Published on 6 - February - 2009
Wolf-Garten GmbH saved by US firmGarden products manufacturer MTD acquires German tool company for an undisclosed sum.
Wolf-Garten is pleased to confirm that is has found a buyer in the form of US garden manufacturer MTD.
The news was announced late Wednesday afternoon (Feb 4) and a pre-contract has been signed whereby MTD has bought "substantially the entire WOLF-Garten organisation".
Wolf-Garten UK marketing manager Karina Wysom said: "There is a meeting next week between MTD and WOLF-Garten senior management to discuss plans to develop the business in the future but we have been assured that they wish to continue to maintain and develop the Wolf brand in the UK."
She explained that MTD had injected "sufficient funds" to allow Wolf-Garten to get production up and running again in its German factories. As a result, it is hoped that production will begin again Monday, February 9 and supply should be back to normal within a couple of weeks.
Ms Wysom added: "As we still have a supply of stock in the UK, customers should not have been affected by our temporary halt in production."
For now, the tool company says it is "business as usual" and, for the short term at least, there will be no effect on existing employees at the Wolf office in Worcester.
Wolf-Garten GmbH entered administration last month after it experienced severe cash flow problems.
Ms Wysom concluded: "I would like to take this opportunity to thank our customers for their outstanding support and understanding during what has been an extremely difficult time for us all."
DIYWeek.net does not edit comments which are submitted directly by our users to express their own views. Please report abuse of our comment system here.
© Datateam Business Media Limited 2009. DIY Week.net news articles may be copied or forwarded for individual use only. No other reproduction or distribution is permitted without prior written consent.