“The sale secures LTH a sustainable future under the roof of a new operator,” said lawyer Christian Otto of the law firm hww wienberg wilhelm. “It is particularly pleasing that the vast majority of the employees could be taken over.” The acquirer, a subsidiary of the Nestor group of companies, took over the business operations of LTH as of April 1, 2013. Remain silent has been agreed on the purchase price.
LTH System Berlin GmbH filed for insolvency in July 2012 and insolvency proceedings were opened on 1 October 2012. Since then lawyer Otto had continued the business operations of the traditional Berlin-based company in full and searched for investors. At the same time, he had to implement significant remedial measures in order to manage the deficit of the LTH and to interest potential investors. “The successful conclusion of the negotiations with the investor shows that our reorganization course and the great commitment of all participants, in particular the employees and the creditors' committee, has paid off in recent months,” said the insolvency administrator. “In particular, we were fortunate that the customers of LTH have remained loyal through consistent further commissioning and want to continue to accompany the company on its way.” It is also pleasing that the business operations in Berlin-Spandau will be continued, thus maintaining the favorable logistical connection to the main customers.
LTH System Berlin GmbH specializes in the development of components and sheet metal processing in energy and rail technology. As a dynamic medium-sized company with sales of up to EUR 10 million per year, LTH constructs and manufactures complex customized system assemblies of aluminum, stainless steel and steel for a variety of demanding industrial applications.