takeover
Insolvency administrator: Two interested parties for ETM

According to the insolvency administrator, there are two serious takeover bidders for the ailing auto parts supplier ETM. Lawyer Rolf Rombach announced on Thursday in Erfurt that the sales process would take a few more months. He expects investors to make a final decision at the end of September or beginning of October. Production in Saalburg/Ebersdorf is stable. Rombach said he was optimistic that business operations would continue. ETM manufactures plastic parts for the automotive industry.

According to the insolvency administrator, there are two serious takeover bidders for the ailing auto parts supplier ETM. Lawyer Rolf Rombach announced on Thursday in Erfurt that the sales process would take a few more months. He expects investors to make a final decision at the end of September or beginning of October. Production in Saalburg/Ebersdorf is stable. Rombach said he was optimistic that business operations would continue. ETM manufactures plastic parts for the automotive industry.

According to the information, there was a drop in sales at ETM due to the chip crisis, which was intensified by the high material prices. The company was therefore no longer able to service future liabilities and filed for insolvency at an early stage. According to Rombach, the insolvency proceedings were opened on February 1st. Around 430 people work for the automotive supplier.

dpa