GasGas Factory News ?
- Thread starter Dirt Dud
- Start date
- Status
poelinca
New member
Here are more news:
Good morning, tomorrow, Wednesday 28 will be opened in the commercial court of Girona binding offers from Torrot, Sherco and IRG investors.
Envelopes will be opened and we will hear more about what the future for the workers and for the brand.
We know how Gas Gas industrial project starts and how many workers begin and under what conditions.
After ten months after stopping activity have been many battles we have fought to have a future. Tomorrow it is another battle, no more important or less important than others, but from this, which determines whether to end the social side has won the pulse of partners, banks and legal processes. A situation that over ten months has been both financially and psychologically impoverishing all workers of Gas Gas.
Tomorrow we will be on the lookout and keep you informed as we get information.
Thanks for your support throughout the process.
Good morning, tomorrow, Wednesday 28 will be opened in the commercial court of Girona binding offers from Torrot, Sherco and IRG investors.
Envelopes will be opened and we will hear more about what the future for the workers and for the brand.
We know how Gas Gas industrial project starts and how many workers begin and under what conditions.
After ten months after stopping activity have been many battles we have fought to have a future. Tomorrow it is another battle, no more important or less important than others, but from this, which determines whether to end the social side has won the pulse of partners, banks and legal processes. A situation that over ten months has been both financially and psychologically impoverishing all workers of Gas Gas.
Tomorrow we will be on the lookout and keep you informed as we get information.
Thanks for your support throughout the process.
Rod Overstreet
Platinum Level Site Supporter
Not sure what "battle" is being referred to, but be advised, there is NO date for an announcement folks. It could happen within hours of the judges review...or months.
My best SWAG is....we will be putting up the Christmas tree by then.
swazi_matt
Active member
Who are torrot and irg? Anybody know their background?
I don't see any advantage if sherco takes it. Something similar to the KTM husky deal if that happens imo
For the workers sake I hope it happens soon
I don't see any advantage if sherco takes it. Something similar to the KTM husky deal if that happens imo
For the workers sake I hope it happens soon
poelinca
New member
Torrot is an old push bike manufacturer who 're-branded' to build electric push bikes and scooters.
IRG is an investment fund, but we can't tell which one it is (there are companies who do investments or involved in investments from AU/NZ, Hong Kong, USA, etc).
bergerhag
Silver Level Site Supporter
twowheels
New member
I think you've struck gold. This looks like the best possibility that GasGas will continue as a trials and enduro bike manufacturer under their own flag.
Then again, maybe one of the other bids will be accepted instead.
Looks like you probably hit the nail on the head...
http://www.irgcapitalpartners.com/team.html
Note that first partner spent time CEO of Derbi Motorcycles... Linked in page shows that this was from 1995 to 2000...
jeff
bergerhag
Silver Level Site Supporter
Rod Overstreet
Platinum Level Site Supporter
Dang...now the secret is out!!!Is this the 2016 EC / XC model?
http://www.diaridegirona.cat/economia/2015/10/28/torrot-presenta-loferta-mes-elevada/750286.html
looks like Sherco is out
Who know what it's good for
looks like Sherco is out
Who know what it's good for
Rod Overstreet
Platinum Level Site Supporter
There is more to this than price....
twowheels
New member
Here's a little more detail ... and yes there is more than price, but money talks too. The highest offer was over 9 million euro ...
From the news report ...
Sherco the lowest
Finally, three envelopes were opened today at the Commercial Court, the French Sherco is proposing the lowest. In particular 2.66516 million euros. Of these, 1.16 million euros will be allocated to the purchase of the plant, machinery, stock and customer network Gas Gas; the rest will be used to pay compensation to workers who take leave and to cover the debt owed to Social Security.
The proposal includes Sherco subrogated 47 contracts (of the three firms is who will take less staff) and invest 11.8 million euros in a plan to revive both the company and the brand. In addition, given that the factory be acquired Salt "without charges" and agreed with creditors.
Last edited:
poelinca
New member
Yes, but still they are second in line with the investment of 11.8 M after the purchase.
While Torrot is planing to invest another 13 M in the next 3 years, and keep between 47 and 60 workers.
IRG is overall on the last place by how i look at the picture, however they will keep the most workers under payroll (specifically 60).
It's hard to decide to be honest.
Rod Overstreet
Platinum Level Site Supporter
As I said...more than just money. There has been no official statement from the courts, the workers union or Gas Gas. It is still a wait and see.
poelinca
New member
Yes, well sort of. Torrot's offer says '3 years feasibility plan', so you can't tell for sure what happens after the 3 years.
And it's going to be a long wait i presume.
- Status
