Production, spare parts supply and after-sales service continue as planned at Herbert Dammann. Orders are still being taken, and sprayers are being manufactured and delivered as normal.
The latest statement released by the German family-owned sprayer manufacturer, which filed for bankruptcy in June, states that discussions with potential investors are progressing well but have not yet concluded.
Furthermore, thanks to the measures implemented during the past few months, there is a possibility of successfully completing the restructuring under its own steam via a plan in response to the prolonged difficult market situation.
Cost structures have been adapted to the current market situation and further measures have been introduced to improve profitability in the long term.
Following an initial period of customer caution, new orders are coming in again and so far the order book has remained stable, comments chief executive Dr Jörg Grau of Herbert Dammann “We can see that our customers have confidence in Dammann’s future development,” he says, adding that the company believes there is a market need for its products and solutions.
The executive management remains in place and continues to run the company on a day-to-day basis supported by restructuring experts. The process is being overseen by a court-appointed trustee.
“Dammann has consistently implemented the necessary restructuring measures and has thereby created additional room to manoeuvre,” says trustee Prof. Dr Hendrik Heerma. “There is now an opportunity to shape the company’s future development and create viable structures for the future.”
Founded in 1979, today Herbert Dammann employs around 105 staff and most recently generated a turnover of around €35 million.
Dammann in talks with potential investors – Profi
Dammann in financial trouble – Profi
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