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District Court of Stuttgart appoints Joachim Exner as preliminary insolvency administrator

Böblingen/Stuttgart, Germany, July 31, 2019 – The District Court of Stuttgart appointed Joachim Exner as preliminary insolvency administrator for the Eisenmann companies proceedings. By this decision, the court followed the petition of the companies.

Joachim Exner, specialist in insolvency law and partner of the law firm Beck & Partner, is a nationally recognized specialist for complex insolvency proceedings. The law office is one of the leading law firms in the area of insolvency administration in Germany. Exner has distinguished himself in the past above all by the successful support of various automotive suppliers.

Dr. Michael Keppel, who has been with the company since the beginning of April as senior restructuring specialist, welcomes the appointment of the provisional insolvency administrator and looks forward to the cooperation with great confidence. “A highly motivated team of employees”, Keppel said, will "do everything possible to stabilize the company despite the difficult situation that has arisen and to achieve the best possible solution for creditors and employees under insolvency conditions.”

Eisenmann SE filed a petition for the opening of insolvency at Stuttgart District Court with the aim of accelerating the restructuring and strategic reorientation of the Eisenmann Group, which began in March 2019. Applications were also submitted to Eisenmann Anlagenbau GmbH & Co. KG, Eisenmann Lactec GmbH and ENisco GmbH & Co. KG.

The owner and management of the Eisenmann Group initiated the restructuring and strategic reorientation of the company in March 2019. The acquisition and completion of various major projects in 2018 had led to a large year-on-year loss. "We had to act fast and consistently here. At the same time, we also wanted to create the strategic and structural foundations for the competitiveness”, emphasized Keppel.

The preliminary insolvency administrator will now quickly analyze the current situation and will hold talks with the parties involved at very short notice, in order to examine the restructuring options for the group of companies in whole or in part.

About Eisenmann

Eisenmann is a leading global industrial solutions provider for surface finishing, material flow automation, thermal process technology and environmental engineering. The family-run enterprise is headquartered in southern Germany and has been advising customers across the globe for more than 65 years. It designs and builds flexible, energy- and resource-efficient systems that are tailored to customer requirements, and support state-of-the-art manufacturing and intralogistics. Today, Eisenmann has a workforce of approximately 3,000 worldwide, with 27 locations in 15 countries in Europe, the Americas and the BRIC countries. In 2017, Eisenmann generated annual revenues of 723 million euros.

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