PCB | February 22, 2010
Fuba Dresden emerges from insolvency
The insolvent German PCB manufacturer Fuba Printed Circuits GmbH in Dresden has weathered the storm. A local report states that the company’s creditors and investor and restructuring specialist Victor Kühne have already signed contracts.
However, even these good news come with a little bitter pill. Only 10 of the former 220 employees will continue to work for the company. The company will also change its name and operate within the market as Kavitech GmbH. "The name Fuba – after the second insolvency – does no longer have an entirely positive notion to it. The new name represents a complete new beginning”, Mr Kühne states in the article. Viktor Kühne and his business partner Katrin Mathony have paid around €4 million for machinery, buildings, etc. and continue – for the time being – with 10 staff. They will focus on slow growth he continued: "We aim for a turnover of around €3 million this year. to ensure that we make this year a turnover of three million euros”. Even staff numbers should rise again – to around 50 by 2012. Note to other media. The above information has NOT been provided in any public Press Release. Republishing is strictly forbidden and would lead to prosecution.