Eisenmann insolvent 2019. German auto supplier Eisenmann files for insolvency

2019_07_29_Insolvency

Eisenmann insolvent 2019

In 2017, Eisenmann generated annual revenues of 723 million euros. It designs and builds flexible, energy- and resource-efficient systems that are tailored to customer requirements, and support state-of-the-art manufacturing and intralogistics. Our highly skilled and experienced employees successfully complete complex and ambitious projects throughout the world. Loewe Technologies GmbH Industry: Consumer electronics Turnover 2018: approx. Eisenmann had received an order to build a plant in Kecskemet, Hungary, for the German car manufacturer, but the factory expansion was suspended because of poor sales figures. The owners and management of the Eisenmann Group initiated the restructuring and strategic realignment of the company in March 2019.

Next

German auto supplier Eisenmann files for insolvency

Eisenmann insolvent 2019

Christoph Schulte-Kaubrügger On 1 December the Natgas insolvency proceedings are opened. Tire manufacturer Continental plans to close its plant in Oppenweiler, and filter specialist Mann und Hummel wants to cut 1,200 jobs worldwide. They can only defend their rights and achievements by coordinating their struggles internationally. We pride ourselves on being a strong, reliable partner to our customers and on responding to their specific needs and challenges. This was to make clear to industry and government that the impending attacks can only be enforced jointly with the union and its 50,000 works council representatives and 80,000 shop stewards. The insolvency comes as bigger auto suppliers and carmakers including Daimler and Continental have issued profit warnings, triggered by a worse-than-expected downturn in demand for auto production. Apparently, the company has miscalculated with major orders in 2018.

Next

Germany’s insolvencies of the year 2019

Eisenmann insolvent 2019

Last year, the fate of the Kettcar manufacturer is already hanging by a thread. We are convinced that we can shoulder the growing risks and capital requirements in our systems business together with an industrial partner and exploit our full potential more quickly. . The insolvency proceedings are intended to accelerate the restructuring and strategic realignment programme of the Eisenmann Group which was launched in March 2019. Kettler Freizeit GmbH Industry sector: Sporting goods, Garden furniture, Toys Number of employees: 550 Insolvency application: October 2019 Insolvency administrator: Attorney Martin Lambrecht. A spokeswoman declined to specify which projects had pushed the company into insolvency.

Next

Eisenmann pushes Strategic Reorientation in Insolvency

Eisenmann insolvent 2019

Jobs are also being cut at other suppliers. Michael Keppel, who has been with the company since the beginning of April as senior restructuring specialist, welcomes the appointment of the provisional insolvency administrator and looks forward to the cooperation with great confidence. Daimler has been in contact with Eisenmann's management for months and has responded to the request for support. We plan, develop and implement high-quality, carbon-friendly, made-to-measure plants, processes and services for customers worldwide. Family-run Eisenmann provides industrial solutions for surface finishing, material flow automation, thermal process technology, and environmental engineering.

Next

German auto supplier Eisenmann files for insolvency

Eisenmann insolvent 2019

Exner has distinguished himself in the past above all by the successful support of various automotive suppliers. Eisenmann is now looking for a strategic partner for its established business in paint shops for the auto industry, Keppel said on Monday evening. The acquisition and execution of various major projects led to a high annual loss in 2018. At the same time, we also wanted to create the strategic and structural foundations for our long-term competitiveness. Eisenmann ran into liquidity problems because major projects started in 2018 led to a large year-on-year loss, it said.

Next

German auto supplier Eisenmann files for bankruptcy

Eisenmann insolvent 2019

The law office is one of the leading law firms in the area of insolvency administration in Germany. Lucas Flöther The insolvency of British travel company Thomas Cook is one of the most spectacular corporate insolvencies of this year. The Debitos privacy policy applies to the processing of my data for the newsletter. The German company Condor — allegedly through no fault of its own — is also sliding into the pit due to the insolvency of its parent company. Production is down five percent worldwide.

Next

German auto supplier Eisenmann files for insolvency

Eisenmann insolvent 2019

In addition, protective shielding proceedings are being opened with the aim of finding new owners for the badly hit company. Precision parts supplier Schaeffler announced the reduction of 900 jobs months ago. Further plant closures could not be ruled out, he said. This was now reaping its revenge. The owner and management of the Eisenmann Group first initiated the restructuring and strategic reorientation of the company in March, saying the acquisition and completion of various major projects in 2018 had led to a large year-on-year loss.

Next