Get quick access to your favorite articles Manage alerts on breaking news and favorite drivers Make your voice heard with article commenting KTM has reiterated that it is committed to competing in MotoGP despite pressure from creditors to withdraw to save cash The flagship brand of Pierer Mobility Group underlined that its future in the championship is not under threat after an agency responsible for handling its debts issued comments to the contrary on Friday In a report after a first meeting between KTM and its creditors at the Regional Court of Ried im Innkreis Alpenlandischer Kreditorenverband (AKV) stated that a withdrawal from MotoGP is ‘planned’ to cut costs No timeline was provided about its alleged exit from the series the withdrawal of MotoGP/Moto3/Moto2 is planned," read the note highlighting its unwavering support to MotoGP “Today marks an important day for KTM with the confirmation of our restructuring proceedings This milestone secures our plan moving forward and we are proud to confirm that motorsport remains an integral part of this restructuring plan,” it said “KTM stands firmly committed to motorsport We repeat our statement for 2025: we will continue to race in MotoGP Photo by: Gold and Goose / Motorsport Images “We are re-energised with today’s positive outcome and thank you for your support.” KTM's official position has nothing to do with the conclusions that AKV presented in an extensive memorandum with its main demands "AKV announces that the restructuring administrator has supported the continuation of the procedure as a restructuring procedure with self-management following the first creditors' meeting today [Friday] as this does not currently represent a disadvantage for the creditors in the context of an overall consideration," it said KTM is looking for external funding after accruing debts totalling 2.9 billion euro amid flagging sales of its road-going bikes Its MotoGP team halted the development of the RC16 earlier this month as its parent company continues to reel in from a major financial crisis The restructuring process that began on Friday is expected to help KTM emerge out of its current crisis and stand on a strong financial footing again a basic agreement with potential investors is set to be reached by mid-January and interested parties have already approached KTM and the restructuring administrator The forecast of 500 layoffs planned for the end of the year has been reduced to 300 people employees have been assured that the salaries not paid for November and December will be credited The next hearing between creditors and KTM has been scheduled for 24 January KTM is poised to compete in MotoGP next year with its factory squad and the satellite Tech3 team It also has a strong presence in Moto2 and Moto3 KTM is entered for January’s Dakar Rally in January From Formula 1 to MotoGP we report straight from the paddock because we love our sport In order to keep delivering our expert journalism we want to give you the opportunity to enjoy an ad-free and tracker-free website and to continue using your adblocker Which matters? Oh, those pesky nearly-$3 billion Euros in debt, if you recall in the interest of not leaving you with nothing but a pile of bad news right before the holidays I was determined to polish up one tiny little gem out of the seemingly endless piles of dross we've found ourselves wading through with orange hip boots lately Here's your slightly good news: KTM might not have to lay off as many of its Mattighofen employees as it originally said it would How many employees formerly facing the axe will now get a reprieve the plan was to lay off an additional 500 employees in Mattighofen (which is a small town and one where a huge percentage of the populace is employed by KTM it seems that 200 of those employees will get a reprieve and the OEM will only have to lay off around 300 employees instead remember how KTM wasn't going to be able to pay its employees their December salaries The latest news on this front to come from that court appearance is that employees can expect payment after all I don't know how things work in Mattighofen since I've never lived there. But in most places, all the people you regularly pay your bills to aren't exactly going to care if you tell them your employer is so sorry, but they can't pay you until next month. Their answer will probably be more akin to Paulie Cicero in Goodfellas. If you've seen the movie, you know the scene but this teeny piece of crumpled aluminum foil is all I've got It's still more than KTM apparently has right now Zero Wants You to Lock In Pre-Tariff Electric Dirt Bike Pricing Now KTM's Parent Company Lost Nearly 1.2 Billion Euros Last Year MotoAmerica Revolutionises Rapid Concussion Testing in Sport With New Blood Test KTM’s Factory Racing Tour Is Somehow Still Happening This New Electric Motorcycle Has Four Gears An insolvency administrator has put KTM's shares in MV Agusta up for sale as the Austrian auto giant continues to reel in from a financial crisis KTM's parent company Pierer Mobility AG had acquired a 25.1 per cent stake in MV Agusta in November 2022 before taking over the majority of the company in March of this year its entire 50.1% stake in the Italian motorcycle company is