Friday, January 17, 2014

10:19 German electronics giant Loewe was saved from bankruptcy - BBC

NEWS ECONOMY

January 17, 2014 10:19

of Germany’s oldest electronics giant Loewe, created at the last minute was saved from bankruptcy by a consortium of companies.

The statement

; thanks consortium Loewe’s still in a German group of companies that have been specified.

bankruptcy due to financial problems in October last year admitted to the manufacturer Loewe television and electronic musical instruments, has withdrawn from the stock market after the bankruptcy filing.

in November, two

investors interested in Loewen had been mentioned.

650 staff working in German companies, the situation remains unclear.

Within the framework of the restructuring

partnership with a Chinese company coming up, how much of the staff will remain to be clarified.

turnover of 250 million Euros in 2012, the German company, more luxury class was directed to the production of television and stereo. However Loewe, who stayed back in the race with their competitors in the Far East.

details of this outcome on the deal, expected to be announced later today.

(Xinhua)

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