Maxdata Filed for Insolvency Proceedings

by atticus ~ June 26, 2008

Just a day after posting Everex’s change of ownership, Maxdata, the maker of the Belinea s.book 1, has announced that it’s filing for insolvency. The company blamed their demise on the intense competition and falling prices in the IT industry. The proceedings affect all Maxdata subsidiaries in Germany and abroad, but excludes the sales companies in Switzerland and Netherlands. Here’s Maxdata officially released statement:

Marl, 25 June 2008. The computer manufacturer MAXDATA AG (ISIN: DE0006581309; WKN: 658 130) filed for insolvency proceedings at the Local Court in Essen today due to pending illiquidity. The Management Board has decided on this step because pending illiquidity puts continued business operations at risk. MAXDATA AG further applied to have insolvency proceedings opened for the subsidiaries in Germany and abroad, the sales companies in Switzerland (MAXDATA Computer AG, Baar) and in the Netherlands (MAXDATA Benelux B.V., Etten-Leur) excepted.

The high pressure of the competition and the immense fall in prices in the IT industry have affected MAXDATA for some years. In consequence, the company has suffered a heavy decline in turnover und results. In spite of a restructuring program launched in 2006 the turnaround could neither be achieved in the 2007 business year nor in the first half of 2008.

The Management Board now aims at continuing business with the support of the insolvency administrator, securing as many jobs as possible and retaining the two brands MAXDATA and Belinea.

For further information:

MAXDATA AG, Investor Relations, Elbestraße 16, D-45768 Marl, Germany
Telefon: 0049 (0) 2365 952-2122
Fax: 0049 (0) 2365 952-2125
E-Mail: ir@maxdata.com

More reports at Engadget and The Register.