Bongard, a German family-owned producer of equipment for the cable industry, wants to buy the production lines of the Romanian power and fiber optic cable producer Romcab, which went into insolvency in 2017, Profit.ro reported. Bongard has submitted an offer for the assets.
Romcab turned to the LXM investment fund to analyze the companys situation and find investors to get involved in financing it. Romcabs insolvency is the largest by the volume of debts owed to creditors, some EUR 223 million.
The company, which is listed on the local stock exchange and controlled by Romanian businessman Zoltan Prosszer, had big expansion plans and convinced several big local and international banks to finance it. At the end of 2018, the company had E…
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