Manz AG / DE000A0JQ5U3

Manz AG files for insolvency – Attorney Martin Mucha appointed as preliminary insolvency administrator

Manz AG / Key word(s): Insolvency


23.12.2024 / 19:35 CET/CEST
The issuer is solely responsible for the content of this announcement.

---

The German high-tech engineering company Manz AG, based in Reutlingen, has filed for insolvency proceedings at the Stuttgart District Court. By order of December 20, 2024, attorney Martin Mucha of the Germany-wide law firm GRUB BRUGGER was appointed as the preliminary insolvency administrator. Reutlingen, December 23, 2024 – Manz AG, a high-tech mechanical engineering company, develops best-in-class production solutions for lithium-ion batteries and electronic components and devices for its customers in the automotive and e-mobility, electronics, energy and battery manufacturing sectors. In view of the original market expectations for e-mobility, the company built up expertise at an early stage and invested in the expansion of capacities and technologies, particularly for battery cell production. Particularly in Europe, the expected market potential has not materialized as expected, with major international manufacturers postponing or canceling investments. For Manz, this meant that the high investments in technology and innovations could not be offset by corresponding revenues. In the coming days, a structured process will be launched that includes both the examination of a restructuring concept and the possible sale of parts of the company. Manz currently employs around 1,200 people worldwide, with around 400 employees at the German site. Revenues of around €170 to 180 million are planned for the current fiscal year. “I have informed the staff immediately about the insolvency application and announced that business operations will continue. Currently, I am getting an overview of the situation in the company together with my team,” explains the experienced restructuring expert Martin Mucha, who was appointed as the provisional insolvency administrator by the Local Court of Stuttgart.   About Manz AG
As a high-tech mechanical engineering company, Manz AG develops best-in-class production solutions for lithium-ion batteries as well as for electronic components and devices for its customers. This makes Manz an innovative pioneer for the global megatrends of electromobility and digitalization. Manz covers the entire range of modern production solutions: from customer-specific individual machines for laboratory production or pilot and small-series production to standardized modules and systems to turnkey lines for efficient mass production. Customers benefit from high resource efficiency with higher throughput and shorter time-to-market. With currently around 1,200 employees, the Manz Group develops and produces in Germany, Slovakia, Italy, China and Taiwan. There are also sales and service subsidiaries in the USA and India. Manz AG was founded in 1987 and generated consolidated sales of 249.2 million EUR in the 2023 financial year with the two segments Mobility & Battery Solutions and Industry Solutions. The shares (ISIN: DE000A0JQ5U3) are listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard).   About GRUB BRUGGER
For almost six decades, GRUB BRUGGER has been operating nationally and internationally, currently with offices in Stuttgart, Frankfurt am Main, Munich and Freiburg. Since its foundation in 1965, the law firm has consistently focused on insolvency, restructuring and commercial law. Advising companies in crisis and their creditors, insolvency administration and cooperation with financial investors and credit institutions have significantly shaped the profile of GRUB BRUGGER. GRUB BRUGGER is a law firm that has received multiple awards in the specialist and business press over the years and is one of Germany's leading addresses for insolvency and restructuring advice as well as insolvency and self-administration. More at www.grub-brugger.de. Martin Mucha is a specialist lawyer in insolvency and reorganization law, a partner at the law firm GRUB BRUGGER and, according to the JUVE Handbook of Commercial Law Firms 2024/2025, repeatedly one of the leading names in insolvency administration in Germany. Martin Mucha was also recently listed among the most renowned lawyers for restructuring in the WirtschaftsWoche ranking. The Working Group on Insolvency Law and Restructuring presented Martin Mucha with the “Insolvency Administrator of the Year” award in 2023. In the same year, the Handelsblatt named Martin Mucha “Lawyer of the Year” in the field of restructuring and insolvency law. Martin Mucha is a member of the Association of Insolvency Administrators and Trustees in Germany (VID) and the expert committee for insolvency law of the German Federal Bar Association. He is also a member of the Gravenbrucher Kreis.
Contact:
Manz AG
Katrin Neuffer
Tel.: [phone]
E-Mail: [e-mail]   Kirchhoff Consult AG
Michael Werneke
Tel.: [phone]
E-Mail: [e-mail]

---

23.12.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

---

Language:	English
Company:	Manz AG
	Steigäckerstr. 5
	72768 Reutlingen
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	http://www.manz.com
ISIN:	DE000A0JQ5U3
WKN:	A0JQ5U
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	2057109

End of News	EQS News Service

---

2057109  23.12.2024 CET/CEST