Staub sees a way out
The group negotiates Jabil according to Gradient and prepares to issue $ 200 million. Part of the money may come to the Brazilian company
Adriana Mattos
This month, the gradient is two years of the deepest crisis of its history. Wrong strategic decisions, taken in a turbulent environment for the electronics sector, to put in a delicate situation. Factories are still stalled, officials are still calling for back wages and some creditors ask for their failure time or another. What stands out is that a few weeks before that fateful "birthday", the company has recovered part of its market value. The amount reached R $ 43.2 million, the highest since June 2008. It was not long, the number fell to $ 36 million in September.
This roller coaster has been fueled by the prospect that Eugenio Staub, founder of the group, sees new opportunities to resume operation of the company. There is a new fact which encouraged hopes of Staub: negotiations with Jabil Circuit, a U.S. manufacturer in the industry with $ 13 billion in sales anticipated by CASH in March, gained new impetus. The company has just informed the SEC (the U.S. CVM) the intention of issuing bonds worth $ 200 million for investments, including in emerging countries. Gradiente would receive investments of up to $ 50 million of Americans.
Regardless of the agreement with Jabil, Gradiente struggle to revive its production line - is this possibility that has made investors shake the dust of the company's stock lately. According to a strong rumor among large retailers, the company would return to deliver lots of new products until the first two months of 2010. Seventy people are still working on the manufacturer in the country. "Representatives of the gradient linked to us, searching on a partnership for ads and advertising inserts. But they said the same production, only at the beginning of next year," says the purchasing manager of a retailer. Thus, the potential gradient of the mark in stores this month was buried. "For this year, still does not," says Pedro Falabella, president of the Development Agency of the State of Amazonas, directly involved in the recovery process of the company. The return of the retail gradient depends on three points: a financial settlement with the last creditors, debt renegotiation with the IRS and the inflow of capital from investors. That is what Staub is now working and MONEY found that there are a few of us to untie.
The new contribution will come from the same Jabil. Few people know that the U.S. group bought the raw material and equipment Gradient in 2005. With the new million on hand, generated by the issuance of shares, Jabil earned breath enough to invest in the Brazilian company. Another snag with respect to debts with the IRS. There is a new fact in the negotiation. Gradiente joined the Refis IV, called "Refis crisis" in August. If accepted by the Treasury (which has not yet occurred), the company will have access to one of the most benevolent restoration programs in corporate credit in a bad fiscal situation. The gradient can settle their debts by up to 120 equal monthly installments, with 65% reduction in fines and 50% discount on interest and charges. Adherence to Refis IV prevented his mark was auctioned by the Attorney General of the National Treasury. The suspension came to give chance to the company's partial tax debts in the new Refis. The prosecutor went to court and insisted on the auction, but ten days ago the court denied the request.
With the guarantee of maintaining the brand, need to be addressed a third point: the negotiation with creditors. According Falabella, eight of them, a total of 23, has not accepted the payment deadline asked by Staub. This group, formed by small suppliers and service providers, does not accept the plan presented by the five-step gradient, which provides discounts of up to 80%. That is what needs to advance, and fast. "If the company does not have a solid plan, with negotiated rates and all the creditors agree, there is no output," says Falabella.
"We will try our best and almost impossible for the Gradient resume their activity." In Staub plan, already submitted to BNDES and partners, a new company would be created and not inherit the liabilities of the former gradient, but leased the brand and the industry. The Development Agency of the State of Amazonas enter up to 10% of $ 150 million to be injected into the new gradient. The Staub family would put half of its $ 150 million. The rest would be contributed by Jabil and two pension funds, the Petros and Funcef. The last step would be the beginning of the manufacturing operation in early 2010. Hard to remember now of any Brazilian company that has been dying so long in this market. It is harder to remember examples of those who almost broke and has returned to operate smoothly. If it a comeback, the gradient will be an exception to the rule that history will turn. Wanted, Staub did not arise.
--->Eye on, guys! Great investment opportunity. Free Float of only 14%. Price should rise from R $ 2.85 to $ 20.00.<---
Notice given, run, do not waste time! Great investment opportunity abroad!
davisalles
br.adfvn.com
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