Germany

Germany

Tower firm Ambau files for insolvency

Ambau, a German manufacturer that has been making wind turbine towers and offshore wind turbine foundation and transition pieces since 1993, applied to the Cuxhaven District Court to open insolvency proceedings.

Tower manufacturer Ambau filed for insolvency in mid-February
Tower manufacturer Ambau filed for insolvency in mid-February

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The court designated legal practice Görg as provisional insolvency administrators for Ambau’s works at the port of Cuxhaven in Lower Saxony and Gräfenhainichen in the eastern state of Saxony-Anhalt, with  around 350 employees in total.

Its Bremen works was closed in October 2016.

The order backlog at Ambau was "until recently, satisfactory" said Görg, adding the administrators would initially try to ensure that production continues and seek solutions for future operations.

Ambau had already begun the search for investors before the insolvency proceeding began, and this search will continue.

Employee pay is secured via an insolvency fund financed for the next three months, said the law firm.

Ambau's recent business included an order for 50 onshore wind turbine towers, with five segments each, from Nordex in May 2018, due to be built at the Gräfenhainichen works in the first half of 2019 and transported to the Netherlands for installation.

Ambau’s offshore wind project customers have included Alpha Ventus, Bard Offshore 1, Thornton Bank, Global Tech 1, Meerwind Süd/ost, Sea Angel, Wehlens, Nordsee One and Nordergründe.

Published company results reveal a loss of €4 million on turnover of €232 million in 2016, with expected turnover of some €100 million in 2017 accompanied by a loss of €11 million.

The 2017 and 2018 business results have not yet been published.

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