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The restructuring expert Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH managed to sell the business operations of Eureka Navigation Solutions AG to ASTO Telematics GmbH and thus to restructure the insolvent company by way of an asset transfer. ASTO Telematics took over the Eureka business on 1 April 2017. Five of the previously six employees will be kept on by the buyer. The sixth employee decided to leave the company. ASTO Telematics, headquartered in Gilching near Munich, is also active in the field of positioning, communication and sensor solutions.
On 31 March 2017, the Local Court of Munich opened the insolvency proceedings and appointed Mr Willrodt as the insolvency administrator. The attorney had previously been appointed as the provisional insolvency administrator following the court’s decision of January 2017. In the past few weeks, the PLUTA expert has succeeded in maintaining the company’s full scope of business activities. The reason for filing for insolvency was liquidity problems.
“We have found a very good solution for the company. By selling the business, we can ensure that both the company and their projects will continue and that the staff will keep their jobs. My thanks go to all the members of staff and customers that remained loyal to the company and thus also contributed to this successful development. I am very happy that we have succeeded in achieving a feasible solution for the future within a short period of time,” said the PLUTA expert Mr Willrodt.
Eureka Navigation Solutions develops positioning, communication and sensor solutions for logistics and fleet management at their sites in Munich and Oberpfaffenhofen. The company specialises in energy harvesting solutions for positioning and locating objects without any power supply, such as freight wagons, locomotives or transport containers. Moreover, the company has developed a mobile data communications system which allows the use of many battery-powered radio sensors. Simple, but holistic sensor and telematics solutions for the rail, trailer, container and special packaging industries are tailored to meet the customers’ specific requirements. The company’s solutions provide support for precise maintenance by means of push and pull messages as well as assistance in the event of vandalism and theft. Merging Eureka’s systems with those from ASTO now offers sustained and efficient help to keep damage at a minimum level.