The existence of vulnerable steel group Schmolz + Bickenbach is to be no unnecessary barriers to redevelopment in the way. Of the Lucerne cantonal government expects that the authorities will use their discretion in favor of the company.
The Lucerne-based Schmolz + Bickenbach (S + B) with the Swiss Steel plant in Emmenbrücke is in an existential crisis. The group requires additional capital. The Swiss Takeover Board (UEK) put the gleisten capital measures, however, high hurdles in the way of and rejected the requested derogation for the execution of a capital increase. The TOB argued that there was, at best, measures other rehabilitation.
S + B-major shareholder Martin Haefner wants to up to 325 million francs in company include the strong, but he wants to present to the other shareholders a takeover offer. The ICE did not want to get rid Haefner, however, of this duty to make an Offer. S + B not accepted the decision, the Swiss financial market has Supervisory authority (Finma) about it.
The Lucerne cantonal government is concerned about this development. He had intervened in the case of Finma, and Minister of the economy, Guy Parmelin , the economic interests of the Canton and of the S + B-perceive workforce, informed the state Chancellery on Wednesday.
insolvency
threatens The Lucerne cantonal government made to the Finma and the Federal Council Parmelin claim that S threatened B without a large capital increase in the event of insolvency. It should therefore be a top priority of all parties Involved, the company quickly needed funds. Only in this way it is possible to stabilize the S + B and the secure jobs.
The government expected that as a result, the emergency law provided for exemption from the mandatory offer will be applied. The authorities would use the discretion in favor of the company. The Industry, Switzerland was only with great efforts to be internationally competitive. It would be incomprehensible, if the authorities would not do anything to enable S + B a sustainable solution.
Also, the industry Association Swissmem had criticized the BOARD decision. As a result, a high risk arises that the 170-year-old company would have to sign up in the foreseeable future bankruptcy. In Switzerland, 800 jobs would be at risk worldwide, around 10’000 jobs would be affected. In addition, thousands of small shareholders would lose their investments. (fal/sda)
Created: 27.11.2019, 20:24 PM
