EQS-News: Manz AG files for insolvency – Attorney Martin Mucha appointed as preliminary insolvency administrator
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EQS-News: Manz AG
/ Key word(s): Insolvency
Manz AG files for insolvency – Attorney Martin Mucha appointed as preliminary insolvency administrator The German high-tech engineering company Manz AG, based in Reutlingen, has filed for insolvency proceedings at the Stuttgart District Court. By order of December 20, 2024, attorney Martin Mucha of the Germany-wide law firm GRUB BRUGGER was appointed as the preliminary insolvency administrator. Reutlingen, December 23, 2024 – Manz AG, a high-tech mechanical engineering company, develops best-in-class production solutions for lithium-ion batteries and electronic components and devices for its customers in the automotive and e-mobility, electronics, energy and battery manufacturing sectors. In view of the original market expectations for e-mobility, the company built up expertise at an early stage and invested in the expansion of capacities and technologies, particularly for battery cell production. Particularly in Europe, the expected market potential has not materialized as expected, with major international manufacturers postponing or canceling investments. For Manz, this meant that the high investments in technology and innovations could not be offset by corresponding revenues. In the coming days, a structured process will be launched that includes both the examination of a restructuring concept and the possible sale of parts of the company. Manz currently employs around 1,200 people worldwide, with around 400 employees at the German site. Revenues of around €170 to 180 million are planned for the current fiscal year. “I have informed the staff immediately about the insolvency application and announced that business operations will continue. Currently, I am getting an overview of the situation in the company together with my team,” explains the experienced restructuring expert Martin Mucha, who was appointed as the provisional insolvency administrator by the Local Court of Stuttgart.
About Manz AG Manz covers the entire range of modern production solutions: from customer-specific individual machines for laboratory production or pilot and small-series production to standardized modules and systems to turnkey lines for efficient mass production. Customers benefit from high resource efficiency with higher throughput and shorter time-to-market. With currently around 1,200 employees, the Manz Group develops and produces in Germany, Slovakia, Italy, China and Taiwan. There are also sales and service subsidiaries in the USA and India. Manz AG was founded in 1987 and generated consolidated sales of 249.2 million EUR in the 2023 financial year with the two segments Mobility & Battery Solutions and Industry Solutions. The shares (ISIN: DE000A0JQ5U3) are listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard).
About GRUB BRUGGER Martin Mucha is a specialist lawyer in insolvency and reorganization law, a partner at the law firm GRUB BRUGGER and, according to the JUVE Handbook of Commercial Law Firms 2024/2025, repeatedly one of the leading names in insolvency administration in Germany. Martin Mucha was also recently listed among the most renowned lawyers for restructuring in the WirtschaftsWoche ranking. The Working Group on Insolvency Law and Restructuring presented Martin Mucha with the “Insolvency Administrator of the Year” award in 2023. In the same year, the Handelsblatt named Martin Mucha “Lawyer of the Year” in the field of restructuring and insolvency law. Martin Mucha is a member of the Association of Insolvency Administrators and Trustees in Germany (VID) and the expert committee for insolvency law of the German Federal Bar Association. He is also a member of the Gravenbrucher Kreis.
Kirchhoff Consult AG
23.12.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
Language: | English |
Company: | Manz AG |
Steigäckerstr. 5 | |
72768 Reutlingen | |
Germany | |
Phone: | +49 (0) 7121 9000-0 |
Fax: | +49 (0) 7121 9000-99 |
E-mail: | info@manz.com |
Internet: | http://www.manz.com |
ISIN: | DE000A0JQ5U3 |
WKN: | A0JQ5U |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 2057109 |
End of News | EQS News Service |
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2057109 23.12.2024 CET/CEST
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Nachrichten zu Manz AG
Analysen zu Manz AG
Datum | Rating | Analyst | |
---|---|---|---|
30.03.2016 | Manz Halten | Bankhaus Lampe KG | |
03.03.2016 | Manz Hold | Warburg Research | |
03.03.2016 | Manz Halten | Bankhaus Lampe KG | |
14.12.2015 | Manz Hold | Warburg Research | |
10.12.2015 | Manz Halten | Bankhaus Lampe KG |
Datum | Rating | Analyst | |
---|---|---|---|
10.11.2015 | Manz Reduce | Oddo Seydler Bank AG | |
27.05.2015 | Manz Sell | Oddo Seydler Bank AG | |
22.05.2014 | Manz Sell | Close Brothers Seydler Research AG | |
19.11.2012 | Manz sell | Close Brothers Seydler Research AG | |
16.03.2012 | Manz sell | aktiencheck.de |
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