The court of bankruptcy in Wels signed the takeover by Christof Industries yesterday. There is a two weeks’ objection period, which however can be seen as a mere formality. The deal was closed under a range of resolutory conditions concerning major foreign orders. Nevertheless, Johann Christof, CEO of Christof Industries GmbH, is optimistic that these last hurdles will soon be overcome.
All in all, the imminent takeover of FMT means substantial growth of Christof Industries GmbH: the Upper-Austrian/Styrian plant engineer realized a turnover of 110 million euros last year and employed an average of 800 people in Wels, Vienna, Werndorf near Graz, Slovenia and Bulgaria.FMT is firmly established in the energy and paper industry. For the Styrian location process administered by liquidator Astner, the takeover by Christof represents a big chance for continuation. In this regard, Johann Christof stresses that much work is being put into devising concepts for the restructuring and the future of the locations of Wels and Werndorf (which currently has about 160 employees). The goal, Johann Christof states, is the sustainable development of a group marked by international competitiveness and efficiency.
