Germany: SIAG Rescued from Bankruptcy

Germany SIAG Rescued from Bankruptcy

SIAG Schaaf Industries CEO Andrew Seidl said that the company has been saved from bankruptcy, writes German Täglicher Hafenbericht.

The company announced bankruptcy last year in October.

At the creditors’ meeting, which was held on Wednesday, a reorganization plan was approved.

This decision has terminated the insolvency proceedings and saved around 1,800 employees.

[mappress]

Offshore WIND staff, March 08, 2013; Image: siag