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Fagor Industrial undergoes corporate makeover

Fagor-stand-HOST.jpg

Catering equipment manufacturer Fagor Industrial has made its first appearance under its new name of the Onnera Group.

The Fagor Industrial Group, which comprises seven separate commercial equipment brands in the catering, laundering and refrigeration sectors, exhibited at HOST under the new moniker after confirming it was going ahead with the change earlier this month.

This year is the group’s 40th in business and it is understood the rebrand reflects its desire to develop a more international strategic focus.

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Onnera used HOST to stage what it called the “global presentation” of the new name and corporate image. Its 400 square metre stand featured equipment from its catering brands Fagor and Asber, food prep brand Edesa, and refrigeration business Efficold.

“The International exhibition of the hospitality industry is the perfect venue for us to present Onnera Group, the new name and international face of our corporate group,” said Kepa Bedialauneta, director general of Fagor Industrial, this week.

The group, which collectively operates 10 manufacturing plants around the world, also encompasses commercial laundry brands Danube, Domus and Primer.

The Onnera Group remains part of the Mondragon Corporation, a giant and long-established co-operative in Spain with business interests in multiple sectors.

This month has brought mixed fortunes for Mondragon Corporation so far. While the Industrial Group celebrated its corporate rebanding this week, Fagor’s home appliances division last week filed for protection to allow it time to refinance its debts.

According to Spanish news reports, Fagor’s white goods business has four months to reach a deal under Spanish bankruptcy rules. Its total debts are reported to stand at €1.1 billion (£940m).

The pre-bankruptcy procedure was recently introduced into Spanish law to give businesses extra time to avoid filing for bankruptcy.

Mondragon Corporation is now understood to be in talks with the Basque government, creditor banks and other lenders in a bid to improve the situation.

Reuters reported that Fagor, which is the fifth largest electrical appliance company in Europe, said in a statement that it hopes the negotiations with creditors enable it to reach a refinancing agreement to guarantee its financial stability.

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Andrew Seymour

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