They have developed a product that is in demand worldwide and are the world market leader in installation. Nevertheless, Vector Foiltec had to file for bankruptcy.
The German architecture specialist Vector Foiltec filed for bankruptcy at the end of October. Despite its position as the world market leader in the field of architectural film construction, the crises of recent years have hit the Bremen-based company hard. Recently, the loss of the Russian market also led to high losses in business. Now an investor process is supposed to lead the company out of the crisis.
On November 1, 2024, the Bremen District Court ordered provisional insolvency administration over the company's assets. The company founder Dr. Stefan Lehnert comments on the current situation: “This step was not easy for us. But I am optimistic that we will find a good long-term solution here in a timely manner.” Despite the continued comfortable market position, project and payment delays have led to significant losses. Nevertheless, the company management was optimistic that it would be able to overcome the crisis.
The interim administrator Dr. Christian Kaufmann explains: “The employees are already informed about the current situation. We are now examining all options to maintain the traditional company.” The search for a new investor will begin in the next few days. The insolvency money secures the employees' wages for three months from November 2024 to January 2025 and will be paid out as usual. Vector Foiltec's foreign companies are not affected by the procedure.
The company is a manufacturer of roof and facade systems specializing in transparent solutions made from ETFE film. The technology has already been used in over 1,700 projects worldwide. In Germany, the company was involved, among other things, in the construction of the DFB campus in Frankfurt am Main. The company employs around 115 people at two locations in Germany and more than 250 people worldwide.
The production of the films used requires less energy than comparable technologies and also offers further advantages: They are completely recyclable, translucent and dirt-repellent. Due to these properties and the significant improvement in a building's carbon footprint, Vector Foiltec became the first company in the world to be awarded an Environmental Product Declaration (EPD) in 2011.
