Removed from stock exchange
Insolvent mechanical engineering company Manz is about to be sold
January 9, 2025Reading time: 1 min.
The insolvent mechanical engineering company Manz is in crisis. Now the company is to be sold. The search for an investor is ongoing.
The insolvent mechanical engineering company Manz is to be sold. The search for an investor for the entire group is ongoing, said the provisional insolvency administrator of Manz AG, Martin Mucha, upon request. The company PwC is supporting the process. According to Mucha, a strategic investor would be good. He is confident that a solution will be found in the course of the spring. Meanwhile, business operations will continue without restrictions. Manz AG will be taken off the stock exchange, said Mucha. The so-called delisting is underway.
The company from Reutlingen near Stuttgart filed for insolvency in December last year due to insolvency and over-indebtedness under insolvency law. According to Manz, it supplies customers from the automotive industry and battery production, among others. The company announced that expected sales in the area of electromobility were not realized as expected.
According to information from December, Manz employs around 1,200 people worldwide, including around 400 in Germany. In 2023, the company achieved sales of around 250 million euros, and Manz's earnings have been in the red in recent years. Sales of 170 to 180 million euros are expected in 2024, it said.
