Tadano reorganization plan gets approval

By Alex DahmFebruary 18, 2021

The new 80 tonne capacity Demag AC 80-4 fits between existing models in both the Demag and Tadano ranges of all terrain cranes The new 80 tonne capacity Demag AC 80-4 fits between existing models in both the Demag and Tadano ranges of all terrain cranes

Creditors have approved the reorganization plans for Tadano Demag GmbH and Tadano Faun GmbH which are under protective shield proceedings in Germany.

At a February 18 meeting in Zweibrücken, Germany, to discuss and vote, the creditors agreed unanimously on the Tadano Faun plan with the Tadano Demag plan close behind at 99% voting to approve.

Operational restructuring measures will continue and both companies will exit the protective shield proceedings on schedule, by the end of the first quarter of 2021, Tadano said. “Our customers will have a significantly wider and more comprehensive portfolio of lifting equipment solutions available to them, and this will provide greater flexibility even with large package deals.” Look out for a series of new products being launched on in the next few months, the company said.

Commenting on the news Jens Ennen, Tadano Demag and Tadano Faun CEO, said, “With the creditors’ approval, we now have a clear mandate and the task of continuing to consistently drive forward the company’s reorganisation and implement the operational restructuring measures that have already been partially initiated. We have established the roadmap for the future in these protective shield proceedings, the successful conclusion of the proceedings is imminent and we will continue quickly and efficiently along the path we have chosen. Tadano Demag and Tadano Faun will continue to be strong and reliable partners for our customers in the future and will offer even better and more innovative products and services.”

For more details of what the restructuring will include, see the update here.

MORE ARTICLES FROM CONEXPO-CON/AGG 365 NEWS
Elon Musk’s Loop is unusual fun, improving Las Vegas tradeshows
Here’s one tradeshow veteran’s impression of the latest way to get from Point A to Point B in the event mecca that is the Las Vegas Convention Center
Top 5 earthmovers with highest retained value
Caterpillar small wheel loaders win 2021 Highest Retained Value top honors from EquipmentWatch
Cat introduces three mini excavators to 2.7- to 3.5-tonne class
Models 302.7 CR, 303 CR and 303.5 CR feature exclusive stick steer, cruise control, operator adjustable settings and a tilt-up canopy or cab as standard