Press Release from Service Point Solutions …..
Service Point completes successfully the restructuring of its French Subsidiary and concludes its process of “Redressement Judiciaire”
• Service Point France overcomes the process of “Redressement Judiciaire” (Receivership) as a restructured and more efficient company
• Consolidates the operations with a new, automated production centre in La Defense, Paris
• Stakeholders and clients keep trust during difficult period and endorse the restructuring, the contract with INERIS won recently stands out
17 October 2011 – On the 14 of October 2011 the Commercial Court of Créteil, France, published the statement, after the hearing in the court the 5th of October, which validated the proposed plan which will take Reprotechnique, the French subsidiary of Service Point Solutions, out of “Redressement Judiciaire” (Receivership).
Over a year ago, on the 3rd of August 2010, the same court had approved the “Redressement Judiciaire”, initiating an observation period during which the company continued trading and in control of its business operations, but had its debts frozen and underwent a redundancy program. This restructuring has subsequently been successful, sanitizing the company, and thus taking it out of the “Redressement Judiciaire”.
Having the plan validated includes a provision for the repayment of all liabilities during a period of 10 years, and the successful restructuring means that the French subsidiary can reposition itself as one of the main nodes of the Service Point European Network.
During the observation period, Reprotechnique underwent a strategic restructuring, leaving a new, more efficient company:
• Production activity is now entirely centred on the Paris region, merging production centres to improve operational efficiency, with a significant optimization of resources.
• Implementation of improved operational methodology (Lean Management) throughout its production centres.
• Implementation of an innovative ERP system, which will improve traceability, control production and increase productivity.
• Reduction of staff of 81 employees and €4.5 of total cost.
The restructuring and operational improvements implemented will allow Service Point to pursue its growth strategies, especially in the area of online B2B services.
Service Point France - Reprotechnique faces a bright future, already winning important new contracts, such as the INERIS (Institute National de l'envoironnement Industriel et des Risques) with a 4-year contract worth over 2 million euros, and renewing contracts with the French Senate and Bouygues OPB, whilst having maintained the trust of its customers and other stakeholders.
Service Point Solutions (www.servicepoint.net) provides an all-in-one managed solution for clients wishing to have their information processed, communicated or managed by a true service-focused partner. Our 2,140 professionals, based in 11 countries (UK, US, Spain, Germany, Netherlands, Belgium, Norway, Hong Kong, Russia and France) provide products and services across a network of 130 service points and 800 facilities management programs, approximately. SPS is headquartered in Spain and listed on the Madrid and Barcelona stock exchanges (ticker: SPS.MC).
For further information Service Point Solutions,
S.A. Pablo Divasson del Fraile
pablodivasson@servicepoint.net
Tel +34 93 5082400
Fax +34 93 5082442
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