SaarGummi GmbH: Insolvency proceedings officially opened
Saarbrücken. Saarbrücken County Court opened the insolvency proceedings over the assets of SaarGummi GmbH today and appointed Jean-Olivier Boghossian from the law firm Schultze & Braun as liquidator.
The court has therefore concurred with the recommendation of Boghossian who confirmed in his previously prepared expert’s opinion the existence of insolvency and over-indebtedness as the grounds for the insolvency.
SaarGummi GmbH concerns the parent company of the SaarGummi Group. With the exception of SaarGummi Deutschland GmbH, whose insolvency proceedings were opened at the same time, all other 22 domestic as well as foreign companies of the Group, are not affected by the insolvency and will continue to operate to an unlimited extent. Udo Gröner, Heimes+Müller was appointed as liquidator of SaarGummi Deutschland GmbH.
Parallel to this the sales process of the group is now moving into the decisive phase according to the information of Boghossian and Gröner. ”We are currently conducting the final negotiations with the remaining interested buyers. According to the current status we are confident that we will have achieved a solution for investors by no later than the end of the month which comprises the entire SaarGummi Group”, the two liquidators stated.
The SaarGummi Group is a leading manufacturer of seal systems in the world above all for automotive applications. The rubber processing company is a development partner and components supplier of the automotive industry in Europe, North and South America as well as Asia. Production is carried out in Germany, Czech Republic, Slovakia, Spain, India, Brazil, China and the USA. The business object primarily exists in the development and production of body seals and the production of the associated tools. In addition, moulded articles are produced, which are used in the industrial sector for hydraulics and safety technology as well as in the shoe industry. The group further supplies the building trade with seal systems for windows, facades and roofs. In 2010 SaarGummi generated revenue of around Euro 360 million, thereof Euro 320 million in the automotive sector worldwide with around 4,400 employees in 23 companies with 12 production plants.
Supplementary information material:
Jean-Olivier Boghossian (Schultze & Braun)
Photo: http://www.schubra.de/de/presseservice/fotoarchiv_ap.php?id=3659
Profile: http://www.schubra.de/de/ueberschubra/ap_profil.php?id=3659
Udo Gröner (Heimes & Müller)
Profile: http://www.heimes-mueller.de/Udo_Groener.html
Press spokesman: Nico Krespach
E-mail: NKrespach@schubra.de, phone: 07841/708-0
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Schultze & Braun Rechtsanwaltsgesellschaft für Insolvenzverwaltung mbH http://www.schubra.de, Email: mail@schubra.de |