TPT March 2008

I ndustry N ews

and spare parts service and reducing the production costs by concentrating on the main product areas. In the short term, the company has reassured that its product porfolio, customers and 630 employees can all continue as normal. Battenfeld’s order books are completely full for the next 3 months, and all sales orders will be fulfilled as agreed. The company’s preliminary turnover for 2007 is approximately €85mn. Battenfeld Kunststoffmaschinen GmbH – Germany Fax : +43 2252 404 1002 Email : susanne.binner@battenfeld-imt.com Website : www.battenfeld-imt.com

Battenfeld aims for relaunch with insolvency proceedings

Battenfeld Kunststoffmaschinen GmbH, an Austrian manufacturer of plastic injection moulding machines and factory automation machines, has submitted a request to open insolvency proceedings at the regional court in Wiener Neustadt, near VIenna. This step has become necessary because the recent change in ownership has endangered the existence of the company. The move comes as a result of several takeovers and a lack of investment. Once long-term owners SMS Group had pulled out of the plastics technology business, the Battenfeld plant in Meinerzhagen was closed in late 2005. Adcuram Group AG, an investor group based in Munich, took over the location in Kottingbrunn with 14 worldwide sales and service companies and a sales and service company in Germany. However, the Adcuram Group AG was not able to consolidate and concentrate production successfully in Kottingbrunn. In

August 2007 the service and spare parts business was spun off as the Battenfeld Kunststoffmaschinen Service GmbH, which even after the sale of Kunststoffmaschinen GmbH is still owned by the Adcuram Group. Battenfeld Kunststoffmaschinen GmbH was OOD Private Equity Ltd, UK, which has so far issued no statement regarding the future of the company. An injection of equity capital, which had been needed for some time, had not been provided by either the former or the present owner. The management has therefore considered itself obliged to take action. The company’s management is making every effort to assist the liquidator appointed by the court in ensuring that the proceedings are dealt with quickly. The company hopes to relaunch on a solid basis, possibly with new investors. The decisive factors for relaunch will be the success in regaining control over the service The new owner of

Read this magazine online @:

www.read-tpt.com