Eisenmann has filed a petition for the opening of insolvency at the Stuttgart District Court. The company is looking to accelerate the restructuring and strategic reorientation of the Eisenmann Group that began in March 2019.
Applications have also been sent to Eisenmann Anlagenbau GmbH & Co. KG, Eisenmann Lactec GmbH and ENisco GmbH & Co. KG. Further, the company has informed its employees at the same time as well.
Focussing on the core business and pushing forward with the restructuring and strategic realignment of the group aspart of the insolvency order to return to a profitable state as early as possible. The acquisitions and major projects in 2018 led to a large year-on-year loss, leading to the decision of restructuring and strategic reorientation.
The company has stated that it would be able to shoulder the growing risks and capital requirements in its systems business together with an industrial partner and make use of the entire potential in a more timely manner. For this the company is looking for a strategic partner for its Paint & Assembly (PA) and Application Technology (AT) businesses.