Consortium bid for Yoma

Under the name of ‘Polo Industrial del Cuero de Nonogasta,’ (PICUN) a group of five companies have submitted a proposal to undertake operations at the Yoma plant which has been facing bankruptcy since September. The once powerful Yoma ran into problems after being unable to finance new environmental treatment facilities. The tannery could recommence full production if there are no interested parties in the auction of the installations due to take place on December 6. PICUN is comprised of meat-packing companies Bancalari and Mattievich, Ranco Chemical company, PEL (which would take care of the sales and marketing operation) and financiers Grupo Cohen. Their bid to operate the plant has already received the backing of the La Rioja state government.