GEIGER TECHNOLOGIES
Failed payments force auto supplier into administration
Automotive supplier Geiger technologies (Garmisch-Partenkirchen / Germany; www.geigertechnik.de) went into administration on 1 February 2009 following last November’s application to open insolvency proceedings – see Plasteurope.com of 19.11.2008.
Operations are currently continuing at three Geiger facilities in Germany with the support of German car makers. The Polish subsidiary Geiger technologies Polska in Sosnoviec, about 120 km south-east of Wroclaw, has not yet been affected.
A spokesperson for the administrator said that Swiss company Advanced Biotechnological, which had expressed an interest in the company, had not transferred agreed funds.
Sintex Industries (Kalol / India; www.sintex-india.com), which took a majority stake in Geiger last summer (see Plasteurope.com of 26.08.2008) has not issued any information since failing to make an agreed payment.
Operations are currently continuing at three Geiger facilities in Germany with the support of German car makers. The Polish subsidiary Geiger technologies Polska in Sosnoviec, about 120 km south-east of Wroclaw, has not yet been affected.
A spokesperson for the administrator said that Swiss company Advanced Biotechnological, which had expressed an interest in the company, had not transferred agreed funds.
Sintex Industries (Kalol / India; www.sintex-india.com), which took a majority stake in Geiger last summer (see Plasteurope.com of 26.08.2008) has not issued any information since failing to make an agreed payment.
06.02.2009 Plasteurope.com 777 [212761]
Published on 06.02.2009
German version of this article...