Schletter GmbH Restructuring under Self-Administration
Posted By: Schletter Inc. on March 26, 2018
At Schletter, we want to keep our customers and partners well informed. You may have seen in the news earlier this week that Schletter GmbH in Kirchdorf, Germany announced restructuring under self-administration. This is very similar to Chapter 11 proceedings under U.S. law.
The Schletter Group, with production facilities in Germany, the United States, and China are a global network of distribution and service companies. Schletter Inc., located in Shelby, North Carolina, and Schletter Canada Inc., located in Windsor, Ontario are the North American branches of the larger Schletter Group. Schletter Inc. and Schletter Canada Inc. were not included in the Schletter GmbH restructuring plan, and operate as financially independent organizations, unaffected by the restructuring process.
What does this mean for Schletter's customers and partners?
- Both Schletter Inc. and Schletter Canada Inc. will continue design, manufacture, and support customers for all their solar racking projects.
- While financially independent, the Schletter Group works closely with Schletter GmbH, and other subsidiaries collaborating on product engineering, sales and marketing, etc. to offer a premier solar racking solution to customers worldwide.
What does this mean for the Schletter headquarters in Germany?
- At its core, Schletter GmbH is a healthy company.
- The self-administration proceedings offer a legal framework to solve the financial issues and bring the restructuring to a successful conclusion either by reaching a settlement with the creditors or by involving investors.
- Business operations continue at full capacity for Schletter GmbH in Germany. The headquarters will continue to manufacture and deliver quality products in a timely manner.
- The restructuring process is expected to be complete in the summer.
For more information about the Schletter GmbH Restructuring, please check out the news release or feel free to call Schletter Inc. at 888-608-0234 to speak to a sales representative.
1001 Commerce Center Drive
Shelby, NC 28150
Call: (888) 608 - 0234
Fax: (704) 595 - 4210
SCHLETTER CANADA INC
3155 Howard Ave, Unit 202
Windsor, ON N8X 4Y8
Call: (519) 946 - 3800
Fax: (519) 946 - 3805