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Old 21-06-2019
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finished again ?

Just as I was debating another one for 2020








James Brown

4 hrs

GasGas Motos news 😰😰😰.

GasGas is closing for 6 months. Its been in the offing for months and is obviously not looking good 😭😭😭.

Source ---

https://www.diaridegirona.cat/…/comi...g…/987668.html

Translation -

The Torrot-Gas Gas committee is afraid that the temporary ERO will result in a "concealed enclosure"
The temporary ERO affects 128 workers and the company wants to apply it as of July 1.

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The Torrot-Gas Gas committee is afraid that the temporary ERO will result in a "concealed enclosure"
The temporary ERO affects 128 workers and the company wants to apply it as of July 1
Acn | Jump 20.06.2019 | 13:25
The Torrot-Gas Gas committee is afraid that the temporary ERO will result in a "concealed enclosure"

The Torrot-Gas Gas committee is afraid that the temporary ERO will result in a "closed closure" ACN
The record of employment regulation (ERE) temporary Torrotes-Gas Gas will affect 128 employees (100% of the workforce) and the company wants to start applying it from the first of July . It will last for six months , during which workers will go to unemployment based on production needs. The committee and the trade union representatives criticize that the direction has been closed in the band and "does not want to compensate anything" and fear that the file ends in a "closed closure". The general secretary of the FICA-UGT in Girona, Isabel Martínez, concludes that the motorcycle maker suffers "serious treasury problems", because he accumulates 41 million euros of losses in three years, and claims to the investment fund that there He has behind the scenes that "put money to guarantee the continuity" of Torrot-Gas Gas.

The management of Torrot-Gas Gas, which manufactures electric motorcycles and racing, has announced on Thursday to the committee the details of the temporary ERO that will affect 100% of the staff. The company plans to start applying it from July 1 and today, in fact, the negotiation period has already been opened (because the law states that, in these cases, it must be fifteen days) .

The file will last for half a year, during which the staff will go to unemployment. "They would regulate and deregulate people based on production needs, but the big problem is that they are not expected to make more motorcycles and there is no money to buy raw materials," explains the general secretary of the FICA-UGT.

In total, the ERO will affect 128 workers. Of these, 95 work in the factory that Torrot-Gas Gas has in Salt (62 in the section of motorcycles of competition that are sold under the seal of Gas Gas and the remaining 33, manufacturing electric motorcycles for Torrot). There are eleven more that work in Vilablareix (where the company produces a speed trip) and the rest are distributed between the offices of Mataró, Madrid and Cádiz (where Torrot-Gas Gas builds a factory).

Isabel Martínez concludes that, at the start, the company has not been open to compensate for anything. "We are very disappointed," explains the secretary of the UGT. Among others, the committee has asked Torrot-Gas Gas to supplement unemployment for as long as they do not work, holidays or not to lose extra payments. "And what is more important: if in the hypothetical case that went to creditors or the company would end up closing, if it would end up replacing this unemployment time," says Martinez.

Torrot-Gas Gas's response, however, has been a complete refusal. "They told us everything they did not, and the situation was bad," the union representative of the UGT admits. Tomorrow, the two parties have a new meeting in the morning to continue negotiating the ERO.

A "concealed closure"
The committee and the trade unions fear that the temporary ERO will end up leading to a "concealed closure". And for that, they ask Black Toro Capital, the investment fund behind Torrot-Gas Gas, which pays more money. "If you really believe the project, you bet on it," Martinez underlines.

From the address, they have been told that during these six months they trust to be able to find a new investor. But workers are distrustful. They say that in the Salt Factory the production is already "under minimums" and, in fact, there are already workers who have chosen to look for other jobs seeing the situation that the motorcycle maker makes.

"There is no money or treasury"
The general secretary of the FICA-UGT explains that Torrot-Gas Gas suffers "serious treasury problems." "We are saying that the company may be able to guarantee the next payroll and little more - it is a true drama, because we are talking about the future and the bread of many families," says Isabel Martínez.

In fact, the general secretary of the UGT explains that, as it appeared in the documentation of the ERO of extinction that the company presented this spring - and that did not end up applying - the motorcycle maker "accumulates 41 MEUR of losses in three years ". "This is a bleeding, and that amount is increasing," says the union spokesman. During the last year, Torrot-Gas Gas also suffered a drop in sales of more than 50% (from 39.3 million euros in invoicing from 2017 to 22 last year).

The committee and the unions already warn, however, that the staff will not be left with arms crossed. "Depending on what we are told tomorrow, we will make an assembly and respond strongly, but we will not stay unemployed waiting for them to play with our future," concludes Isabel Martínez.
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Old 21-06-2019
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It'll be interesting to hear from GasGas rather than the union rep.

