CNIM halves its commercial ambitions – 01/12/2021 at 1:00 p.m.

(AOF) – The CNIM group has announced that it has signed a sale and purchase agreement with the FCDE, the Business Consolidation and Development Fund, which covers all the shares of its subsidiary Bertin Technologies, whose project was announced on November 14, 2021 This transaction is part of the disposal program announced on August 13, 2021 and that CNIM intends to continue during the coming months, the industrial group specifies. However, the completion of the operation is subject to obtaining the usual authorizations.

“Certain elements after October 31, 2021 lead the company to take into account a significant risk of deterioration in the group’s 2021 results and its liquidity for 2022,” the company added in a press release.

This deterioration is the result of the loss of two tenders and the later-than-expected completion of turnkey factory contracts, leading CNIM to cut its commercial ambitions in half. In addition, during the month of November, the company saw new sanctions imposed on several ongoing projects in the United Kingdom and France, and was notified of an unfavorable arbitration decision in Denmark regarding its subsidiary LAB.

The company is now studying with its creditors and with the State the measures to take to face this new situation.


Vince Fernandez

"Professional food trailblazer. Devoted communicator. Friendly writer. Avid problem solver. Tv aficionado. Lifelong social media fanatic."

Leave a Reply

Your email address will not be published. Required fields are marked *