Manufacturing and Engineering
A proven track record is the best way to demonstrate our strength and depth of expertise. Below are examples of our team’s recent appointments.
Evraz Highveld Steel and Vanadium Limited
Evraz Highveld is the second largest steel manufacturer in South Africa. It is the country’s only producer of heavy structural steel products and only one of five such companies in the world.
In 2015 the Board and management advised that the firm did not have sufficient funding to meet its financial obligations for the short term as a result of historical operational and financial difficulties and extremely difficult steel and vanadium market conditions. It was resolved to place the company into Business rescue.
Initially an accelerated M&A process was entered into, in order to find a strategic investor, and ways of reducing costs were implemented. Several independent environmental specialists were appointed to evaluate and assess the potential environmental liability and a rotational lay off agreement was entered into with the unions, and later, a full retrenchment of all the staff.
In an attempt to preserve value, an application was submitted to the International Trade Administration Commission (“ITAC”) for import price protection. Several private and governmental entities were approached in order to obtain post commencement funding.
The process is currently still underway.
Integrated Distribution & Print Business
Farber’s multi-disciplinary team were engaged by the private equity fund/shareholder to provide advice and guidance to the Board of Directors and management team as the Company operated through a financial and operational turnaround.
Our duties included assessing and building the management team, advising on all financial and cash flow implications as well as assisting in all aspects of operational performance improvement.
Farber were able to develop strategy, including closing facilities and building sales capabilities and recruit a new CEO and sale staff, resulting in a 20% improvement in productivity and ensuring the cost of capital is optimised. Farber are continuing to provide support for finance and operations of the business.
Leader in the single home construction business
A receiver appointed by the court asked Zalis to guide a home builder ranked number 2 in France, out of its cash flow crisis.
Zalis assisted the management and shareholders to deal with a business slowdown, using a large operational team to audit the group (and its different business units spread across France) and to build an action plan to rescue the business.
The resulting action plan was implemented over a full year. Once the rescue had proved successful, a buyer was found for the company.
Redmond Repetition Engineers Pty Ltd - Australia
We were appointed by creditors (Including a major Australian trading bank) to this highly regarded manufacturer of components for the military, aviation and automotive sectors. As liquidator we continued to trade the business for the benefit of service to key customers, including the manufacture auto-industry parts for sale to the US market, and bullets for the Australian Army whilst the business was marketed.
After a successful marketing and sales process we sold all the assets to various buyers around the world.
Reinhold Meister GmbH
PLUTA Rechtsanwalts GmbH succeeded in selling a major division of the Deggendorf-based company Reinhold Meister GmbH. The company operated in the area of civil and marine engineering and generated revenues of approximately € 100 million. Moreover the Insolvency Administrator, Ivo-Meinert Willrodt, ensured that that company’s extensive construction programme continued unaffected after consulting with the buyer. Insolvency proceedings were opened on 1 February 2012.
Gebr. Märklin & Cie GmbH
In 2013, PLUTA Rechtsanwalts GmbH succeeded in selling the Göppingen-based toy manufacturer Gebr. Märklin & Cie GmbH to a member company of the Simba-Dickie Group. After Märklin, a traditional German enterprise, filed for insolvency in March 2009, we pursued a course of restructuring and brought the model railway manufacturer back on the road to success. The insolvency Administrator, Michael Pluta, managed to fully meet the creditors’ claims. The payout to all the creditors has in the meantime reached a sum in the high-eight-digit range.