Overview
- A court in Tübingen opened preliminary insolvency proceedings on April 7 for Betz International GmbH.
- The court appointed attorney Dirk Poff as the preliminary insolvency administrator.
- About 140 employees are affected, with wages covered for roughly three months by statutory insolvency pay.
- Poff said he is reviewing a continuation or a sale after early buyer interest.
- Managers pointed to high diesel prices, fierce price pressure and weak demand after in-house cuts failed to restore profits.