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Enercor

Major Tyre Holding

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$1B

Revenue

$820M

Debts

9.9K

Employees

18 months

Duration

Global Producer with HQ in the Netherlands and presence throughout the EU

Netherlands and EEC

Enercor was providing daily management for the consortium of major banks and creditors. Enercor was able to resolve most of the critical issues threatening the company’s existence which helped to complete the bankruptcy process. Enercor was able to restart and run two major factories, resolving numerous problems with trade unions, workers, suppliers, customers, banks and was able to agree a way out of bankruptcy with all the company’s creditors

Achievements

  1. Net project profit for stakeholders $150M

    Upon sale of company
    assets to strategic investor after debts

  2. OPEX decreased by close to
    $50M per year

    Redundancies at production plants

  3. WC savings of more than
    $100M

    Better terms with existing clients, including higher prices, prepayments etc

  4. Pipeline of new orders
    $2Bln

    Due to implementation of new Sales and Marketing Strategy

1-4 months

  • Step in as interim management
  • In depth situation analyses
  • Trade union negotiations

4th month

  • Supply chain restored
  • Production of tyres started

5-8 months

  • Negotiations with debtors
  • Major redundancies
  • Major OPEX savings
  • Disposal of retail chain

9-18 months

  • Completion of bankruptcy
  • Sale of assets to strategic investor