on Manz AG (isin : DE000A0JQ5U3)
Manz AG Sells Slovakian Subsidiary to Greatech Technology
Manz AG has sold its Slovakian subsidiary, Manz Slovakia s.r.o., to Malaysian company Greatech Technology Berhad. This decision comes as part of the insolvency proceedings initiated by Manz AG on 20 December 2024. The Stuttgart District Court officially opened insolvency proceedings on 24 February 2025. The funds from the sale are intended to benefit the insolvency estate.
Greatech Technology Berhad, based in Malaysia, specializes in automation solutions. The acquisition aims to continue operations in Slovakia, where Manz Slovakia, located in Nove Mesto nad Vahom, has around 240 employees. The company focuses on contract manufacturing for industries like semiconductors and medical equipment.
This sale aligns with Manz AG's strategy to sell economically independent subsidiaries in light of its current financial struggles.
R. E.
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