Vorwerk Teppichwerke is going to expand its business activity and take over the business operations at Norddeutsche Teppichfabrik, a carpet manufacturer. Following a meeting of the creditors’ committee, Mr Udo Müller, the receiver in insolvency, announced on Tuesday that the purchase agreement submitted by TPH (‘Carpet Production and Trading Company’), a subsidiary of Vorwerk & Co. Teppichwerke GmbH & Co. KG Hameln, had been unanimously approved. Norddeutsche Teppichfabrik had to file for insolvency in August 2013, since then the company has been managed by the receiver. Mr Müller based the decision on the soundness of the offer: “With Vorwerk, a company is taking over business operations that is able to ensure a credible and sustainable continuation in marketing ‘Nordpfeil’ products.”
Regarding the initial situation prior to the takeover, the receiver stated: “If Vorwerk had not bought in now, we would have had to close as of January 31st, 2014.”
Alongside the financial engagement, particularly the good networking displayed by Vorwerk in the retail trade and its marked strength in sales & distribution have reinforced the belief that, together with adapted personnel capacities, an economically feasible continuation could be possible.
Johannes Schulte, CEO and president at Vorwerk Teppichwerke, is glad about the decision and affirms that everything shall be done to press ahead with the seamless delivery to customers as early as 4 February 2014. “I would like to express my distinct respect for the achievements on the part of the staff at Norddeutsche Teppichfabrik.
They have supplied very good products for decades and have an outstanding reputation in the industry. Despite adverse circumstances, it was due to their commitment that production was able to be maintained to this day. In its present form the company was no longer capable of surviving on its own, and faced with the difficult carpet manufacturing market it continues to remain a challenge to move successfully into the future. On the one hand, the only way this can achieve success is through an economically sensible structure in interaction with our site in Hamelin. Yet on the other, above all and only through commitment and motivation on the part of staff. The target set for Vorwerk is to use a clearly cut two-brand strategy and focused reworking to make use of the good potentials exhibited by both brands. The strong wholesale alignment of the Nordpfeil brand is a fitting enhancement for our business.”
The Vorwerk concept envisages using an adapted number of employees and taking advantage of possible potentials for synergy to produce at the site in Geesthacht and in Hamelin. Alongside the Vorwerk brand, the Nordpfeil brand shall continue to be positioned self-reliantly on the market. Approval from the German monopolies & mergers authority has already been attained.
Extensive talks with the men and women on staff are scheduled for the coming weekend in order to line up the future team for Geesthacht which shall ensure the delivery of customer job orders as of February 4th.
ABOUT VORWERK
Vorwerk Carpets is one of the leading international suppliers of high-quality carpets, carpet tiles and elastic flooring. All Vorwerk products for residential living spaces and the commercial, site-oriented sector are produced in Germany. Innovation, quality and ecology form the basis of all activities at Vorwerk, and always with a concerned eye towards people’s well-being. All of the collections are comprised of high-grade models oriented towards diversity, all the way to fascinating luxury collections which can also be custom-made individually on request. Above and beyond these, Vorwerk offers collections and special editions that originate in co-operation with internationally renowned architects, designers and artists. These and other cultural projects form the cultural essence of the brand. Vorwerk Carpets stands for sophistication, creativity and intelligence revolving around the central theme of the floor. And turn Vorwerk Carpets into a supportive element of architecture, as well as a coveted design brand that is much in demand, time and again.
VORWERK & CO. TEPPICHWERKE GMBH & CO. KG
Kuhlmannstrasse 11
31785 Hameln
Germany
Telephone +49 (0) 5151 103-0
Fax +49 (0) 5151 103-377
www.vorwerk-carpet.com
