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04. July 2011

GER - EGM Automotive: insolvency financed production continues

Provisional insolvency administration stabilized operations

- provisional insolvency administration stabilized operations
- Initial negotiations with service providers and suppliers successfully
- conversations with clients received the preliminary insolvency administrator of the EGM Automotive GmbH, in consultation with the relevant employment agency Moenchengladbach in the insolvency fund for the 170 employees of the automotive supplier financed.

"wages and salaries are paid first," explained Bernd Depping, on 28 June 2011 had been appointed provisional liquidator. Moreover, were the first negotiations with service providers and suppliers are successful ". deliver services such as our current suppliers and our suppliers, we continue to appropriate cost commitments so we can perform our jobs and maintain the business," said Depping further. As of Thursday afternoon were "the ovens up again" because the utility was running again. The large order from a major customer will therefore timely to start the 27th Completed calendar week.

First up customer calls would give rise to "cautious optimism". In the coming days and weeks, the first hearing dates were agreed upon. "The expected medium-and long-term order position is a key indicator of the redevelopment concept that we have worked out together with the management by the end of August," Depping said in conclusion. Business EGM Automotive EGM produces exhaust manifolds, camshafts, parts for engines, turbines, compressors. EGM supplies manufacturers of drive systems, pumps, compressors, supplying companies for the construction of cars such as commercial vehicles and agricultural machinery. dnp Depping

The shareholders of the dnp Depping GmbH & Co. KG as Depping Nicholas & Partners since 1995 as bankruptcy and been in business since 1999 Insolvency . dnp Depping has acquired over many years of practical legal expertise. In addition, focusing on extensive observation dnp Depping any insolvency proceedings, both economically and organizationally.

 

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