The business turnaround projects present issues that need to be addressed by a team with different competencies, all of them will be provided by TIM:
Sector competencies: companies to be restructured present large gaps, in comparison with industry best operating competitors. Identifying the gaps with the support of expert managers is key to re-orientate the business.
Labour restructuring know-how: turnaround processes involving difficult Union negotiations often require operating knowledge of labour restructuring procedures; such expertise is usually covered with a temporary assignment for a manager who has a specific experience.
Financial restructuring capabilities: quite often, industrial problems are coupled with financial difficulties. In such cases, the presence of resources that have already dealt with such situations is highly recommended; especially those who already have experience in:
- Managing cash shortage
- Dealing with creditors (suppliers, banks, revenue agency, etc.) in situation of financial difficulty.
- Knowledge of tools and procedures allowable by insolvency law.
Over time, relationships of trust have been built with professional investors specialized in turnaround situations who – if required – are ready to consider investing in projects managed by TIM
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