catalan companies

"Between 2015 and 2016 the Catalan Government will open new Trade & Investment offices in Belgrade, Tehran, Accra, Tel Aviv and Lima and enlarge its San Francisco-based one", Catalan Business Minister, Felip Puig, announced on Monday. Similarly, the Catalan Executive recently launched a new 'technological antenna' in Boston (Massachusetts) and will soon do the same in Panama, Kazakhstan, Kenya, Senegal and Angola, enlarging its network of business promotion offices abroad. The Minister said that in 2014, Catalan companies exported more than 51% of the Catalan Gross Domestic Product and the Executive is set on further enhancing their internationalisation. "Official data seem to confirm that companies with a stronger global presence suffered the economic crisis less and the Government wants to support them", he concluded.

The 17^th edition of the annual International Logistics and Material Handling Exhibition (SIL) kicked off on Tuesday in Barcelona and will be on until Thursday 11^th June. Held at Fira de Barcelona's Montjuic venue, the show will host more than 550 companies (45% international) presenting about a hundred innovations for the first time. The event is the only one of its kind taking place in Spain and the second-biggest in Europe. During the opening ceremony, SIL's President, Enrique Lacalle, pointed out that the logistics sector had not been severely hit by the crisis and now "is giving good news" with a4% rise in corporate turnover expected for 2015. In addition, the nature of the exhibition reflects the character of the hosting city: the Catalan capital's port has the largest logistics concentration of southern Europe and the Mediterranean within a radius of 5 Km and also has a geostrategic location. Finally, the main roads and railway connecting the Iberian Peninsula with the rest of Europe pass through Greater Barcelona.

The price competitiveness index for Catalan industry in relation to other industrialised countries improved by 0.4 points in the last quarter of 2014 compared to the same period of 2013, according to figures released on Monday by the Statistical Institute of Catalonia (IDESCAT). This improvement is particularly noticeable when compared against newly industrialised Asian countries, over which Catalan industry held a 2.7 percent advantage in competitiveness. A recent decline in the Euro's value has aided in facilitating the attractiveness of Catalonia's industrial products in the market. The favourable exchange rate has helped offset the loss of competitiveness of industrial prices compared to other industrialised countries.

Catalan exports totalled €15.66 billion for the period January-March 2015, a 6.6% growth on figures from the 1^st quarter of 2014. This represents a new historic high, setting a new record for Catalonia’s export sector, which has been growing strongly over the last few years. As well as this, exports in March increased by 15.4%, reaching the highest amount ever recorded for a single month. Exports from Catalonia during the first quarter of 2015 represent 25.7% of Spain’s total exports. Regarding Catalonia’s imports, they totalled €18.48 billion, a 4.4% increase. Catalonia’s trade deficit reached €2.82 billion, representing a 6.3% drop on figures from the previous quarter.

The 19^th edition of Barcelona’s International Building & Construction Show opened its doors on Tuesday, rebranded as 'Beyond Building Barcelona-Construmat'. The event – which is held every two years – will be on until Saturday 23 May, hosting around 300 exhibitors from 15 different countries. For the first time after 7 years of continuous decline for the construction sector, Construmat – the most important trade fair for this industry in Spain – kicks off at a time of gradual recovery for this sector, according to the figures of the last few months. For Josep Miarnau, Chairman of the show, this year represents a turning point and the end of a cycle. Held in the Gran Via venue of Fira de Barcelona, the show is organised around 4 main thematic pillars: Innovation, Design, Renovation and Sustainability. Moreover, internationalisation will play an important role as well, with 145 projects from all over the world at the tendering stage.

A major step forward in Catalonia's public research on technology has been made this month, with the official establishing of Eurecat on 1 May. The new integrated hub is a result of the merger of 5 advanced Catalan technology centres in the first phase. Last Wednesday, it incorporated a further 13 companies onto its Board. Eurecat is aimed at boosting technology research and its business applicability, particularly among private SMEs, which represent most of Catalonia's economy. Conceived as an engine for key technologies, it is a tool for implementing the Strategy for the Smart Specialisation of Catalonia (RIS3CAT). The latter was drafted by the Catalan Government following the EU Commission's decision to make 'smart specialisation' a prerequisite for attracting EU funds during the period 2014-2020. By the end of 2020, the centre is expected to have attracted funding from the EC's Horizon 2020 framework and the RIS3 to the tune of €200m.

Last April, Banc Sabadell filed a takeover offer on 100% of the shares of the UK lender TSB, partially owned by LLoyds. On Monday, the Catalan bank announced it had already exceeded the 75% minimum bid of the takeover offer, reaching 81.23% of TSB shares. However, this percentage is still likely to increase in the upcoming days, since there are 14 remaining days till the end of the takeover's acceptance period. In order to fund the transaction, the Catalan corporation will carry out a €1.61 billion capital increase (€1,607 million). Current shareholders have a preference call in this capital increase. Banc Sabadell, is one of the few banks to emerge stronger from a financial crisis that has redrawn Spain’s banking sector. Unlike many of its Spanish rivals, the bank is in good shape reporting a 50% increase in annual profits at the end of 2014 to €371.7 million. Since 2007, it has doubled in size and is now Spain’s 5^th largest bank. It achieved this mainly through an energetic programme of acquisitions in Spain and abroad. 

