Creditors approve restructuring process for Thielmann
Thielmann has said creditors have approved the restructuring process and it is set to return to regular operations.
Schutzschirmverfahren (SSV) has allowed management to restructure the business quickly and proficiently. After approval from creditors, this process has already yielded results. Thielmann UCON’s infrastructure has been substantially streamlined and the improvements are reflected in the organisation’s finances. The balance sheet has been strengthened by €10m.
Managing director at Thielmann, Igor Ferlan, said: “This way, we want to build on our strengths in the past – lead times in line with the market, coupled with the highest quality standards for the benefit of our customers.
Following the recent drop in market demand due to the Corona crisis, the reluctance to invest is clearly noticeable in various customer segments. Thielmann has to become more flexible in order to be able to adapt to the changed demand situation.”
A higher degree of automation, adaptation of capacities to the reduced market demands and further qualification of employees will contribute to the stabilisation of Thielmann. Productivity and flexibility in the production processes have been sustainably improved the existing reorganisation concept.
The plant promises it will continue to deliver the highest standard of service to existing customers with business back as usual.
For more information visit www.thielmann.com
14th June 2021
