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PCB | August 27, 2009

Ruwel Geldern to close down

The production facility of the insolvent German PCB manufacturer Ruwel in Geldern will be closed down.
Despite an investor - who had already signed an agreement with the insolvency administrator - the production facility will have to close down. BlueBay had signalled their willingness to invest - under certain conditions; 180 pending actions against ‘unfair dismissal’ would need to be clarified first, evertiq was told.

However, only 51 of the 180 claimants had accepted the offer of a severance payment, not enough for the investor. The production facility in Geldern will accept no orders from Monday, August 31, 2009. The facility will wind down gradually and the last working day for the remaining staff will be December 18, 2009, a source told evertiq.

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