German Furnace Manufacturer Simplon Files For Bankruptcy
Unfortunately twice in the past week we have heard about German furnace manufacturers filing for Insolvency. In this case Simplon-Werk in Aue, Germany a supplier of heat treatment systems mainly for the automotive industry recently entered insolvency proceedings. The company will continue under court protection with their current 28 employees and will process all in house orders. From the trustees we have this statement’ “The Simplon plant had experienced a large setback last year due to the failure of a major furnace order from the USA. While the company was able to stabilize things in the first quarter of 2020 the Corona pandemic stopped many hoped for international orders. Sales were down 50-60% at the time the company entered Insolvency.” These photos show some of the systems the company has produced over the years.
Did you like this article? Click here to subscribe to The Monty.