The Palacio de Mayoralgo, Unicaja’s headquarters in Cáceres, has hosted today the meeting of the Board of Directors of Corporación Empresarial Extremeña (CEX). The bank, as a partner of the Corporación, has lent its premises for this meeting, in which two new projects with the participation of the CEX have been ratified. These projects intend to promote the expansion and growth of the companies Coveless Ingeniería and Agrocongelados La Cuerva, and they will strengthen the Extremadura business fabric.
As explained by the chair of the CEX board, Agustín Delgado, “the reason for choosing these two projects is based on the fact that they have a well-defined business model and commercial strategy, in attractive economic sectors, as well as being projects that will generate new business and employment opportunities in the region, which are the goals of Corporación Empresarial Extremeña”.
Coveless Ingeniería is a leading regional company dedicated to industrial robotics and automation. Located in Badajoz, the company employs 30 people with a technical profile, mainly engineers and vocational training. Founded in 2005, they have customers both in Extremadura and in other regions of Spain. The company's objective, hand in hand with CEX, is to accelerate its growth and position itself among the national leaders, doubling the number of employees to 60.
Agrocongelados La Cuerva, is a company specialized in frozen fruit and vegetables, especially red fruits, which it sells to the main supermarket chains and restaurants in the national and international market. Founded in 1995, it is located in Jaraíz de la Vera and has 28 employees. Together with CEX, it is expected to double its turnover in three years: from 8 million euros in 2023 to 17 million in 2027.
CEX goals and investment criteria
The key criteria for the Corporación to participate in a company are its growth potential and profitability, a well-defined business model and commercial strategy, and attractive economic sectors.
The investment formulas are diverse and flexible and are adapted to the needs and priorities of each business, being the usual participation as equity partners. The ultimate objective, as stated by the CEX, is to “accompany the emerging business fabric to favor its expansion and growth, something that ‘we are convinced’ that the last two companies to which the CEX has ratified its support will achieve.
Both the induced investment in Extremadura and the annual turnover generated by the more than 60 companies in which the CEX has participated since its incorporation exceed 1,000 million euros, with the creation of more than 5,000 jobs.
About CEX
Corporación Empresarial de Extremadura is an investment company focused on regional development. Established in 1992 under the auspices of the Royal House, its main objective is to support business initiatives to promote their growth and expansion, contributing to the strengthening of Extremadura's business fabric.
Its shareholders include national business groups, financial institutions, the regional government and the Extremadura business sector.