IN
THE
WIND
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GAS GAS AWAITS RULING ON TRIO OF PURCHASE OFFERS
H
ope is alive and well at Gas
Gas. Although the trials
and enduro motorcycle manu-
facturer faced bankruptcy and
liquidation earlier this year, the
Spanish company has managed
to remain in tact, and now has
firm offers from three separate
buyers.
According to Spanish publica-
tion "La Vanguardia," a close
source has revealed that Sher-
co, IRG and Torrot all presented
binding offers on October 14 to
purchase the Gas Gas pro-
duction unit. Six other groups
showed interest in the acquisi-
tion of Gas Gas (including KTM)
and submitted non-binding
offers, but have now walked
away. The three bids have been
presented to the judge and a de-
cision is currently being deliber-
ated.
Sherco (the French manu-
facturer of off-road and trials
motorcycles—and also includes
the Scorpa brand, which it
absorbed several years ago) is
based in Nimes, France, but
the company also has a plant in
Barcelona. IRG is a mutual fund.
Torrot is an old bicycle brand
and maker of electric-powered
children's motorcycles that
wants to expand their presence
in motorcycling.
The staff of Gas Gas—the driv-
ing force behind the "Salvemos
A Gas Gas" website—continues
to fight hard for their company.
Although the commercial court
of Girona has rejected their
appeals against the decision to
liquidate the company, they have
remained relentlessly persis-
tent in ushering along the sales
process. Sources report that
the Gas Gas factory is hoping
to jump into accelerated 2016
production pending the sale of
the company, and they even
hope to be at EICMA in Milan in
less than a month.
"Our commercial network is
suffering the consequences,
and all our Gas Gas importers,"
read a statement on Salvemosa-
gasgas.webnode.es "If we are
not able to start in 2016 many of
them will be forced to leave us,
sentencing the brand to death."
The Gas Gas workers point
to the "war of interests between
shareholders and banks" for the
delaying the process of selling
the company, but they continue
to push for speedy judicial pro-
ceedings, and hope to have an
answer on the purchase offers
as early as next week.
"But it is true that workers
of Gas Gas have not resigned
[to] defeat," read the state-
ment—which is published on
the website as well as on social
media outlets in Spanish, Ital-
ian, French and English. "[This]
makes us stronger and
united by a purpose.
The team of workers
that make up the brand
[are] very committed to
it. Because their future
depends on it.
"We know it has been
tough for everyone but
you just have to [hold
out] a little more; we are
close. Thank you all for
your commitment to the
brand."
Jean Turner
