© kheng guan toh dreamstime.com Electronics Production | February 07, 2018
Cable manufacturer Starz is looking for an investor
A structured investor process has been started for the cable harness manufacturer Starz and other companies within the Kehrel Group.
The provisional insolvency administrator Bettina Schmudde (Partner White & Case) has initiated the investor process to "enable a long-term and stable continuation of the four Starz companies in Germany, Poland, Tunisia and China with around 720 employees", a press release states. The business operation of the insolvent Starz GmbH, based in Großräschen near Cottbus (east of Berlin), which employs around 170 people, will continue as normal and all contracts are fulfilled. Potential investors are able to submit binding offers until mid-March 2018. Starz is a manufacturer of cable harnesses for special vehicles, in particular for construction, agricultural and forestry as well as municipal and fire-fighting vehicles. At the end of January 2018, Starz GmbH (and the mother company Kehrel AG) filed for insolvency. The other companies of the Kehrel Group - Starz Polska Sp. Z.o.o., Mecsy s.a.r.l., Starz Wiring System Ltd. Co., Petri+Lehr GmbH, Weinbrenner GmbH and Lausitz Karosse GmbH - are not affected by the insolvency proceedings.