With the transparency and responsibility that guided the Aço Cearense Group in its corporate trajectory in 37 years, it is public to clarify and reassure society, suppliers, customers and its 3,800 employees, regarding the judicial recovery process, filed at the end of the day May 4, 2017.
As everyone knows, Brazil is experiencing an economic crisis that affects all the national productive chain. The steel sector is one of the most impacted.
Despite this situation, Aço Cearense Group presented in the last year a significant improvement in its turnover and profitability numbers.
However, even with the positive results, in recent months the company has encountered difficulties adjusting its capital structure within this adverse economic scenario.
Following the standard that always guided the decisions of the Aço Cearense Group, it was indispensable to seek a differentiated, preventive and responsible judicial recovery, based on the maintenance of the financial and operational health of the Group companies, as follows:
– Preserve and guarantee the jobs of its 3,800 employees;
– To allow the continuity of operations and the sustainability of its business;
– Propose a debt repayment plan to honor all the categories included in this situation;
– Maintain good relations with the suppliers with whom it deal daily;
– Enable the resumption of its growth and its social actions.
By choosing to make such a decision, Aço Cearense Group reinforces its basic premise of not giving up the transparency and loyalty with which it has always based its actions, keeping the philosophy of a company serious and aware of its role towards society.
Aço Cearense Group reiterates its willingness to continue with the will and work of always, with the belief in its role of development and transformation in Brazil, envisioning a promising and beneficial future for all involved.
Vilmar Ferreira
Chairman of Aço Cearense Group