being sold according to an announcement made by a regional court in Ried im Innkreis in Upper Austria on 17 December The administrator is also selling all shares in MV Agusta Services as part of insolvency proceedings against KTM Rumours suggest that former owner Timur Sardarov may be interested in buying back shares in MV Agusta in order to regain control of the company MV Agusta has also suffered from overproduction in recent months with around 2,000 unsold motorcycles believed to be lying in warehouses in Austria Production is set to be scaled back to match the lower demand MV Agusta's declining fortunes have also affected employees in Italy The union and management have already agreed on a solidarity pact What will happen next at its headquarters in Varese is currently unclear Pierer Mobility announced that Citigroup Global Markets Europe has been commissioned to reorganise its ownership structure it said: "Pierer Mobility AG is currently holding talks with potential strategic investors and financial investors talks are also being held with new strategic investors and financial investors "In order to carry out this process in a structured transparent and efficient manner in the interests of all stakeholders Citigroup Global Markets Europe AG was today commissioned to support this investment process "The aim of the investment process is for investors to subscribe to a necessary cash capital increase or financial instruments of Pierer Mobility AG These cash resources are to be used to strengthen the Pierer Mobility Group According to a report by the Oberosterreichische Nachrichten which was also confirmed by the Austria Press Agency the Financial Market Authority (FMA) in Austria has launched an investigation into its workings A probe is underway into whether the listed parent company Pierer Mobility has complied with disclosure regulations This concerns the period from May to November in which the forecasts of the business were adjusted and a change in the management board was announced Listed companies must publish insider information immediately so that it is available to all market participants at the same time Penalties can be imposed in case of non-compliance The FMA has asked Pierer Mobility for a statement on this matter On Thursday there was also a meeting between KTM's bodies GPA) and the Upper Austrian Chamber of Labor up to 50 more people are expected to lose their jobs by the end of the year This would mean that around 800 people had been laid off from the time the insolvency proceedings were announced The Upper Austrian Chamber of Labor also mentioned a further "loss of trust" in KTM after December wages were not paid before Christmas as promised "Due to the constantly changing economic situation and the uncertain framework conditions trade unions and works council agreed to no longer rely on announcements but to act only on the basis of facts," it said the first creditors' meeting will take place on Friday at the regional court in Ried im Innkreis Insolvency administrator Peter Vogl will then present a first report The court will decide whether KTM AG and its two subsidiaries which have also been declared self-liquidated The number of creditor claims had recently continued to rise with more than 20 investors showing interest - this much had already been leaked before the audit meetings for the three KTM companies all the preliminary figures were on the table: the mountain of debt is almost 2.4 billion euros high KTM Components GmbH and KTM Forschungs & Entwicklungs GmbH will vote on the restructuring plan of the motorcycle manufacturer that has slipped into insolvency all the facts must be on the table as to how the company from Mattighofen (Upper Austria) can be rescued and what its future might look like At the audit meetings on Friday in Ried im Innkreis the restructuring administrators Peter Vogl (KTM AG) Robert Tremel (KTM Components GmbH) and Franz Mitterbauer (KTM Forschungs & Entwicklungs GmbH) reported on whether the financial plan had been adhered to and also on details of the planned restructuring "The search for investors is strictly confidential," emphasized Vogl The efforts and endeavors of the last few weeks We were able to convince both equity and debt investors that this company is not only capable of restructuring neuer Vorstandschef der Pierer Mobility AG und der KTM AG "Three reasons why KTM is still alive"As at the first court hearing Gottfried Neumeister was also present at the regional court on Friday as a representative of the Executive Board he seemed relieved and grateful: "There are only three reasons why KTM is still alive: the tireless efforts of our employees the loyalty of our customers and because we have an intrepid and highly professional insolvency administrator in Mr Many questions have arisen among the creditors there was initial clarity about the status of the debts The claims of all three companies amount to a total of 2.387 billion euros of which 1.684 billion euros have been recognized so far creditors have registered claims of around 2.2 billion euros around 1.6 billion euros of these have been recognized "Many international creditors"The creditor protection associations expect that the claims will continue to rise until the