PVTIME – Manz AG, a German high-tech ES engineering company, has recently filed for insolvency. Manz has decided to strategically divest its lithium business and then focus on automation, semiconductor and high-precision equipment foundry manufacturing, and will increase its investments in these areas. The company is currently in talks with potential investors for further financing and the transaction is expected to be completed in the first half of 2025.
As a high-tech engineering company, Manz AG develops best-in-class production solutions for lithium-ion batteries and electronic components and devices for its customers in the automotive & e-mobility, electronics, energy and battery manufacturing sectors. The Manz Group develops and produces in Germany, Slovakia, Italy, and China. It also has sales and service branches in the USA and India.
In view of the original market expectations for electromobility, the company built up expertise at an early stage and invested in the expansion of capacities and technologies, particularly for battery cell production. In Europe in particular, the anticipated market potential did not materialise as expected, and major international manufacturers postponed or cancelled their investments. For Manz, this meant that the high investments in technology and innovation could not be offset by corresponding revenues. In the coming days, a structured process will be initiated, which will include the examination of a restructuring concept as well as the possible sale of parts of the company. Manz currently employs around 1,200 people worldwide, of which around 400 are based in Germany. Revenues for the current fiscal year are expected to be between €170 and €180 million.
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