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AFL Europe is insolvent

The cable-harness specialist AFL Europe GmbH, based in Frickenhausen (Germany), had to declare insolvency.

February 22 2010, 10:49 AM
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Cable HarnessesAccording to a report in the Südwest Presse; difficulties with a delivery to automobile manufacturer Volkswagen (main customer for the company) triggered the insolvency. A new production structure that had been implemented meant that AFL Europe was not able to deliver on-time. As a consequence, VW demanded a compensation of around €90 million.

The provisional insolvency administrator Dr. Volker Viniol told the newspaper that he will try to stabilise business activities and that the production units in Eastern Europe should be sold to strategic investors. "With a little bit of luck, we have a chance to save around half of the jobs at AFL Europe", he continued in saying.

AFL Stribel Production - the electronics division - was already sold to EMS-provider Flextronics in early December and is not affected by the insolvency. Around 120 employees were taken on by the EMS-provider.

Anke Schröter
Anke Schröter

Comments

1. The Hungarian company no...
February 24, 2010
10:32
The Hungarian company not affected in this problem only AFL michels Gmbh.

This news is closed for comments.


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