Monday, December 09, 2013

' Decompress to grow ' is the motto in Hypermarcas

Hypermarcas is about to conclude in the coming months a long restructuring process that should change once the DNA of the company. About 20 Group factories across the country were "boxed" and are being transferred to Goiás.
The consumer products division, now based in Senador Canedo, will be leaner, with the concentration of brands that make more sense to the company's portfolio. The pharmaceutical business of the group is already in operation in Annapolis and is considered the bet Hypermarcas to grow into new classes of drugs.
The plan was put in place in 2011, ten years after the creation of the company, created by entrepreneur Ganesan John ADAS Son, junior, as he is better known, to be a consumer giant.
The State of Goiás was chosen to be the "bunker" Hypermarcas, which should collapse, after numerous acquisitions in recent years, to grow in a more orderly fashion. With investments of r $ 500 million, the company built in the State, famous for grant attractive tax incentives, two industrial complexes and distribution centers to unify its two production business.
To the pharmaceutical area, was created the project Magnum in Annapolis. This town was the headquarters of the Chemical, generic lab Neo acquired by the company in 2010. This factory became the largest laboratory of Latin America in units of medicines, with the closing of six units scattered through the States of São Paulo, Rio de Janeiro and Minas Gerais. With integrated operation from 2012, the unit will be 100% unified in mid-2014, when Mantecorp factory in Rio, is disabled.
The 75 miles of Annapolis, the design Matrix is responsible for the consumer division, which began last year and is expected to be completed in the coming months, with the transfer of production of ten factories to this location. The only unit that will stand out is the disposable products (diapers), which is installed in Aparecida de Goiânia, in the same State, and focuses the other operation five units turned off.
Operation of war. "It was a real war operation. It's like a moving house, but in our case, mobilized many trucks. Have been months and months of planning. We hire a company to perform the work and take all the machines and equipments for Goiás ", says Claudio Bergamo, President of the consumer and pharmaceutical giant.
The concentration of production in two poles reduces costs and provides greater synergy in business. This year, the unit cost of production of medicine, for example, shrank by 18% over the past year. In the case of disposable, Bergamo says there was dilution of fixed costs, with production concentrated in only one factory.
"The acquisitions are off our radar. The focus will be on organic growth, "said Bergamo. The statement may sound like a contradiction, considering the modus operandi of the company throughout his career to get where he is. In recent years, the $ 8.4 billion in disbursed Hypermarcas acquisitions (part of them performed with Exchange of shares), taking market rivals and inflating assets to get where I wanted to.
This aggressive strategy was effective for a while, but reached its limit in 2011. That year, the company's shares plummeted 62%, reaching almost the same level of 2008, when he opened the capital. The company's image, highly leveraged, scratched and a shock in the management was the solution found by the company to return to plumb.
That same year, Hypermarcas decided to sell its food assets and cleanup, which marked the beginning of the Empire junior. The group got rid of a major package of brands such as Communitydns, Perfex, Etti, Salsaretti, which amounted to
R $ 445 million.
By concentrating business in two divisions, Bergamo was the market for executives to put the company back on track. Luiz Eduardo Violland (ex-Nycomed) arrived in 2011 to the pharmaceutical area and German Nicolas Fischer (ex-Nivea), in 2012, for consumption.
The changes have been considered as positive by the market, but the job is not yet over. "The Group was growing haphazardly and no longer had a focus," said a market analyst. "Part of the acquisitions made by the company, as a way to gain market share, it didn't make sense. Now the stock is coming back to the same levels of before this crisis, "says another source. On Friday, shares in the group closed at $ 18.49. In the year, stocks accumulate high of 12.4%.
The Group ended the year with net revenues give $ 3.8 billion, up 16%, and net income of $ 204 million, reversing earlier losses of $ 55 million. The indebtedness was r $ 2.7 billion.
"We have created a robust portfolio superpowered and complementary to each other," says Bergamo. The focus now is execution and accommodate both business divisions, "said Bergamo.
The restructuring was prescribed as a bitter pill, but necessary.
O Estado de São Paulo - 09/12/2013
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