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SMT & Inspection | April 13, 2010

Rohwedder: The process of finding investors

After Rohwedder applied to the Konstanz district court on March 26, 2010 to initiate insolvency proceedings, the company is unable to maintain its business operations on a lasting basis with its existing financial resources.
In financial year 2008 the Group made a loss of around EUR 22.8 million. According to preliminary insolvency administrator Dr. Volker Grub, the 2009 loss is likely to have been similar in size.

The Management Board and the insolvency administrator are therefore looking for investors for all Rohwedder business units. They will probably be sold as part of a transferred reorganization.

This means that once the insolvency proceedings have been initiated, Rohwedder itself will no longer continue in business but will be liquidated and its shareholders will be unable to expect any payments on their capital.
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