4/11/2011 1:42:00 AM
NEWS BRIEFS
Report: Administrator Appointed For Struggling Max Mothes
Two insolvency websites in Germany have confirmed that a Dusseldorf court appointed Dr Frank Kebekus as provisional administrator for Max Mothes GmbH., according to Fastener + Fixing magazine.
The fifth generation family company, which started trading in 1918, has 300 employees likely to be affected by the failure.
Long renowned as the Germany fastener industry’s “lender of the last resort” for more obscure fastener products (the company reckoned to hold some 90,000 fastener items on stock) Max Mothes also operates a large machining shop cutting and threading large diameter/long bolting products and provides kanban and other vendor managed inventory services to fastener users.
Recently contacts at the company had told Fastener + Fixing magazine it had adopted a strategy to redirect its business more strongly towards the user market. The company had also announced on its website that it was expanding its production and warehousing operation in Neuss Uedeshelm.
Founded in 1918, Max Mothes started focusing on trading with “screws, nuts and fasteners of all kinds” after World War I, according to the company website. Max Mothes began manufacturing fasteners in 1921. ©2011 GlobalFastenerNews.com and Fastener + Fixing
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