Panels and door blank producer Moralt Tischlerplatten GmbH, which is in administration, will make an announcement about its future soon, according to CEO Klaus Feile.
Bad Tölz-based Moralt filed for insolvency last summer after suffering setbacks of high timber prices, competition from a lower-cost Romanian producer and liquidity issues (due to Moralt’s bank BNP Paribas Fortis withdrawing credit lines).
Mr Feile confirmed that talks with investors were progressing with a view to achieving a sale of the business to third parties, based on securing the fu-ture of the Bad Tölz production.
Moralt’s blockboard production is planned to be shut down in any prospective deal
Previous updates from Moralt had shown an increase in order intake and turnover, with price rises successfully implemented
Moralt employs about 150 people and has an annual turnover of around €32m, of which 35% comes from exports.
