Manz AG Updates on Preliminary Insolvency Proceedings

Manz AG announced the continuation of its operations amid the preliminary insolvency proceedings. A sales process now includes all business units, aiming to attract investors for a potential spring completion. The Frankfurt Stock Exchange will continue trading Manz shares, although a segment change from Prime Standard to General Standard is imminent. This change is expected to reduce costs and obligations, like quarterly statements. The insolvency filing in December 2024 was driven by unmet market expectations for e-mobility in Europe, especially in the battery cell market.

Insolvency administrator Martin Mucha from Grub Brugger law firm manages the process to protect assets and jobs. The battery cell market collapse in Europe, influenced by inadequate political support, led to postponed or canceled investments by producers, impacting Manz. Anticipated revenues from high technology investments did not materialize, prompting the company's financial distress.