Yesterday (September 7th) marked the 25th anniversary of the 1986 assassination attempt on Chilean Dictator aGUSto Pinochet. This was a dark day for Madrigal Electromotive's operation in Chile. With close family cultural ties, Chile was an early area of expansion for this young German Company. In the aftermath, several employees, contractors and clients of Madrigal Electromotive were kidnapped, tortured, and/or killed. We do not know what happened to several others who simply vanished.
Political unrest increases risks but also offers great potential rewards in overseas operations. At Madrigal Electromotive, we've always tried to use existing ties to a country be in enclaves of cultural ties. Family ties in far flung areas give an entree to the fringes of the globe. Past associates and clients who've immigrated to other countries offer great opportunities toward expansion.
Unfortunately, the aftermath of the assassination attempt was a large blow to our Chilean operations.