Chemical Week Magazine :: Business & Finance :: Europe/Mideast
Stockmeier to acquire insolvent distributor Kruse, retain employees
7:15 AM MST | January 18, 2013 | —Sotirios Frantzanas
Stockmeier Holding (Bielefeld, Germany), a chemical distributor, says it has made a binding offer to acquire Kruse Holding (Balve, Germany) and its subsidiaries. Kruse filed for bankruptcy on 8 January 2013, citing liquidity issues. The deal is expected to be completed by the end of January and, as a result, the insolvency applications for the three insolvent Kruse group companies will be withdrawn. All 431 of Kruse’s employees will be retained, Stockmeier says. The transaction remains subject to approval by the German Federal Cartel Office. Stockmeier says...
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