Wilbert seeks investment

Tower crane manufacturer Wilbert Turmkrane, which is in administration, is continuing its business operations while searching for a new investor.

Insolvency administrator Martin Lambrecht and the founder of the German company, Franz-Rudolf Wilbert said, on 26 February, that they have stabilised the business and retained all 129 employees. Lambrecht has engaged KPMG as an advisor to search for a new investor. “In recent weeks many strategic and financial investors have already indicated their interest in the company,” Wilbert said.

Wilbert said it filed for insolvency because many leasing companies and financial institutions are no longer willing to finance the purchase of cranes.

“In recent weeks we had fruitful discussion with our employees, suppliers, customers and creditors in order to stabilise the operating business. Additionally, many potential investors indicated their interest in Wilbert. Therefore we are very confident in finding a stable, long-term solution for Wilbert Group” said Martin Lambrecht of Leonhardt Rechtsanwälte in Düsseldorf.

Wilbert designs and manufactures tower cranes, including flat tops and luffers. In 2008 it built a new 140,000 square metre factory in Waldlaubersheim.

The other companies of the Wilbert Group are active in the crane rental business and are not affected by the insolvency of Wilbert Turmkrane GmbH. Wilbert Group reported 2011 sales of €59 million (US$ 77 million) with a workforce of 200.