English

Manz AG officially announces its application for bankruptcy restructuring

368
2025-01-07 15:24:49
See translation

Last month, Manz AG officially announced that the company is about to undergo bankruptcy restructuring. The board of directors of the company believes that due to insufficient liquidity and excessive debt, Manz AG intends to apply for bankruptcy proceedings in accordance with bankruptcy laws. The application is expected to be submitted in the next few days.

 



Manz AG is headquartered in Reutlingen, Germany. It was founded by Dieter Manz in 1987 and went public in Germany in 2006.

Manz AG focuses on the automotive industry and the electric vehicle sector, with over ten years of process and product experience in factory engineering for battery cell and battery production. The company focuses on automation, vision and measurement, laser processing, wet chemistry, and roll to roll processes, with professional knowledge and mastery of multiple core technologies and patents.

Manz AG's products include customized laboratory production equipment, pilot and small batch production equipment, as well as standardized modules and systems or turnkey production lines for mass production. In the field of laser technology, Manz AG's BLS 500 laser welding system can assemble individual battery cells into battery modules through high-precision welding, demonstrating the company's strength in laser technology.

In addition, Manz AG also provides innovative production equipment solutions in multiple fields such as solar energy, electronic devices and components, energy storage, OEM, and customer service.

Manz AG has multiple production bases worldwide, including Germany, Slovakia, Hungary, Italy, and China, as well as sales and service networks in the United States and South Korea. The company currently has approximately 1178 employees. As one of the world's major manufacturers of laser grooving equipment, Manz AG holds a significant market share in the global market.

On May 24, 2022, Manz AG completed its equity transfer, with Mercedes Benz China and Daimler Trucks investing. Subsequently, Manz AG also acquired shares in battery manufacturer Customs cells.

Manz AG, with such a large plate, should have been adept at industry competition, but has been deeply mired in a series of external economic pressures and financing difficulties in recent years.

Manz AG had a revenue of approximately 250 million euros in 2023, but had no profit in the previous year's financial statements and was in a loss making state. Since the beginning of this year, the company has faced considerable operational pressure, with pre tax losses ranging from 30 million euros to 35 million euros, and estimated annual sales for 2024 of only 170 million euros to 180 million euros, indicating a weak overall market environment. Since 2021, Manz AG has incurred an estimated loss of 88.55 million euros over nearly four years.

It is understood that after entering 2024, Manz AG's board of directors has had in-depth discussions with multiple lenders and investors regarding new equity and debt capital. Among them, Manz AG's discussion with an interested investor has entered the later stage, but the investor unexpectedly interrupted their investment plan. This means that apart from filing for bankruptcy proceedings, there are no other financing solutions that can ensure the necessary capital inflows for Manz AG to continue operating, which is considered the direct cause of the company's bankruptcy. Manz AG stated that negotiations with potential investors will continue during the bankruptcy proceedings. However, according to industry insiders, the bankruptcy of the company is only a matter of time.

Manz AG attributed the bankruptcy to market distortions in the European battery market. Previously, the company had invested heavily in battery production, investing significant resources in expanding production capacity and related technologies. However, the European battery cell market experienced a severe decline in 2024, with many major manufacturers choosing to postpone or directly cancel their investment plans, which dealt a heavy blow to Manz AG. For example, Britishvolt ordered production machines from Manz AG at the end of 2021, but had to file for bankruptcy about a year later.

In fact, as early as the end of November 2024, Manz AG announced the sale of its battery production equipment business and revised its fiscal year forecast, which had already been adjusted in June of that year. Despite facing bankruptcy difficulties, Manz AG is still actively seeking solutions. Meanwhile, Manz AG is engaged in specific and in-depth discussions with potential investors regarding the sale of its battery production department, with the aim of successfully completing the transaction by July 2025.

Source: OFweek

Related Recommendations
  • Shanghai Institute of Optics and Fine Mechanics has made progress in the field of femtosecond laser air filamentation self focusing threshold research

    Recently, the research team of the State Key Laboratory of Intense Field Laser Physics of the Chinese Academy of Sciences Shanghai Institute of Optics and Fine Mechanics has made progress in the research on the repetition rate dependent femtosecond laser air filamentation self focusing threshold. The relevant research results were published in Optics Express under the title "Pulse repetition rate ...

    2024-08-02
    See translation
  • The United States is expected to use "AI+lasers" to deal with space debris in the future

    Due to the increasing threat of space debris in low Earth orbit around the Earth, space agencies around the world are becoming increasingly concerned about this. According to a new study funded by the National Aeronautics and Space Administration (NASA), it may be possible to send space debris that may be at risk of colliding with orbiting spacecraft to safer orbits through a laser network deploye...

    2023-10-20
    See translation
  • The Science Island team has made new progress in detecting atmospheric formaldehyde

    Recently, Zhang Weijun, a research team of the Anguang Institute of the Chinese Academy of Sciences, Hefei Academy of Materials, made new progress in atmospheric formaldehyde detection, and the related achievements were published on the international TOP journal Sensors and Actors: B. Chemical under the title of "Portable highly sensitive laser absorption spectrum formaldehyde sensor based on comp...

    2023-09-21
    See translation
  • LiDAR solutions provider Cepton acquired by KOITO

    On July 29, 2024, Cepton, a provider of high-performance LiDAR solutions, announced the signing of the final agreement for its acquisition, making it the acquiring company's subsidiary in the United States.Image source: CeptonAccording to the agreement, the acquirer is the internationally renowned automotive lighting giant KOITO, which was established in 1915 and has a history of over a hundred ye...

    2024-08-01
    See translation
  • TriLite has partnered with AMS OSram to develop AR smart glasses displays

    TriLite has announced a technical collaboration with ams OSRAM, a global leader in smart sensors and transmitters. Ams Osram will supply its sub-assembled RGB laser diode to "light up" TriLite's Trixel® 3 laser beam scanner (LBS), the world's smallest AR smart glasses projection display.The award-winning Trixel® 3 LBS offers breakthrough compactness and light weight, as well as a bright an...

    2023-09-06
    See translation