10/15/2008 13h51
Delga has 99.4% of Piratininga
Gazeta Mercantil - 10/15/2008
With estimated revenue of R$ 600 million (US$ 272.7 million) this year, Delga Group, specialized in average and large-sized stamping, assembly of welded kits and dump bodies announced the purchase of another 32.15% of the shares of Máquinas Piratininga S.A. yesterday. With this, the group now holds 99.42% of the company's share holdings. "In 1987 we bought 50.34% of the shares. In 2007 we acquired another 17% and had 67.34%. Now, we practically have the totality of the shares", said Luiz Nogueira, financial director of the Delga Group. Nogueira affirmed that the negotiations for the purchase of 32.15% of the shares had been done for some time at Gloria Participações, an investment fund. Máquinas Piratininga is located at the beginning of the Anchieta Highway (km 12.5). It produces items such as bumpers, complete set of axles, set of back axle, fixation support, byroads, front grid, assembled support - twist bar, and air suspension jib, among others. Máquinas Piratininga is the oldest company in Delga Group's portfolio. It has more than 70 years of tradition. Piratininga is specialized in small to large-sized welded parts, stamping and painting, especially for the sector of buses and trucks. "It should end 2008 with a 20% growth over 2007's results by serving clients such as DaimlerChrysler, Scania, Volvo, Cummins and CNH, among others", emphasizes Nogueira. Delga Group has its headquarters in Diadema (SP) and units in Lapa (SP), Ferraz de Vasconcelos (SP), and São Leopoldo (RS). It also holds two other companies: Forbrasa Comércio e Indústria de Máquinas, in the district of Brás, in the city of São Paulo, and Máquinas Piratininga. From the group's revenue, 90% come from the automotive sector and the remaining 10% come from the segment of white line. Luiz Nogueira says that, at this moment, due to the world financial crisis, the group is restudying the forecasted numbers. "In 2009 we should sell R$ 780 million (US$ 354.5 million), an amount that is a little below what we had projected. For 2010 the initial forecast of R$ 1 billion (US$ 454.5 million) will have to be reviewed due to the latest events".
