Creditors accepted the recovery plan of ARTECOLA

Consequently, the company based in Campo Bom, Brazil, rescheduled payments of approximately $ 185 million over a period of 15 years to all of its creditors.

The economic difficulties of ARTECOLA began in 2015 from its partnership with MARCOPOLO for a construction entrepreneurship for public tenders that were not paid by governments.

After the negotiations, executives declared their satisfaction for the agreement reached and promised to continue with the restructuring of the company to make it more agile and efficient to achieve sustained growth.

With more than 70 years, ARTECOLA is one of the largest companies in the chemical industry of the state, with outstanding performance in the footwear and manufactures industry of its country and in the main countries of Latin America. Its annual turnover is around 250 million dollars.