The parties have signed a corresponding purchase agreement, insolvency administrator Martin Mucha told the German press agency DPA. A price was not communicated. According to the report, Mucha is pleased to have successfully concluded the negotiations with Tesla, saving many jobs.
The German engineering company Manz filed for insolvency in December 2024, after lenders said they would “not provide any further finding.” Either way, it was just a matter of time until Manz had to declare insolvency, as the company was over-indebted. The reason: A lack of orders from the electric mobility sector put the company in financial difficulties after the market did not grow as quickly as expected.
Manz has announced that the Local Court of…
