Posts tagged: chaper 11

An unwelcome IPEX surprise: Böwe Systec files for opening of insolvency proceedings

Ralf Schlozer
 May 24, 2010

On May 20, 2010 Böwe Systec AG, one of the three global leading manufacturers of inserting equipment, declared the opening of insolvency proceedings (the German equivalent to chapter 11). The announcement by Böwe Systec came as a bit of a surprise to stock market analysts as orders for the first 4 months in 2010 had increased by 40% over the previous year, although revenues were down considerably in 2008 and 2009. The announcements, which came at IPEX 2010 in Birmingham UK (this year’s largest international graphic arts show) also took Böwe’s staff by surprise.

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