Press Release of the Tesi Family regarding the Giorgio Tesi Group and Sandro Bruschi Vivai agreement

31/10/2016

In these last days we have witnessed, with great surprise, the spreading of news and information, some false, others only biased, regarding the contents and effects of the agreement between Giorgio Tesi Group and Sandro Bruschi Vivai. We have heard and read all kinds of things and noticed, since published in newspapers, a lot of confusion, part of which created ad hoc always by the same people with the same old system in order to discredit, set up people and sling dirt, organise meetings or having them organised with the aim of misrepresenting persons and companies that have always been working seriously and honestly. Therefore, we have decided to intervene to set the record straight, which is what we did with those that asked us for information.

 

First of all I would like to express our disappointment for the situation in which Bruschi company was involved and, especially for the consequences suffered by the employees and many supplier companies of the territory and out of the territory. We are well aware of the values of work and personal sacrifices and for this reason our disappointment is true and sincere. Let it be clear to everyone that Giorgio Tesi Group does not have anything to do with the crisis in which Bruschi company was involved, which has been clearly known for years.

 


The Giorgio Tesi Group – Sandro Bruschi Vivai agreement originated through contacts occurred during the last month when Sandro Bruschi Vivai contacted us communicating that it could no longer carry on the company activity. This happened right after having asked several companies, even important ones, of the sector for help and having received only negative or evasive responses. Said agreement provides that Giorgio Tesi Group shall assume the economic burden of paying wages, TFR (severance indemnity), and overdue payments of the 42 employees of Sandro Bruschi Vivai. In addition, Giorgio Tesi Group, thanks to the collaboration with the union organisations, also assumes the burden of the overdue payment and TFR (severance indemnity) of the Sandro Bruschi employees who have already left the company in the last year.

 

The three-month rent of the company branch, whose assessment has been given to a third professional, will be at the creditor’s disposal, together with the evaluation of the plants and all the properties registered in the name of Sandro Bruschi. However, the plants were evaluated on the basis of two distinct appraisals and anyway by the values that the customs of plants stock purchases, asserted by all the expert technicians. 
We would like to point out that one of the conditions set by Giorgio Tesi Group for the definition of the agreement was the tie that said resources were put at the creditor’s disposal. This commitment of disposition of the rent and any plant purchase activity may even not have been necessary for us, but we required it to give a response to all the families involved, some of which, up to the last day continued to have faith in the upturn of Vivai Sandro Bruschi. It is a very considerable amount with the possibility to discount back with possible financial operations.

 

Even regarding this point the speculations that followed in these days are incredible, with the considerable amounts put at disposal by the company, branded as minimal only because insufficient to integrally pay the creditors that, in previous identical or similar cases, obtained the payment of their credits in measure never higher than a few percentage points.  

 

 In this regard, I would like to point out that unfortunately dozens of nursery-stock companies within our territory have being going through crises in the last period. These cases, all together, are three times higher both as turnover and labour, than the Bruschi case, in which many producers, including us, have been involved. However, no one did anything to help, except the workers unions. Many of these companies have been taken over, or rented; others have been acquired without complaints. All happened because we decided to start a “rescue” operation of a company after  all the other respondents did not do anything to help, but instead they made people that never before had been involved in these kind of situations, intervene.  

 

In fact, this agreement allowed saving 42 jobs, outstanding payments, TFR severance indemnities, and resources at disposal of the creditors of the Sandro Bruschi Company. None of these things could have been done if the Sandro Bruschi Company would have closed, as evidenced by the other company crises occurred recently.

The personnel would have been sent home, the creditors would have obtained just a very small part of their money from the sale of the plants, the properties would have been sold at public auctions at very low prices with the risk that the only ones to make a bargain would have been some speculators with no scruples, who would have bought the property for a ridiculous price.


It must be clear that with this operation Giorgio Tesi Group has taken enormous entrepreneurial risks, considering the market and economic situation, but it decided to take this economic and social risk hoping that the investment could be fruitful in the future. However, this is only a hope right now because of the markets situation.

 

Our astonishment becomes suspicion when, being aware of the goodness of the agreement, we read about calls to save the creditors that, due to the situation of the company and the previously mentioned examples, only this way can be sure to receive the maximum despite the circumstances, or invitations to a moral and ethical behaviour that, as everyone knows, has always represented a fundamental value of our family and history. We hope that this agreement did not interfere with the plans of someone who was waiting for the auction to take everything. 

Since no other entrepreneur showed any will to invest millions of Euro cash, we are sure that if such an operation had been concluded by someone else, there would have been applauses and intense exultation by everyone. Of course, we would have applauded as well, as we have already done in other identical or similar situations. We are firmly convinced that this is the right system to ease, as far as possible, the problems of the creditors and sector.

Confirming our disappointment for all those involved in the crisis of the Bruschi company, we want to thank also all those people, friends, institutions, and colleagues that, without any prejudice, have expressed their appreciation and gratitude for the commitment we have undertaken.




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