Iñaki López Gandasegui takes over Tuboplast (Expansión)

The businessman Iñaki López Gandásegui, president of Aernnova, through his group KCE (Kaizaharra Corporación Empresarial) has taken over the old Tuboplast -today CTL-TH-, Alava manufacturer of plastic flexible tubes for pharmacy , cosmetics, oral care and food. Tuboplast was part of the industrial group of Juan Celaya, an Alava businessman who died without descendants 4 years ago, owner of the bankrupt Cegasa. In the midst of a recession and coinciding with the battery signing crisis, the industrialist reorganized his group and created Corporación Juan Celaya. Today, the heir to Tuboplast was the only company left of that business corporation. CTL-TH Packaging integrates 3 firms: Tuboplast Hispania, in Vitoria; France’s CTL Packaging in Vichy; and Tapser, in Barcelona. López Gandásegui’s landing in Tuboplast was carried out through a capital increase, “which reinforces CTL-TH’s financial capacity to improve its offer based on the transformations in its sector.” Neither Gandásegui nor CTL gave details of the operation between KCE and the  foundation managed by the Juan Celaya Corporation, although they did explain that the president of Aernnova takes over 75%. This is the last investment of Gandásegui after the purchase in late 2019 of 10% of the pharmaceutical and nutritional supplement firm Reig Jofre; and 33% of Azolgas, manufacturer of nitrogen gas springs for stamping processes of vehicles and household appliances, in June. The KCE group also controls 20% of Aernnova Aerospace and 100% of the document management firm Intimus. It also participates in collective investment companies. KCE had a turnover of 1.3 million euros in 2018, a year in which its profit amounted to 24 million due to the extraordinary results derived from the sale of part of Gandásegui’s shares in Aernnova. CTL-TH Packaging registered sales of 70 million in 2019 and had losses due to financial expenses due to its high debt. It employs 650 people.