Leixões, Portugal (PortSEurope) August 16, 2018 – Portuguese construction company Irmãos Cavaco SA, declared insolvent in 2017, said it was late in settling the damages due to its former workers, but announced that by the end of 2018 it will resume its activity in the field of public works.
The company has contracts for works at the Douro jetties, the Multipurpose Terminal of the port of Leixões, the Pedestrian Mobile Bridge of Viana do Castelo, the Ponta Delgada Maritime Terminal, the Port of Aveiro Solid Granite Terminal, the Terreiro do Paço River Terminal in Lisbon, the Quarteira Fishing Port and the marinas of Portimão and Albufeira.
Following the complaint of former workers, alerting to successive delays in the monthly payment of the compensation, the management of Irmãos Cavaco explains: “The sum for July will be paid later this week. The delay of a few days is due to delays in receipts”.
The situation affects 174 former employees, who are owed a total of €3.8 million ($4.3 million), payable in successive monthly installments over more than ten years.
Founded in 1976, Irmãos Cavaco began its activity in quarrying and production of crushed aggregates, extending its business to public works and, given its availability of raw material, to coastal protection.
Source: Diário de Notícias
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