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Another girl from Waagner-Biro insolvent
VIENNA. The empire of Viennese steelmaker Waagner-Biro AG collapsed. After the closing of the subsidiary SBE Alpha AG (Stahl-Glas-Technik) at the end of October and the sale of Austria Stage Systems AG (technology of the stage) to the renovator Erhard Grossnigg, the Third subsidiary of Bridge Systems AG (construction of bridges) has requested the opening of the lawsuit.
Waagner-Biro falls apart. Picture: factory
According to this, problems in a project to supply panel bridges led to bankruptcy. According to Creditreform, AKV and KSV1870 creditors' badociations, the total liabilities amount to more than 70 million euros. Assets are estimated at approximately 13.1 million euros. 40 employees and 125 creditors are involved. The creditors are offered a quota of 20%, payable within two years.
The sale is in the room
The division must be sold in the short term and therefore continued. According to Romana Weber-Wilfert, insolvency administrator, the sale of the bridge builder was launched this week. Discussions were held with several parties interested in the takeover. These can submit bids until December 7th.
Waagner-Biro was founded in 1854. High-profile projects include the Danube bridges in Vienna, the dome of the Reichstag building in Berlin, the Hangar-7 in Salzburg or the Europabrücke in Tyrol. The company has a fourth subsidiary, the specialized machinery manufacturer Quarter Hall & Co. Ltd. based in England. His future is open.
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