MUNICH – No investors have been found for
Ruwel GmbH since it filed insolvency in February. As a result, the company is turning to layoffs to stay open.
An insolvency administrator has suggested that proceedings begin May 1. Until the end of April, employees will continue to receive salaries as insolvency payments from the German employment office.
Once one of the largest PCB makers in Europe, sales have been flat in recent years, with revenues of $205 million to $210 million. The company ranked 63rd on Dr. Hayao Nakahara’s NTI 100 List last year