TSK Troester Group has been announced as the new owner of Schmidlin Ltd Façade Technology, the Swiss curtain-walling specialist which went into receivership at the end of February.

Production at the company's factory in Aesch, Switzerland had actually been stopped for just over 3 weeks, but production is said to be 'flowing out of the factory' once again now that the acquisition has been finalised.

While the UK branch of the company has continued to return a profit for the last 9 years, Schmidlin UK's MD Mike Hollis, sights overspends on large scale projects in Germany, France and the Middle East as the main cause of the parent company's financial problems.

The aggressive pricing of the current economic climate is thought to have become too much to bear.

According to Mike, on-going projects in the UK have been unaffected by the take-over and site operations have continued on current projects during the take-over.

Schmidlin's clients are continuing to offer their full support on British Land's Lime Street, More London on the South Bank, Heathrow T5, Bovis Lend Lease's Aldermanbury Square and Westfield's WhiteCity (being built by Multiplex).

As from 20th March, the company will operate under the name of Schmidlin TSK.

Design and production activities on current contracts have already re-started.

TSK-Troester are a powerful global group comprising approximately 50 companies in the fields of structural systems, raised access floors, airport technologies and exhibition systems - under the name of MERO TSK, as well as direct suppliers to the automobile, rail, aircraft and electrical industries - under the name TSK Troester.

The intention of the new owners is to develop the business activities of the Group so that it can maintain its strong position in the façade industry

Source

Glass Age