Gas Gas Take Over (Multiple Topics Merged)

[jfc]

[dan williams]

Ah and maybe a GasGas/Torrot electric becomes a possibility for my next bike.

[bbk]

I see that TorroT has taken GG 

 

[crazybond700]

I see that TorroT has taken GG 

 

Yes, for now everything looks to be(come) ok.

[nigel dabster]

So have torrot paid the money over and own the company?

[dadof2]

The Commercial Court of Girona awarded 9.66 million euros for the signing of bicycles and electric bikes Torrot productive unit Gas Gas, brand trial bike which has been in liquidation since early July. Torrot, based in Mataro, is committed to investing in the Salt factory to 13 million euros over the next three years to revive the plant. The signing of electric vehicles was the one with the highest bid. It was followed by the investment fund WRI proposed 7.02 million euros, and that of another manufacturer in the industry, Sherco, which offered 2.66 million. Of the total sum, 6.38 million euros will be used to cover part of the debt of Gas Gas. The company owes more than 40 million euros at Banco Sabadell, BBVA, CaixaBank, ING and the Catalan Institute of Finance (ICF). Commitments that led him to stop production in January, when he entered preconcurso creditors. The staff of 93 workers is no activity since then. First, with paid and then leave, claiming unemployment benefit. Among the offers submitted, that of Torrot was preferred by workers. The chairman of the company, Pere Brangolí, said Monday Europa Press that employees are "satisfied" with the judge's decision. The viability plan Torrot surrogacy involves 55 workers and reinstate the commitment of the rest in the next 18 months up to a staff of 82 people. Brangolí added that "will have to continue negotiating with the new owners" conditions.

[crazybond700]

So have torrot paid the money over and own the company?

 

They do.

[atomant]

The Commercial Court of Girona awarded 9.66 million euros for the signing of bicycles and electric bikes Torrot productive unit Gas Gas, brand trial bike which has been in liquidation since early July. Torrot, based in Mataro, is committed to investing in the Salt factory to 13 million euros over the next three years to revive the plant. The signing of electric vehicles was the one with the highest bid. It was followed by the investment fund WRI proposed 7.02 million euros, and that of another manufacturer in the industry, Sherco, which offered 2.66 million. Of the total sum, 6.38 million euros will be used to cover part of the debt of Gas Gas. The company owes more than 40 million euros at Banco Sabadell, BBVA, CaixaBank, ING and the Catalan Institute of Finance (ICF). Commitments that led him to stop production in January, when he entered preconcurso creditors. The staff of 93 workers is no activity since then. First, with paid and then leave, claiming unemployment benefit. Among the offers submitted, that of Torrot was preferred by workers. The chairman of the company, Pere Brangolí, said Monday Europa Press that employees are "satisfied" with the judge's decision. The viability plan Torrot surrogacy involves 55 workers and reinstate the commitment of the rest in the next 18 months up to a staff of 82 people. Brangolí added that "will have to continue negotiating with the new owners" conditions.

 

 

This is just mental ! What the hell do they see in it to pay that much money?. I reckon Sherco were pushing it at 2.66 million !  Hopefully at some point, someone will explain the vision and it will all makes sense ! .

[crazybond700]

I dont think thats strange. For sherco it is adding something they basically already have, but for torrot its new teritory in which they want to grow. Also gg has some technology on electric bikes, and a good opportunity to develop that (its the future). So they are willing to pay more. I think for gas gas this is/was the best of the three, beeing spannish and wanting to proceed the brand, keep the employees etc.

 

I hope they get everything going (fast) and dont have to many big problems with old supliers etc into getting parts.

[atomant]

I dont think thats strange. For sherco it is adding something they basically already have, but for torrot its new teritory in which they want to grow. Also gg has some technology on electric bikes, and a good opportunity to develop that (its the future). So they are willing to pay more. I think for gas gas this is/was the best of the three, beeing spannish and wanting to proceed the brand, keep the employees etc.

 

I hope they get everything going (fast) and dont have to many big problems with old supliers etc into getting parts.

 

GG's 'technology' on electric bikes is nothing special. It's certainly not ground breaking.

 

I get Sherco's offer. They know the market and could see a synergy and they probably thought they were doing all right with their bid. But this bid was insane!  Where are they possibly going to get that investment back ?

 

Like I said, I will wait for someone from their company to put forward their vision on what they are going to do with GG to make that investment pay..

