Date: Thu, 28 Jan 2010 19:53:25 -0800
Reply-To: Jim Arnott <jrasite@EONI.COM>
Sender: Vanagon Mailing List <vanagon@gerry.vanagon.com>
From: Jim Arnott <jrasite@EONI.COM>
Subject: Re: Westfalia gone bankrupt
In-Reply-To: <071401caa088$2afe3660$80faa320$@net>
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From: http://www.zeit.de/newsticker/2010/1/28/iptc-bdt-20100127-475-23692066xml
Good chances for Westfalia Rescue
Rheda-Wiedenbrück (AP) - The liquidator of the Westfalia camper
manufacturer sees good prospects for a reorganization of the company.
The production was well organized, the products are high quality,
"said Rainer Eckert on Thursday in Rheda-Wiedenbrück.
"But there are surpluses in the administration." The insolvency will
ensure the continued operation by the end of March. "Until then,
should be fixed, is running in the direction of development." The
company had made the day before the district court of Bielefeld
insolvency.
Reason is the 2009 dramatic deterioration in market development, told
the Westfalia Van Conversion. The slump in motor homes have achieved
over the past year, on balance, around 40 percent, it said. In
addition, distinguished himself again this year, no fundamental
improvement from the market. First, stand up an inventory on the
program, "said liquidator Eckert. "The backlog of orders is very
orderly." Currently is busy but only the one shift in production. This
paragraph is not sufficient for long-term survival of the company.
Westfalia offer attractive, high-quality but expensive products in
accordance with it, "said Eckert. In difficult economic times,
consumers would initially save in the leisure sector. Top products
from Westfalia cost up to 100000 euros. "The ideal solution would be a
strategic investor." Currently, the traditional company has
approximately 170 employees. The turnover in 2008 was around 40
million euros. The company belongs to the Munich-based industrial
holding Aurelius AG.
Google translate is SOOOOOO cool.
And pictures!
http://translate.google.com/translate?js=y&prev=_t&hl=en&ie=UTF-8&layout=1&eotf=1&u=http%3A%2F%2Fmotorzeitung.de%2F6591%2Fnews%2Fwestfalia-ist-insolvent%2F&sl=de&tl=en
Jim
On Jan 28, 2010, at 6:10 PM, Tom Hargrave wrote:
> Part of reorganizing involves killing anything that does not
> contribute to
> the bottom line. Then if that's not enough they start killing off less
> profitable divisions. Their goal will be to trim down to their core
> competency.
>
> There may or may be some short term deals our there depending on
> what comes
> out of the woodwork but one thing's for sure, once they are through
> reorganizing don't count on support for anything over 7 years old.
>
> snip
>
> -----Original Message-----
>
> Subject: Re: Westfalia gone bankrupt
>
> They're trying for a re-organization.
>
> Looks like their sales were off 70% last year. Went from ~40
> million Euro
> in 2008 to ~12 million in 2009. Ouch!