Creditors approve Talcahuano metallurgical firm's reorganization, saving 350 jobs

The creditors of Chilean metallurgical company Edyce have approved its judicial reorganization agreement, securing the company's operations and preserving 350 jobs in Talcahuano. The decision, made at the 16th Civil Court of Santiago, outlines a long-term payment plan for the company's accumulated liabilities of 33 billion pesos (approximately $35 million USD).

Edyce, a company with 75 years of history in the metalworking sector, faced significant financial challenges that threatened its continuity and the employment of its workforce in the Biobío Region. The approval of the reorganization plan is a critical step in ensuring the company's survival and its contribution to the local economy.

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Edyce begins a new stage in which its financial structure is very robust.

Sergio Rocco, president of Edyce, expressed optimism about the company's future, stating, "Edyce begins a new stage in which its financial structure is very robust." He also highlighted the retention of the company's professional team, noting that "the company's professional team remained intact, with all departments 100% constituted, there were no major layoffs." This stability is crucial for maintaining operational capacity.

The preservation of these jobs in Talcahuano is particularly significant, as the commune has also been affected by the closure of the Huachipato steel plant. Edyce's continued operation provides a vital economic anchor for the region.

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the company's professional team remained intact, with all departments 100% constituted, there were no major layoffs.