We had our concerns a few months ago when BASF Forward AM announced a strategic buyout decision. These concerns have been followed by rumors of an insolvency process undertaken by the newly created company in the midst of Formnext. These concerns have now been confirmed by the company that began insolvency proceedings with the District Court of Heidelberg on November 21, 2024.
Forward AM has stated that it is dedicated to fulfilling current and upcoming orders, with the insolvency process aimed at securing new investments. The company hopes these investments will provide a stronger foundation for long-term success.
The District Court of Heidelberg has appointed Tobias Wahl, a partner at Anchor Rechtsanwälte, as the provisional insolvency administrator. Efforts are already in progress to engage with stakeholders and employees to create a sustainable plan for the future.
“We are confident that, together with our partners and investors, we can lay the groundwork for a successful future. Our focus remains on providing innovative solutions to the success of our customers and further strengthening our leading position in the field of 3D printing solutions,” said CEO Martin Back.
The press release continues, “The company remains committed to fulfilling all existing and new orders, ensuring support for its customers and partners. The court promptly appointed attorney Tobias Wahl as the preliminary insolvency administrator, who has already started working. A successful process positions Forward AM to attract new investments and build a stronger foundation for long-term success.”
“Customers’ success remains our focus as our business continues and we are committed to fulfilling all existing and new orders in the best possible way. Important to note that Forward AM’s local entities, have not filed for insolvency and will continue business as usual, focusing on manufacturing and distribution of materials. Preliminary insolvency administrator Tobias Wahl has initiated communication with employees and business partners to assess the situation and develop a plan for the future. Wahl stated, “The conditions for the continuation of the company are in place. Business operations are stable, and we are committed to promptly working toward a long-term restructuring solution.”
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