Hamburg based Web treatment specialist Softal electronic has declared financial insolvency – ‘due to increasing pressure exerted in large part by the very slow payment of customers strained by the worldwide financial squeeze’.
A new operation - Softal Corona & Plasma GmbH – has been incorporated to ensure upcoming business and guarantee the supply of spare parts.
Dr Philipp Lichtenauer states: “As the CEO I am disappointed that we have had to take this path. Softal’s successful orchestration of innovative products/technologies and consistent marketing and distribution is needlessly being slowed down. The marketplace is being denied much needed innovative products that could provide more efficient production tools.”
Customers and partners have responded supportively, he says. “There is clearly a common consensus that Softal should emerge stronger due to this course of action. In contrast to the manufacturing businesses like ours that invest intensively in research, businesses which are not dependent on the credit system had an easier time of it. Our claim to leadership in R&D requires a higher level of working capital.”
The Softal board is being advised by Hamburg insolvency administrator Jens-Soeren Schroeder, and Philipp Lichtenauer is convinced ‘an organised and stable restructuring will guarantee the continuing stability of all of Softal’s valued relationships’.
The company has been developing surface treatment systems for the past 50 years and sold ts systems in 45 countries.
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