While the administrators of Junckers Industrier A/S try to thrash out a takeover deal with Danish investment company Axcel, UK subsidiary Junckers UK is looking to expand its operations.
John Woolmore, managing director of Junckers UK, said: “In the UK we were big enough to negotiate our own finances so whereas the group was restricted by bankers as creditors, we had our own finances in place so could continue to operate.
“You can never pre-empt what is going to happen but it is 99% certain that by the end of March this business will be done and dusted. It will be good news as Axcel seem very professional people with a clear objective.
“Although our competitors said we would be bust by Christmas, here in the UK we are actually expanding our sales team.”
Mr Woolmore is confident that the Axcel takeover will be successful under the leadership of Lars Hermansen, a seasoned business manager with long experience in turnarounds.
Junckers Industrier has been in administration since November 12 and Axcel’s proposal was presented to employees on March 5 where it was well received.
An extraordinary general meeting of shareholders is expected to take place before the end of March when it is hoped final approval for the takeover will be given.
Another Junckers subsidiary, Junckers B.V. in Benelux filed for bankruptcy in January.
