In 2009 Knight Wendling was mandated by the administrator to find a suitable best strategic new owner candidate to take over the insolvent business of Sakthi Germany.
Discussions and negotiations with various industrial and financial parties were held - but with the proposal from Dr. Schmitz-Cohnen to involve MAT Holdings Inc. Illinois / USA in the process, things started moving forward.
The result is that 700 workers in Neunkirchen/Saarland and Ueckermünde/Mecklenburg-Vorpommern – both Germany – remain to have their jobs and are saved from bankruptcy in Germany.
MAT signed the Assets Deal-Purchase Contract in March 2010 and has made a strong move into the Automotive Brake Parts Casting Business in Europe.
Knight Wendling congratulates all parties and wishes success upon the new formed activity.
For further information, please contact:
Managing Director - Knight Wendling
Fon +49 211 77006-65