Barcelona Bridal Week is both the most important convention of the bridal industry in Europe and an international benchmark. This year, the Catalan capital’s event opened its doors on Tuesday with its bridal dress catwalk, the Paserela Gaudí Novia Fashion Show (5-8 May). On Friday, the international and professional trade fair NoviaEspaña (8-10 May) is opening, with 231 exhibitors participating. The event is held at Fira de Barcelona's Gran Via venue and is attended by the most famous and trend-setting national and foreign designers in the field. According to the organisers, this 25^th edition of Barcelona Bridal Week will be the most international in its history, with the USA as guest country, bringing together US trends, buyers and retailers.

The Barcelona-based fashion company Desigual announced in a press release on Monday that Manel Jadraque is no longer the firm’s CEO, following a "mutual agreement" between the Catalan multinational and the executive. Jadraque was both the company's Chief Executive Officer and its Director General. His executive functions will be assumed by Thomas Meyer, Desigual's President and founder. According to the company, "the current challenges facing the brand encouraged this decision". Jadraque had worked for the Catalan brand for more than ten years. He will remain a member of the Board of Directors, the company has stated. Desigual’s turnover in 2014 improved by 16.2% on its 2013 results, reaching €963.5 million.

The Catalan fashion retailer Mango closed 2014 with a profit of €107 million, 11.2% less than in 2013, when the multinational based in Greater Barcelona earned €120.5 million. However, sales last year increased by 9.3%, reaching some €2.02 billion, with 82% coming from foreign markets, and the remaining 18% from the Spanish market. Online sales turnover now accounts for 9.1% of the company's total sales. In 2014, Mango created 2,331 jobs worldwide, representing a 17% increase on 2013 figures, and 28% of those jobs were in Spain. The company currently has over 15,700 employees worldwide. In 2015, it plans to invest €300 million in opening new stores, renovation work on existing stores, and logistic and IT systems.

As was expected, the Constitutional Court has accepted the Spanish Government's appeal against the Catalan Law on External Action and Relations with the EU, which was approved last November and was already foreseen in the 2006 Catalan Statute of Autonomy. The Court's acceptance of a Spanish Government appeal automatically represents a temporary suspension of the legal measure for an initial 5-month period. The temporary suspension does not mean that the law will ultimately be suspended, but that there are enough reasons to study whether the Catalan law fits within the Constitution or not. According to the Spanish PM Mariano Rajoy, the law goes beyond the Catalan Government's attributions and invades the Spanish Executive's exclusive powers regarding international relations and the direction of Spain's external policy.

The President of the Catalan Government, Artur Mas, met on Wednesday with several think tanks and financial investors based in New York City, where he is paying an official visit. Mas stated that through holding the meetings he wants to "clarify doubts, provide them with information, take responsibility, explain Catalonia's advantages and virtues, and, obviously, explain the political process we are facing, in which many places throughout the world and particularly a city like New York I know are interested". In the evening, he will hold a conference at the University of Columbia with the title 'Catalonia at the crossroads'. The conference is today's "main event", he said, but he also organised meetings with people from think tanks because they "create opinion".

The GDP of Catalonia increased by 1.5% during 2014, according to the definitive figures released by the Catalan Statistics Institute (Idescat) on Friday. However, on the same day, the Spanish Statistics Institute (INE) published its economic growth figures for 2014 and announced that the Catalan economy had grown by 1.4% last year, the same rate as Spain. In any case, both figures are quite positive after many years of economic crisis and slowdown. In fact, 2014 has been the best year since 2007, when the Catalan economy grew by 3.2% according to the Idescat. The final figure for 2014 is higher than the provisional 1.2% growth rate previously announced. Following European Union instructions, the calculations for last year include R&D activities, as well as prostitution and trafficking of drugs and tobacco.

Barcelona-based Abertis' telecommunications subsidiary, Abertis Telecom Terrestre, will operate as Cellnex Telecom, S.A. from 1 April, as approved by the company's Shareholder General Assembly on Tuesday. The new name and brand are part of the preparations for a potential stock market flotation, as announced last October in the context of Abertis' 2015-2017 Strategic Plan. However, neither the Catalan group's President Salvador Alemany, nor Vice President and CEO, Francisco Reynés, have set a precise date yet for its admission to trading, which will be announced during this year's first semester. The new company's slogan will be "driving telecom connectivity".

Last week, TSB announced Banc Sabadell's interest in purchasing all of the shares of the British bank, which is partially owned by Lloyd's. The board of the 6^th largest bank in the United Kingdom then said they would welcome the Catalan bank's takeover bid, which they set at £3.40 per share (equivalent to €4.80). This meant that Banc Sabadell would buy TSB for £1.7 billion, or €2.4 billion. At that time, the Catalan bank denied any definitive agreement had been reached and simply confirmed that there were some talks in progress. A week later, Banc Sabadell has finally announced and approved the takeover bid, on the same terms released last week. In order to fund the transaction, the Catalan corporation will carry out a €1.6 billion increase in capital. This purchase will significantly strengthen Banc Sabadell's internationalisation, dramatically increasing its presence in the UK and in London's financial circles.