The unfortunate saga of Overum, the Swedish plough manufacturer, has taken a new twist with it being declared bankrupt by its latest owners, FairCap, the German investment company based in Munich.
Faircap purchased the company from New Holland in April of last year, as the tractor manufacturer appeared to back away from its ambition of going full line and filling its dealers yards with blue implements as well as tractors.
The latest development centres around the sudden closure of the factory by trade unions after the company management resigned en bloc at the beginning of September.
This left the company rudderless and the factory unmanaged, and so the local trade union felt it necessary to step in and close the factory…