Fohama Electromecánica is located in the district of Mataderos in the city of Buenos Aires. It is a supplier to companies in the energy industry and has faced the impact of the pandemic with its doors open. It has managed to continue its operations while taking the necessary preventive measures and activating the required sanitary protocols to take care of its staff.
For over fifty years it has produced and repaired electrical transformers, so keeping the doors open was of paramount importance. «We are a company with a long tradition with our customers in the energy industry. We have always had a very stable relationship. So much so, that we have always had the same tax ID number for billing them,” said the General Manager of Fohama, Gustavo J. Manfredi.
In order to preserve this strong bond in the face of the difficulties posed by the COVID-19 pandemic, a number of efforts were implemented, including production shifts at the plant and remote work by part of the permanent workforce. In this way, the circulation of workers, which is key in the fight against the virus, was minimized.
Although they are aware of the current challenge brought about by a reduced demand for their products, they are confident that the current level can be sustained until the sanitary emergency is over.
«The role of the BICE is different from that of traditional commercial banks and this has allowed them to see beyond the balance sheet exclusively. We have been their client since 2011 and this is the first bank that has ever given priority to an industrial project,» shared Manfredi.
To help them get through the first months of the pandemic, they had access to a working capital loan from BICE, and this allowed them to pay for the salaries while they reconfigured their workplaces to conform to the new normality.