Businessman Francisco Ros Casares, founder of the Corporacion Ros Casares steel group in 1954, died this Monday in Valencia at the age of 86.
The death occurs when the Valencian company, which is run by his son Francisco Ros García, is going through serious liquidity problems that could lead to the company entering the so-called bad bank of companies, the company rescue fund promoted by the big banks within the so-called Phoenix Project.
Ros Casares signed an alliance with the German group Thyssen in 1984, which is currently on hold due to discrepancies between the partners. Between 1990 and 2001, the group was owned 50% first by Aristrain and then by Aceralia, whose share was later bought by the Ros Casares family.
The Valencian company, which had a turnover of more than 1,000 million euros in 2007, began a gradual decline thereafter due to the fall in the construction and real estate sector, which it had entered with the construction of the Ciudad Ros Casares complex next to the CAM.
The news of the death was given by Valencia Club de Fútbol, of which Ros Casares was president between 1973 and 1975. The club expressed its condolences to the Ros Casares family and recalled “one of its great legacies” of its former president, the acquisition under his mandate of the land of Paterna (Valencia), where the current Sports City and the Gloval Academy are located.
The burial will be held on Tuesday, June 24, at 7:00 p.m. at the Parque de la Paz Cemetery in Chiva.
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