PCB | March 17, 2009
Ruwel on the right track
Horst Piepenburg, insolvency administrator for German PCB manufacturer Ruwel, saw his first prerogative in keeping the production going. It seems that he was successful.
He was especially focused on the discussions with the company’s suppliers, he stated in an interview with Der Westen. For a company that has declared insolvency, cash in advance is very difficult to do. He even signed the purchase orders for the suppliers to give them the security that they will see their money. Although the production capacity in Geldern currently stands at just under 50%, he sees the company in a good position. The insolvency administrator is confident that production will continue – even after the April 30th deadline. He sees no layoffs or redundancies, he continues in saying in the interview. Horst Piepenburg and the company’s spokesperson Frank Hoiboom agree that Ruwel is still competitive. So far, no customer has cancelled their order. Now, as most of the talks with the suppliers are completed, the insolvency administrator is now focused on talks with potential investors. "There are investors who have called us. Strategic investors; but who do not come from a PCB background. Such an investor will typically not buy the whole company, but if we can match those with someone else… a shared risk so to speak", said Horst Piepenburg in the interview.