insolvency
Mechanical engineer Manz: Tesla subsidiary buys part from bankruptcy
The insolvent mechanical engineer is handled. A Tesla subsidiary uses and takes over hundreds of employees. What is the background?
A daughter of the Tesla electric car manufacturer wants to take over more than 300 employees from the insolvent mechanical engineering Manz and corresponding systems in Reutlingen near Stuttgart in Swabia. A corresponding purchase contract between Tesla Automation GmbH and the insolvency administrator was signed, said insolvency administrator Martin Mucha.
No information was given in the communication. He flows into the bankruptcy estate.
Mucha said that it was happy to have successfully completed the negotiations led with Tesla, to receive many jobs and thus have made it possible for employees to have a professional future in the most famous automotive group of electromobility.
The Tesla subsidiary works in the area of the special machine building and has three locations so far. In the future, another will be added in Reutlingen. The approximately 100 departing Manz employees who do not switch to Tesla Automation GmbH are offered to convert the social disadvantages of the loss of their jobs in the best possible way.
Share owners are likely to go away empty -handed
Manz according to his own information supplies customers from the automotive industry and battery supplies. Expected sales in the area of electromobility would not have been realized as expected. Therefore, an application for bankruptcy due to insolvency and insolvency law’s over -indebtedness was submitted in December of last year. The once listed company is now gradually processed. Former shareholders are expected to go away empty -handed.
According to Manz from December, Manz employs around 1,200 people, including around 400 in Germany. In 2023, the company achieved sales of around 250 million euros, and Manz wrote red numbers in the result in recent years.
dpa
Source: Stern
