PCB | January 15, 2009
Fuba PCB declares insolvency
Fuba Printed Circuits GmbH has filed a bankruptcy petition for the opening of an insolvency procedure. Lawyer Torsten Gutmann was appointed as interim trustee in the insolvency.
Despite a successful re-start after termination of the insolvency procedure and the plan insolvency phase in the year 2006 the new file of bankcruptcy was inevitable. Reasons for this measure are the global break-in of the automotive industry and the reserved readiness of the banks to grant credits. Despite low existing liabilities and disposable collaterals the banks did not extend their engagements. Based on these facts the liquidity of the company was not assured enduringly any longer. Business is carried on in both sites of Gittelde and Dresden. Existing and new orders are produced and delivered. Nevertheless, the managing directors are optimistic. FUBA's major customers promised their support of the company. The payment of wages is assured for a period of three months. The continuation of FUBA in the frame of an assigned recapitalization is also of first priority for the trustee in insolvency, Mr. Gutmann.