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The insolvency administrator Mr Daniel Barth from the restructuring company PLUTA has succeeded in finding an investor for P@P Picking Systems GmbH, with the transaction taking effect as of 18 April 2018.
The employees were informed by those responsible about the “happy end” to the negotiations at a staff meeting. The business operations of the automation expert are being transferred to SSI Schäfer, one of the world’s leading solutions providers for modular warehouse and logistics systems. Worldwide, the company has a workforce of around 10,000 employees in about 70 operating companies and more than ten production facilities in and outside of Germany.
P@P Picking Systems GmbH develops, manufactures and sells such products as fully automated order picking systems on a worldwide scale, specialising in customised solutions for small parts. In particular, pharmacies and clinics as well as companies in the optical industry use the order picking systems offered by the Nuremberg-based company with a branch in Schmölln, Thuringia. A successful partnership with the intralogistic expert has already existed for many years. By integrating the new employees, SSI Schäfer will further extend its comprehensive service expertise and increase capacities especially for handling small and medium-sized projects. As regards customer service, SSI Schäfer offers new and existing customers a broad range of services – from support for mechatronics and software components to system modernisation and preventive maintenance for fully automatic logistics systems on site.
The automation expert P@P had to file for insolvency at the beginning of March 2018. Mr Daniel Barth from PLUTA Rechtsanwalts GmbH then acted as the provisional administrator. With his consent, the company continued business operations and succeeded in completing an important order in Switzerland. At the end of March, proceedings were opened since the period for insolvency substitute benefits expired and there were no valid purchase offers. The Local Court of Nuremberg then appointed the attorney Mr Barth as the insolvency administrator. After proceedings had been opened, Mr Barth conducted talks with potential investors and succeeded in concluding the purchase agreement with SSI Schäfer following intensive negotiations. While drafting this agreement, he was supported by the PLUTA attorney Mr Martin Jungclaus.
Mr Barth commented, “This solution is really good news and shows that all our efforts in the past weeks have been well worthwhile. The staff will keep their jobs and be integrated into SSI Schäfer’s international team.”