Once the entire process is completed, the Consortium will go from having thirteen companies to six.
On November 21, the Executive Committee of the Cádiz Free Zone Consortium approved the merger by absorption of its company Desarrollos Empresariales de la Zona Franca de Cádiz S.A.U. (DEZF) with Inmobiliaria de la Zona Franca de Cádiz S.A. (IZF) and Parque Comercial Las Salinas S.A.
This approval has complied with the Agreement of the Council of Ministers of March 16, 2012, by which the restructuring and rationalization plan of the state business and foundation public sector was approved and which established in point 7 of its Annex I that the merger of DEZF with the aforementioned companies IZF and PCLS, both sole proprietors of the Free Trade Zone Consortium, which, in turn, is the sole partner of Desarrollos Business.
The Government agreement establishes, along with the suppression of other public companies, the simplification of the corporate structure of the Consortium and has therefore promoted the disappearance of seven companies, among which are Rilco and the Quality Group.
This measure makes effective the elimination of two of them, while with regard to the Quality Group, its dissolution has already been agreed and is currently in the process of liquidation, so the Cádiz Free Trade Zone will go from having thirteen companies to six as soon as the entire procedure is concluded.
It should be noted that the merger of IZF and Parque Comercial Las Salinas does not affect employment, since there is no workforce in any of the absorbed companies.