Read below the statement sent by Odebrecht S.A. Chief Executive Officer Luciano Guidolin to all members of the Odebrecht Group.
Dear team members,
As part of our commitment to transparency, I wish to inform you that Atvos – our subsidiary that produces and sells ethanol, VHP sugar and electricity derived from sugarcane and biomass – today (May 29) filed in the courts of São Paulo a request for court-supervised reorganization.
Atvos’ request is restricted to itself. It neither involves Odebrecht S.A. nor other Odebrecht Group companies. As is the case now with Atvos, Group companies that require financial restructuring will do it on their own, separately and autonomously.
Atvos’ initiative preserves its operations and aims to ensure a safe and stable environment to balance its accounts in order to achieve maximum production capacity in the coming years.
We are confident that Atvos, backed by judicial protection, will reach the end of this process by finding a solution that meets its interests and those of its creditors, enabling it to resume the trajectory of growth that has marked it since its creation in 2007.
I will always keep you informed.
Chief Executive Officer