Daimler Westfalia insolvency
01/28/2010
'There are overhangs in administration.' The insolvency money will ensure continued operation until the end of March. 'By then, it should be clear in which direction the development is going.' The company had filed for insolvency at the Bielefeld District Court the day before.
Market slump affects Westfalia
The reason was the dramatically deteriorated market development in 2009, said Westfalia Van Conversion with. The slump in motorhomes reached around 40 percent on balance last year, it said. In addition, there are no signs of any fundamental improvement in the market this year. First, an inventory is on the program, said insolvency administrator Eckert. 'The order backlog is quite decent.' Currently, however, only the one-shift operation in production is fully utilized. These sales are not sufficient for the long-term survival of the company.
Westfalia offers attractive, high-quality but also correspondingly expensive products, said Eckert. In economically difficult times, consumers would initially save in the leisure sector. Top products from Westfalia cost up to 100,000 euros. 'The ideal solution would be a strategic investor.' The traditional company currently has around 170 employees. The turnover in 2008 was around 40 million euros. The company is part of the Munich industrial holding company Aurelius AG.
