July 10, 2020

Seat denounces that the image of Catalonia drives away investors

The invoice caused by the riots in Catalonia continues to grow. Until today, the border between France and Spain on the AP-7 has remained blocked by the CDR, causing millionaire losses. This climate of confrontation helps the image of Spain or Catalonia, ”said Luca de Meo, president of the Spanish firm Seat. The independence challenge «It does not help different investors to facilitate the idea that you have to bet in this region», has warned during an event organized by New Economy Forum.

Road blocks already affected the manufacturer, which On October 17, he had to temporarily close his Martorell plant. This break meant the loss of "many tens of millions of euros of revenue for Seat", he said worried about Meo. This measure was taken to avoid the risk that workers could not go to their job and because "nobody assured" that the pieces would arrive on time to their homes. The cessation interrupted the production of 3,200 vehicles. However, the company says it will not take any action "until these movements have an impact on the operation" of the business.

For De Meo, lInvestors "need clarity, long-term vision and stability." "What we have to do is not be a problem," he said, while stressing that the Volkswagen group will not conduct political assessments. "We just want to produce," said the president of Seat. During his speech, he explained that, despite everything, Seat "has aligned four record years in sales and revenue." The brand obtained a record operating profit of 248 million between January and September 2019, 4.2% more than in 2018.

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