Pañalon S.A. has formalized the purchase of 100% of the shares of Transportes Santos S.A. from the Santos Vela brothers. Transportes Santos S.A. is a chemical transport company, founded in 1984, with a turnover of 8M €, a fleet of 50 tankers and 60 employees. It has long-term contracts with the main Spanish chemicals manufacturers and it’s a relevant operator in the sector in the Iberian Peninsula. The objective of this operation is to expand the range of services for the demanding clients of the chemical business, with the maximum commitment to safety, quality and respect for the environment, seeking the greater synergies between both companies, cost efficiencies and profitability. It is a clear commitment to the road transport sector and the chemical industry, stable employment and the national economy. Transportes Santos will continue to operate as such, maintaining all its commitments and contractual agreements, reinforced and strengthened as it now forms part of a larger, more solid and diversified group with more capacity for investment, growth and future development. D.Rafael Santos Vela will continue to be linked to the company and will remain as proxy, which will facilitate an orderly, progressive and professional transition and integration.
Villarrobledo, January 5th, 2017