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SonoVTS proceeds with restructuring in insolvency process

Stefan Waldherr appointed provisional insolvency administrator

SonoVTS has announced that it intends to press ahead with its restructuring process in insolvency proceedings.

The move is designed “to restructure the company quickly and to restore it to a solid financial basis together with new investors,” according to a statement by the transmission technology specialist.

Newly appointed provisional insolvency administrator Stefan Waldherr said: “Together with the Board of Management, I have already held initial discussions with the key customers of sonoVTS and I have received positive signals on their part with regard to the ongoing projects. 

“We have also already held initial discussions with potential investors, so we are currently very confident about the future prospects.”

SonoVTS MD Stefan Krömer added: “Nothing will change for our customers with regard to cooperation as a result of the insolvency proceedings, nor will the contacts in the company be affected. Business operations will continue at full capacity and without interruption; all orders will be processed as agreed.”