German lead battery manufacturer Moll opens talks with investors following insolvency proceedings

German lead battery manufacturer Akkumulatorenfabrik Moll GmbH & Co. KG, known as an innovative, medium-sized traditional company, has entered exploratory discussions with potential investors after COVID-19 pandemic caused a fall in sales that led to the 75-year-old firm opening insolvency proceedings.

The company, which had full order books and worked at full capacity until the corona pandemic broke out, filed for bankruptcy on March 30, 2020. The trial opened on June 1st. MOLL is currently in an orderly restructuring process.

“We have already identified a number of interested parties, and we are also receiving inquiries from abroad at the same time. Investor interest reflects the company’s generally excellent reputation,” says lawyer and insolvency administrator J├╝rgen Wittmann.

Innovation and development projects are being continued – investments in lithium-ion technology. MOLL has invested heavily in the future, says the company, – in new battery technologies and modern production – altogether more than EUR15 million and thus has created more than 150 new jobs.

In this successful, highly advanced transformation process, MOLL’s sudden and massive drop in demand due to Corona hit the unforeseen and hard. Due to the corona pandemic, car manufacturers understandably closed their plants at short notice.

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