Is The Brand Dying?

[mcnut]

Again or still?

https://www.facebook.com/MecatecnoTr...type=1&fref=nf

[iamovru]

Ugh! This isnt good

[papa_j]

I don't have facebook so I cannot follow the link, but just to be on the safe side the mods should close this thread now.

(Just a little ribbing mods, Bless you for the work that you do! I genuinely appreciate the work that you all put into keeping the site up and running.)

[mcnut]

Text from the post:
"Unfortunately I am sad to inform you of what appears in many Spanish news papers . With 26,000,000 E of debt GasGas motos of Spain have had thier credit line stopped and have finally been told that they have six months to find a buyer. In the meantime they have to purchase all spares and pay for workers using cash only frown emoticon. Like the demise of Bultaco and Ossa ....out of the ashes new companies will rise ."

[jprizz]

Here is Google Translate's version of 2 of the articles linked in the post:

1) From el Economista.es:
The manufacturer of trial and enduro motorcycles Gas Gas has submitted preconcurso creditors in commercial courts of Girona to have room to restructure its debt, Europa Press reported the company president, Ramon Puente.

The company based in Salt (Girona) accumulated a debt of 24 million euros that is trying to refinance, but has encountered delays in decision-making by some of its major creditors, as published Tuesday 'La Vanguardia '.

Gas Gas signed an agreement in early 2013 with an international investor group agreed to invest EUR 9 million to finance the strategic plan of the company until 2015, and in February last year, the Government, through Avan?sa, contributed an equity loan of two million euros.

2) From Diari de Girona:
SALT | ACN manufacturer Girona Motorcycle Gas Gas, headquartered in Salt (Girona), presented preconcurs proceedings before the Commercial Court. The company's goal is to restructure a debt up to 20 MEUR and dragged for about ten years, according to its director general, Ramon Puente.

Gas Gas has seven months negotiating with banks to try to refinance, but as he has not found understanding, decided to go ahead preconcurs creditors to try to force a settlement. Debt restructuring will also receive a Gas Gas injection of 9 million euros by an international investment group. The CEO said that the company, which exports 90% of production is viable.

[Mark Berg - CPD]

Don't panic, GG is not going anywhere!

This is purely a political move and poker game being put on currently. I have been aware of this plan, and current strategy of restructure since early December. Its a business move done many times over by many companies through the world in order to get a better financial footing for future projects. GasGas with the help of some government assistance is working the banks that had possession of GasGas a few years ago. In its current state GasGas is sustaining and doing well, but the interest and contracts that were done with the banks back in Spains recession period have not allowed for growth.

As I said, this is a planned move to restructure. Once there is an agreement made that GasGas has proposed to the banks. The investors have promised an additional 9 million euro's to put only into R & D, and future projects. The investors know what they are doing, and they are doing this for the benefit of a stronger future for GasGas.

On the US side, GasGas Motos NA, and GasGas USA (trials) are not going anywhere and we will still be here promoting, selling, and planning a strong GasGas future.

[wallybean]

Originally Posted by GoFasters

Don't panic, GG is not going anywhere!

This is purely a political move and poker game being put on currently. I have been aware of this plan, and current strategy of restructure since early December. Its a business move done many times over by many companies through the world in order to get a better financial footing for future projects. GasGas with the help of some government assistance is working the banks that had possession of GasGas a few years ago. In its current state GasGas is sustaining and doing well, but the interest and contracts that were done with the banks back in Spains recession period have not allowed for growth.

As I said, this is a planned move to restructure. Once there is an agreement made that GasGas has proposed to the banks. The investors have promised an additional 9 million euro's to put only into R & D, and future projects. The investors know what they are doing, and they are doing this for the benefit of a stronger future for GasGas.

On the US side, GasGas Motos NA, and GasGas USA (trials) are not going anywhere and we will still be here promoting, selling, and planning a strong GasGas future.

Thank you Mark for the clarification! I was very disappointed on initial reading and your explanation both makes sense and is reassuring.

[Fred1956]

I read a post by Jim Snell and have been patiently waiting for confirmation....Thanks Mark!

[iamovru]

Whether this is a game or not, it doesnt do the brand any good. All it does it give KTM,Beta and others better sales numbers.

[cbutler]

Well shit it was on the "internet" SO IT HAS TO BE TRUE