Source: Bloomberg – Rajoy Punishes Exporters Sustaining Spain’s Economy: Euro Credit
Aliberico SL survived Spain’s economic crisis by expanding sales of aluminum panels in the U.S., Brazil and Morocco. Prime Minister Mariano Rajoy’s plan to raise corporate taxes may undermine the company’s efforts.
“The fiscal pressure is intense,” Clemente Gonzalez Soler, chief executive officer and founder of the Madrid-based manufacturer, said in a telephone interview. “The changes mean a loss of competitiveness for Spanish companies just at the moment when we need to export more.”