PCB | September 13, 2004
Dielektra avoids liquidation
Dielektra, the Germany-based laminate manufacturer will continue the operations and avoid liquidation.
The district Court of Cologne, Germany, last week held a hearing of creditors of Dielektra GmbH. After hearing a report about Dielektra's financial situation the creditors of Dielektra decided not to liquidate the company and to continue the operations. Order income increased after the insolvency procedures began, and several large customers declared their preference for the continuously manufactured laminates, which are unique in the market, said Dielektra. Several alternatives have been discussed, among them an offer from a Swiss investors group, another offer by a global materials manufacturer, and a buyout by the employees. No decisions have been made yet, as the insolvency administrator is still looking for alternate investors, preferably from the electronics industry, Dielektra explained.