From pv magazine Italy
The administrators of Italian inverter manufacturer Fimer have launched proceedings for its sale.
Under Italian law, extraordinary administration proceedings are used for large insolvent companies to protect assets and employees through continued or converted business activities.
The sale process aims to identify parties interested in submitting binding offers for the unitary and inseparable transfer of the Fimer corporate complex to new ownership.
“The procedure and requirements are detailed in the documents on our website which can be reached via this link,” a Fimer spokesperson told pv magazine Italia.
The sale includes the company's property, the factory in Terranuova Bracciolini in Italy's Tuscany region, machinery and equipment, a warehouse of raw materials and goods, certifications, authorizations, and employment contracts for 266 workers. It also covers other active and passive contracts, movable assets including registered ones, intellectual property rights, know-how, trademarks, and patents.
Interested investors have until Aug. 31 to submit offers.
Fimer announced an industrial relaunch in September 2022 after entering composition-with-creditors proceedings at a tribunal in Arezzo, Italy. The company filed for creditor protection with the same court in February 2023 and presented its new industrial plan to the tribunal in late June 2022.
In July 2023, Fimer said its board of directors chose Clementy Group as a strategic partner to acquire it, pending a decision by the Court of Milan. However, no further announcements have been made regarding this operation.
Fimer operates two inverter factories in Italy and one in India.
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