[nigel dabster]

GG's 'technology' on electric bikes is nothing special. It's certainly not ground breaking.

 

I get Sherco's offer. They know the market and could see a synergy and they probably thought they were doing all right with their bid. But this bid was insane!  Where are they possibly going to get that investment back ?

 

Like I said, I will wait for someone from their company to put forward their vision on what they are going to do with GG to make that investment pay..

 

This is why i ask, have they taken ownership? Google translating some quote Daddyboy doesnt answer the question, moreover if they have taken over and money changed hands why no press release and statement.

 

Atom, maybe they have a special kind of rose tinted glasses in Catalunya cos someone gave them 47m credit and Torrot think whats left is worth 7m?

[crazybond700]

http://www.motorbikemag.es/torrot-adquiere-gas-gas-en-pleno-eicma/

http://www.motocross.it/2015/11/17/eicma-2015-gas-gas-passa-a-torrot/

http://www.enduromagazine.com/torrot-electric-adquiere-gas-gas-y-se-presenta-en-el-eicma/

http://solomoto.es/1/torrot-se-hace-con-gas-gas

 

 

 

What torrot does http://www.diaridetarragona.com/motor/50815/prensentacion-torrot-muvi-en-eicma-de-milano

 

 

 

 

 

I also saw a video of the torrot boss with a presentation of the gas gas brand. I will search it

 

 

 

-Ivan Contreras (CEO Torrot Group) proudly introduced the new general manager of GasGas Juan López and welcomed all the distributors and vendors to a new exciting chapter for GasGas. The new general manager, Mr López added that they are very pleased and very happy to see the passion and loyalty has endured this difficult year and they are to move forward and work together for a successful GasGas company.--

 

https://www.facebook.com/gasgasmotos/videos/10153743394662943/

Edited November 25, 2015 by crazybond700

[neils on wheels]

The Commercial Court of Girona awarded 9.66 million euros for the signing of bicycles and electric bikes Torrot productive unit Gas Gas, brand trial bike which has been in liquidation since early July. Torrot, based in Mataro, is committed to investing in the Salt factory to 13 million euros over the next three years to revive the plant. The signing of electric vehicles was the one with the highest bid. It was followed by the investment fund WRI proposed 7.02 million euros, and that of another manufacturer in the industry, Sherco, which offered 2.66 million. Of the total sum, 6.38 million euros will be used to cover part of the debt of Gas Gas. The company owes more than 40 million euros at Banco Sabadell, BBVA, CaixaBank, ING and the Catalan Institute of Finance (ICF). Commitments that led him to stop production in January, when he entered preconcurso creditors. The staff of 93 workers is no activity since then. First, with paid and then leave, claiming unemployment benefit. Among the offers submitted, that of Torrot was preferred by workers. The chairman of the company, Pere Brangolí, said Monday Europa Press that employees are "satisfied" with the judge's decision. The viability plan Torrot surrogacy involves 55 workers and reinstate the commitment of the rest in the next 18 months up to a staff of 82 people. Brangolí added that "will have to continue negotiating with the new owners" conditions.

That still leaves over €33 million of debt that is not paid off.

[atomant]

 

-Ivan Contreras (CEO Torrot Group) proudly introduced the new general manager of GasGas Juan López and welcomed all the distributors and vendors to a new exciting chapter for GasGas. The new general manager, Mr López added that they are very pleased and very happy to see the passion and loyalty has endured this difficult year and they are to move forward and work together for a successful GasGas company.--

 

https://www.facebook.com/gasgasmotos/videos/10153743394662943/

 

But what are they going to do with GG ? Are they just going to resurrect the old company and continue as before? The comments suggest they want to reinstate all the original staff ( around 80) so there is a tidy wage bill to pay.

Things have moved on since the demise of GG and the market isn't as big for as it once was for them with Vertigo and TRS now in the mix. Both quality machines.

They lost a fortune before, how are they going to not lose that amount again?This is what I want to know..    

[crazybond700]

There is more than enough demand for those bikes, also enduro bikes. THey are going to produce around 3000 bikes next year and than see what happens I quess.

 

When financially managed good it should be able to be profitable quite easily. Dont put money and effort in prestige projects, just make good bikes and keep customers happy.

 

The quicker parts are made again etc the lower the damage to the brand will become. People will get over it once they can buy stuff again, the bad period has not been too long (now).

Edited November 25, 2015 by crazybond700