Eisenmann applies for insolvency proceedings

Eisenmann SE, Böblingen, Germany, filed for insolvency on 29 July 2019. Applications were also filed with Eisenmann Anlagenbau GmbH & Co. KG, Eisenmann Lactec GmbH and ENisco GmbH & Co. KG. The insolvency proceedings are intended to accelerate the restructuring and strategic realignment programme of the Eisenmann Group which was launched in March 2019. "We are focusing on our core business and intend to press ahead with the strategic realignment of the Eisenmann Group by restructuring the company as part of insolvency proceedings in order to return to profitable business as quickly as possible. We want to make consistent use of this opportunity for a new start and can build on a fundamentally solid business model," stressed Dr. Michael Keppel, Chief Restructuring Officer of Eisenmann SE. The owners and management of the Eisenmann Group initiated the restructuring and strategic realignment of the company in March 2019. The acquisition and execution of various major projects led to a high annual loss in 2018. "We had to act quickly and consistently here. At the same time, however, we also wanted to create the strategic and structural foundations for our competitiveness," Keppel stressed. "We are convinced that we can better shoulder the increasing risks and capital requirements in our plant business in cooperation with an industrial partner and exploit our full potential more quickly. We are therefore looking for a strategic partner for our Paint & Assembly (PA) and Application Technology (AT) business. The first interested parties have already contacted us," says Keppel. Founded 65 years ago, the family-owned company is represented in Europe, America and the BRIC countries at 27 locations in 15 countries with over 3,000 employees and generated annual sales of 723 million euros in 2017.

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