Green light for Alno deal

The first new Alno kitchens will be delivered in the first quarter of 2018, insolvency administrator Prof Dr Martin Hörmann has confirmed.

The purchase agreement between Alno and financial investor RiverRock has now been completed, with RiverRock acquiring its machinery, land and trademark rights.

The purchase agreement was first signed on December 18, with new managing director Andreas Sandmann announcing on January 2 that it had reached the necessary number of personnel to resume business.

The contract becomes effective immediately and sees staff contracts take effective from January 2, with Sandmann stating that, “now there is the certainty, now we can start”.

The decision to discontinue the business has also been withdrawn, which will see kitchen furniture production now resume.

Hörmann explained: “I am very pleased that we have now reached our goal of giving Alno a future outlook. There is an impressive spirit of optimism. This is reflected in the motivation and commitment of the employees. They are the soul and identity of Alno and they have had a lot to do in the past weeks and months. They deserve high respect and thanks. The creation of a large number of new employment relationships within a very short time was also due to the cooperation and great support of the works council.”

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