SH+E is pursuing restructuring through insolvency proceedings Business operations are to be continued

The SH+E GmbH, together with its subsidiaries, is seeking to restructure through insolvency proceedings. "A reevaluation of ongoing projects in plant construction has shown that we face deficits and the risks are higher. Since further financing was no longer feasible under these conditions, we have today filed an application for the opening of such proceedings at the Waldshut-Tiengen District Court. The goal is to preserve the operations of the SH+E Group and as many jobs as possible," emphasizes SH+E Managing Director Eckhard Rau.

The application for the opening of insolvency proceedings also includes the subsidiaries STULZ-PLANAQUA GmbH, Hager + Elsässer GmbH, STULZ GTA GmbH, H+E PACKTEC GmbH, H+E PROTEC GmbH, H+E S-Tec GmbH, as well as LimnoTec Wastewater Systems GmbH. Business operations at all companies are to continue initially. The employment conditions of all employees at the companies that have filed for insolvency remain unchanged, with all rights and obligations intact.

"The preliminary insolvency process creates financial leeway for restructuring. We want to work together with the preliminary insolvency administrator to find a solution to permanently preserve the individual operations and as many jobs as possible. However, this depends on continued active support from our customers and suppliers, and the continuation of our long-standing business relationships," Rau emphasizes.

However, more details about the restructuring concept can only be provided once the preliminary insolvency administrator has taken up their work. The appointment of the preliminary insolvency administrator is expected tomorrow.

In Germany, around 700 employees are employed within the SH+E Group. The main locations are Grafenhausen (119 employees), Stuttgart (190 employees), Bonndorf (53 employees), Ahaus (65 employees), Nettelstedt (55 employees), Bremen (50 employees), and Dresden (52 employees).

The foreign subsidiaries, as legally independent entities, are initially not affected by the insolvency applications and will continue to operate as before.