13 November 2012
13 November 2012
GES Deutschland, the European market leader in the domain of wind energy systems services, will take over service operations of the wind energy systems manufacturer PowerWind seated in Hamburg.
In one of the first insolvency proceedings in self-administration under a new law on facilitating restructuring of insolvent businesses (ESUG), PowerWind CEO Dieter Dehlke cooperated closely with the insolvency trustee Dr. Sven-Holger Undritz, White & Case Insolvenz, to entirely retain the company's service organization by way of transferring restructuring. Service operations and all associated employment contracts were transferred to GES Deutschland as of November 1, 2012.
"Of all entities interested in this particular service organisation, GES Deutschland was able to submit the most convincing overall concept," said CEO Dieter Dehlke. Dehlke is optimistic about continuation of service operations by GES Deutschland: "Staff structures of both PowerWind and GES match together well, which is why I see enormous potential for these two entities jointly expanding their position on the market."
The buyer side shares in this optimism. "We concerned ourselves intensively in the past weeks with the PowerWind service organisation, and we are convinced this is a sound investment," said Peter Grosch, CEO GES Deutschland. His plans are to entirely retain and even expand the service business. "We see lots of good potential, and we seek to benefit from PowerWind staff's experience and know-how."
In addition, a major share of inventories, production-related assets and IP rights required for production of PowerWind system were sold to the RK Wind company in India.
In his efforts aimed at company restructuring, PowerWind CEO Dieter Dehlke was supported by the Wellensiek law firm specialised on insolvency law and insolvency proceedings.
In response to growing market demand, METYX USA is boosting production of its range of high-performance technical textiles in its factory in Gastonia, North Carolina, US which recently gained ISO 9001:2015 QMS accreditation.
Cristex Composites Materials has recently expanded its product offering with the addition of a new Zünd G3 precision cutting system, enabling the company to offer its customers an enhanced cut quality and precision service.
Enabling leaders across professional racing to gain a competitive edge with state-of-the-art 3D printing, Stratasys unveiled a new collaboration agreement with Andretti Autosport.