Restructuring of ROB Group successful - Investor found

This summarises the successfully completed restructuring of the ROB Group. Seven months after the insolvency filing for the four German business entiries, insolvency administrators Marc Schmidt-Thieme and Tobias Hoefer were able to handed over the rrestructured companies to the U.S. investor Cemtrex . As of November 1, Cemtrex acquires all business activities and takes on all 200+ employees of the ROB Group. The four business entities will then operate in the market under the name of ROB Cemtrex GmbH. All business units wil be continued. operations are continuing. The production location Neulingen is to be developed into the European hub and the drive the expansion into new markets. As a sign for a long-term strategy, Cemtrex is also acquiring the Neulingen property as such. "We are very pleased with the solution. It is, in our opinion, the best for creditors, the company and the employees. ROB has a gain a financially sound ground to stand on and under the Cemtrex umbrella also a promising future", state Schmidt-Thieme and Hoefer . "This acquisition is a critical step in the long -term success of Cemtrex. We looked at a number of potential acquisition targets in recent months. We believe that this is the best way to expand into new markets and to secure long-term shareholder value. We see significant growth potential for the long-term total electronic manufacturing services industry", said Saagar Govil, CEO of Cemtrex . Schmid-Thieme and Hoefer, together with the old and new CEO Frank Bittighofer, stabilised the Group and continued operations without interruption. At the end, four possible options for a permanent solution were found. The purchaser concept of Cemtrex convinced not only the creditors, but also the other parties involved.