Puchi de-emphasizes layoffs
Regarding if the industry will be able to take up again its previous workforce size he detailed that “it is too early to confirm something like that, but without any doubts we will became competitive again and we are going to recover our market position” adding that definition of a new regulation is fundamental in that process.
When asked by El Mercurio about how this regulation delay has affected the AquaChile’s restructuring deal, Puchi stated that it has not influenced “however, sowing and investment levels mainly depend on how confident we feel with the new regulation. Otherwise, we will not have resources to restart the recovery process” he said.
Moreover, he explained that his company has moved forward in pre-investment studies although execution of that plans are still postponed. “We have to invest close to USD 40 million in technological conversion that requires financing and, since funds came when it is more safe, while this uncertain situation exists it will be harder to get financing and resources” he declared.
