Adveo Group International SA

05/18/2018 | Press release | Distributed by Public on 05/18/2018 06:59

ADVEO recovers Unipapel warehouses in Tres Cantos, Logroño and Aduna, with a total surface area of 46.503 m2, which will now be put up for sale

Madrid, May 18th 2018.- ADVEO has reached an agreement with Unipapel insolvency administrators to cancel the rental contract of the three warehouses (Tres Cantos, Logroño and Aduna) owned by ADVEO and occupied by Unipapel.

Consequently, ADVEO will recover these facilities that have a total surface area of 46.503 m2, resulting in an overall total surface area of 85.603 m2 to be immediately offered to the market. This agreement involves closing the eviction and rents claim process which ADVEO initiated against Unipapel, that has been in a state of insolvency since 2016.

Thus, ADVEO will have these warehouses available again, which will allow the company to continue with the strategy of disinvestments, as established in the Strategic Plan 2017-2020. The company's immediate plans focus on marketing these facilities as well as collaborating on selling equipment and stock.

ADVEO sold Unipapel in 2014, although it held a rental and a supply contract with the company.