Manz AG sells subsidiary in Slovakia to Malaysian Greatech Technology Berhard
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EQS-News: Manz AG
/ Key word(s): Insolvency/Disposal
Manz AG sells subsidiary in Slovakia to Malaysian Greatech Technology Berhard
Reutlingen, 28 February 2025 – Manz AG announces that Martin Mucha, insolvency administrator of Manz AG, and Greatech Technology Berhad (Malaysia) today, 28 February 2025, have entered into a purchase agreement for the acquisition of the shares in Manz Slovakia s.r.o., a subsidiary of Manz AG. The proceeds from the sale will accrue to the insolvency estate of Manz AG. The listed company Greatech Technology Berhad, headquartered in George Town, Pulau Pinang (Malaysia), is an investment holding company that, through its subsidiaries, offers automation solutions in the fields of design, development and production of systems, machines and equipment, as well as engineering services. Manz AG, a developer of production solutions for lithium-ion batteries, electronic components and devices in the automotive and e-mobility, electronics, energy and battery manufacturing sectors, had filed for the opening of insolvency proceedings on 20 December 2024. On 24 February 2025, the Stuttgart District Court opened insolvency proceedings against Manz AG and appointed Martin Mucha, a lawyer from the Stuttgart law firm Grub Brugger, who has been acting as the provisional insolvency administrator since 20 December 2024, as the insolvency administrator. As part of the structured sales process, Manz AG's economically independent subsidiaries and other holdings that continue to operate in the market are also to be sold. Manz Slovakia s.r.o., based in Nove Mesto nad Vahom (Slovakia), has approximately 240 employees and is active in contract manufacturing for various industries, with a focus on the semiconductor, medical and packaging sectors. Manz Slovakia specializes in the manufacture of standardized and customized equipment suitable for series production as well as for prototype production and the assembly of small series. Greatech plans to continue the business operations of Manz Slovakia.
Contact: Manz AG Steigaeckerstrasse 5 Germany
28.02.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| Language: | English |
| Company: | Manz AG |
| Steigäckerstr. 5 | |
| 72768 Reutlingen | |
| Germany | |
| Phone: | +49 (0) 7121 9000-0 |
| Fax: | +49 (0) 7121 9000-99 |
| E-mail: | info@manz.com |
| Internet: | http://www.manz.com |
| ISIN: | DE000A0JQ5U3 |
| WKN: | A0JQ5U |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart |
| EQS News ID: | 2093575 |
| End of News | EQS News Service |
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2093575 28.02.2025 CET/CEST
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