IIIA - English translation of the Halberstädter Volksstimme article

Summary

Metke: “Our goal is a restart without Baey”

Halberstadt (wb). The Industrial Union of Metal Workers sees a good chance for a successful new start of Maschinenbau Halberstadt GmbH (MBH). According to IG-Metall head Mr Rainer Metke, the goal is to achieve a restart out of bankruptcy. So far, three parties would be interested and negotiations would have to be conducted within the upcoming months.

“First of all it is crucial which kind of bankruptcy procedure will be chosen”, said Metke. While the first kind provides for a procedure with the shareholders, the Union strives for a so-called übertragende Sanierung.In order to do so, a new company with new shareholders, which would take over employees and knowhow of the previous Maschinenbau GmbH would have to be set up. The Union tries to avoid that the current shareholder, Gaspower Ltd. Singapore, of the former director Dr Baey Lian Peck takes part in the restart of the company. “Only without Baey will there be an opportunity for a successful restart of machine building in Halberstadt”, said Metke. This point of view is shared and supported by the Ministry of Economics in Magdeburg as well as by the local authorities and municipality of Halberstadt.

The Maschinenbau GmbH had to file for bankruptcy last month after main shareholder and director Baey did not succeed in obtaining even a single noteworthy order for motor production within the three years since the acquisition of the company.

For years Mr Baey had announced orders from Asia worth several hundreds of millions of dollars, which the 180 employees were waiting for to no avail. In November the top management subsequently had tried to remove valuable blueprints of an 18-cylinder gas engine from the firm. The work council and the Union were able to stop this for the most part. The police and the department of public prosecution have since been investigating the incident.