Inepar terminates reorganization and prepares your largest plant sale

Four years after entering reorganization, Inepar, corporate group that was one of the symbols of the national economy in the years 1990, terminating the process in court. The debt, which was $ R $4 billion in 2014, has been reduced now to R $1 billion. Among the remedies applied by Starboard, who took over the management of the company and was responsible for the restructuring plan, featured the sale of several assets, the collection of lawsuits and creditors in partners. With diversified activities – through the manufacture of equipment for energy, transportation and oil and gas to telephony and even a Racecourse –, the company saw shot down both by economic crises in the country and by bad strategies conducted by former the company's managers. Since assuming the Presidency of Inepar, in 2014, the founding partner of Starboard, Warley Pimentel, cut about half of the employees and sat at the table to negotiate with a number of lenders. The company today has about 800 employees and 70% of your debts are tributaries. With the end of the judicial process, which should be approved in the next few weeks, Pimentel will leave the Presidency of Inepar. His departure is scheduled for the day 15 December. The company will seek a new Executive with an operational profile in the area of capital goods. The ex-controlador Atilano de Oms Sobrinho, one of the founders of the group, with the participation in the business, but will continue to operate in day to day Inepar, at the headquarters of Araraquara (SP). The Inepar also had to make use of other measures common in judicial recoveries: convince lenders to convert part of their claims on participation in an ailing business. According to Pedro Bianchi, partner at Starboard which also advised the process, other relevant contribution to the reduction of indebtedness was joining the refinancing program Refis tax, which cut the tax debt of R $1.5 billion for current R$ 700 million. New agreement the next step, according to Pimentel and Bianchi, will be the sale of the remaining two-thirds of Araraquara and CBD shipyard, to be made through a public auction, scheduled for the beginning of 2019. The expectation is that the make a Geoterra mining R $400 million and assume the tax debts. Paul of Tarsus, Geoterra Manager, which is known as an independent railway operator, confirmed the interest in business to the State. The company, however, expects a contribution of about $ $3 billion to be picked up with Belarus Russia investors, Germany, China and Russia. If the sale of the factory and the shipyard is implemented, Inepar will no longer be relevant business on his hands. Will remain just as the Curitiba race track operations and Innovida (of prefabricated houses). With the corporate restructuring promotion in reorganization, the National Bank of economic and Social Development (BNDES), which made the issuance of debentures perpetual (without maturity), must have the company's shares. Atilano de Oms Sobrinho and the broker Concordia will have slices in the minority group. The interest of foreign investors in capital goods has reason to be. Second José Velloso, President of the Brazilian Association of machinery and equipment industries (Abimaq), investment in infrastructure will be resumed from 2019. With that, the idle capacity of the factories of the segment should be busy.