The provisional insolvency administrator, Dr. Frank Kebekus, and ZF Friedrichshafen AG have today concluded the sale of Honsel's subsidiary Fonderie Lorraine S.A.S. to ZF Friedrichshafen. With this transaction, a first major step towards restructuring has been completed.
"Selling Fonderie Lorraine, Honsel now is in the position to continue its operations in a sustainable and profitable manner and further represents an attractive asset for investors," said Dr. Frank Kebekus, provisional insolvency administrator for Honsel.
In the current fiscal year 2010/2011, Fonderie Lorraine expects revenues of around EUR 45 million and supplies German and French automakers and suppliers, above all,
"Selling Fonderie Lorraine, Honsel now is in the position to continue its operations in a sustainable and profitable manner and further represents an attractive asset for investors," said Dr. Frank Kebekus, provisional insolvency administrator for Honsel.
In the current fiscal year 2010/2011, Fonderie Lorraine expects revenues of around EUR 45 million and supplies German and French automakers and suppliers, above all,
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