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Old 21-06-2019
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That’s not sounding promising at all.
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Old 21-06-2019
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Thought they flushed the unions out last time .
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Old 21-06-2019
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Quote:
Originally Posted by BIGBADAL View Post
Thought they flushed the unions out last time .
Not as easy as that in that particular bit of Spain. They'll happily watch the company burn rather than take backward step. Union rights are deeply entrenched in law.

This is actually not a bad way of taking the union on. Whether it works or not, well we'll see..
I have doubts, but I'm not invested in the factory.

I've got pretty much the perfect bike for the riding I do. There's good parts stock, both genuine and after market. Theres a great community of knowledge out there, and I don't care about resale because I'm not looking to sell it, and after all.. It's not like GasGas make much of the bike anyway. Most of the consumables are available direct from the manufacturers anyway.

So, in the bacon and eggs analogy I'm the hen - interested in the outcome, but not as committed as the pig was..

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Old 22-06-2019
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Can anyone dumb the above down for someone that doesn't understand the jargon? Sounds like an employee union is shutting the company down but only temporarily? Or?
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Old 22-06-2019
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Quote:
Originally Posted by Muppet View Post
Can anyone dumb the above down for someone that doesn't understand the jargon? Sounds like an employee union is shutting the company down but only temporarily? Or?
It is a bit vague , or maybe lost in translation but bike sales are down and they're loosing money , somehow !? the way I see it they can't keep stringing dealers along and more will abandon the make like last time .
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Old 22-06-2019
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Quote:
Originally Posted by Mark Berg GG USA
Hello Everyone,

I just wanted to let all of you know if you haven't heard already of an article released in Spain about the "closure" of the GasGas company. This story is filled with incorrect statements and half truths, it doesn't appear the USA is only country that likes fake news or news altered for an objective. There is a MAJOR restructuring going on in Spain that should have been accomplished well over 8 months ago, but with the politics between the two major shareholders, it hasn't gone quickly or smoothly. Black Toro Capital (60% investors) are looking for investors to purchase the Contreras shares in GasGas so they may split the two companies apart and during the intermediate future, they have had to do a temporary layoff. There are three investment candidates right now, and one has had 4 meetings already with a 5th meeting coming, so things are looking positive.

In Spain, if you want to restructure or eliminate/terminate employees it is NOT very easy at all. Each employee must be given a severance of 1 month plus for every year they have been employed with a company. When trying to reduce employee/overhead of at least 35 employee?s that are mostly from the Torrot side, but on the same payroll as GasGas, this is not an easy task, nor is it inexpensive. The other real option is to do a temporary layoff as they call it ?put to the fridge?. This way the government must step in and pay unemployment but it isn't anywhere close to the employee salaries, and the effect would hope to be that the employee goes looking for other work. You can now see why that story is so one sided and from the union leaders trying to make a social media outcry.

In the meantime, Black Toro Capital is continuing the needed restructure and to undo all of what the previous management had done. In the last three years, the old management went from 70 employees to 135 employees. Created a GasGas Sales office in Barcelona away from factory in Girona. Created a Torrot Sales office in Madrid. Created a Torrot Flagship store in Madrid. Hired a 3rd party warehouse for parts distribution in between Madrid and Barcelona. Started construction on a new factory for Torrot in Cadiz, Spain. Along with purchasing or acquiring SEVERAL other entities. All of these costly overheads that bring no return of investment are closing and all is going back to Girona. Thankfully! GasGas will become just GasGas again!

The aftermarket support team will still be operational the entire time, as are some of the other major support teams needed for everyday operation, which the story left out of course. Also, there is limited production still going on based on Torrot Muvi (scooter) orders and some limited production of 2020 trials in July. Product release is still set for the end of July, with our order period being in August.

There WILL BE an official press release from GasGas next week to combat this article release from the unions.

I have known of this "fridge" layoff for over 2 months (as I said, things work slow in Spain) and it is finally looking like it will take effect July 1st . This is much needed to slow down operating costs and lower staffed employees. We have been working hard here in the USA in order to do our part, and sadly some layoff's are coming here as well that none of us want. Many companies go through this including Arctic Cat, Harley Davidson and others.

We will continue to support all that have purchased a GasGas and love the brand here in North America. We have built a very good new business here in North America and are disappointed in the setbacks, but will survive and will grow again.

Thank you again for your continued support, and our door is always open!
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Old 22-06-2019
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Quote:
Originally Posted by BIGBADAL View Post
It is a bit vague , or maybe lost in translation but bike sales are down and they're loosing money , somehow !? the way I see it they can't keep stringing dealers along and more will abandon the make like last time .
Bike sales have been down a cross the board of all brands over the last couple of years. The only one here in Aus who's been on a win is KTM but we all can see that from the sea of orange pumpkins out there! I'm confident that Gasser is here to stay, their just still settling thing with the merger.

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Old 26-06-2019
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Would have thought Keg would have something to say , maybe
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