsidiary Pelikan in 1994 to complete its paper and writing business.

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