restructuring plan meeting on February 25 There will certainly be some late registrations," says Petra Wögerbauer from Kreditschutzverband von 1870 in Linz but also provided clear proof that KTM can build the best motorcycles in the world Production to be ramped up again on March 17thEven before the test day meetings it has been clear in recent days that the situation at KTM has stabilized January salaries and wages have been secured and liquidity should be ensured by the end of February The first steps have also been taken to resume production which will start up again on March 17: talks have begun with suppliers to determine what capacities are needed "Sacrifices made by the workforce were severe"Following the reduction of around 520 employees since the opening of insolvency proceedings no further job cuts are planned as part of the restructuring process "The redundancies and the sacrifices made by the workforce were serious enough anyway with short-time working salary sacrifices and redundancies," says Vogl KTM AG currently has around 2,000 employees with 4,400 employees in the group as a whole there should still be a total of 6000 employees This article has been automatically translated,read the original article here Willkommen in unserer Community! Eingehende Beiträge werden geprüft und anschließend veröffentlicht. Bitte achten Sie auf Einhaltung unserer Netiquette und AGB. Für ausführliche Diskussionen steht Ihnen ebenso das krone.at-Forum zur Verfügung. Hier können Sie das Community-Team via unserer Melde- und Abhilfestelle kontaktieren In Kürze bekommen Sie eine Bestätigungs-Mail von uns The creditors at the Regional Court Ried im Innkreis will vote for KTM’s future today February 25 is going to be a very important day for KTM as its fate as an automotive brand will be decided today Creditors will take a call on the restructuring plan for KTM which is facing severe debt and is on the verge of bankruptcy According to reports KTM has received over 20 offers to resurrect the brand but there are three motorcycle manufacturers which are in the fray - Bajaj Auto Recent reports have claimed that Bajaj Auto has already allocated ₹1,360 crore through its subsidiary Bajaj Auto International Holdings BV (BAIHBV) based in the Netherlands the Indian brand already holds a 49.9% reported stake in Pierer Bajaj AG (PBAG) in Austria which controls nearly 75 percent of Pierer Mobility AG If Bajaj Auto is able to pump in the additional funds it should help it get the controlling stake in KTM but whether this is possible or not is something we shall find out this evening Bajaj and KTM share a cordial relationship as the Indian manufacturer had picked up 14.5 per cent stake in KTM in 2007 and later Bajaj Auto started manufacturing KTM motorcycles in India The other brand with which KTM has a joint venture is Chinese manufacturer - CF Moto Both the bikemakers entered into a partnership in 2017 and CF Moto started manufacturing KTM bikes in China which were exported to other Asian countries too The technology transfer between the two companies led to the creation of the CFMOTO 800MT and the CFMOTO 1250TR-G For the Chinese brand acquiring KTM will be a big boost as it’s working hard on expanding its premium motorcycle line-up and KTM already has a well established range of motorcycles The darkhorse in this race is BMW Motorrad BMW wants to purchase KTM and ensure that it continues in the market it’s also rumoured that the German brand wants to move R&D to Bavaria as it will help in reducing cost while utilising the KTM tech to further advance and improve its range of motorcycles The report also suggested that BMW would dilute KTM Austria and in this process lay off all the KTM employees and plans to move production to India it will be interesting to see whether Bajaj Auto will continue to be the manufacturing partner of Team Orange or it will be shifted to TVS Motor As you can see the KTM saga has more twists and turns than a Bollywood masala flick all we want is for KTM to say ‘Picture abhi baaki hai’.  MG Windsor EV Pro India Launch Tomorrow: What To Expect Ashish Gupta to Lead Škoda India; Nitin Kohli Appointed Volkswagen Brand Director Kawasaki Bikes Available With Discounts Up To ₹45,000 Jeep Wrangler Willys ‘41 Special Edition Launched At ₹73.24 Lakh; Limited To 30 Units We promise the best car deals and earliest delivery Selling off shares should be in PMG's best interest, and it would be in practically any brand with $3 billion in debt. There are rumors that the former owner of MV Agusta, Timur Sardarov, might be interested in buying back his shares and regaining control of MV. But amidst all this, things look to be going from bad to worse for KTM.  According to a report by the Oberosterreichische Nachrichten, the Financial Market Authority (FMA) in Austria has launched an investigation into KTM's operations. Specifically, the probe intends to determine whether PMG complied with disclosure regulations. Public companies, like PMG, must publish insider information immediately so that it is available to all market participants simultaneously. So why would this be a problem? Based on a report by the Austrian Press Agency, between May and November, PMG adjusted its forecasts of the business and underwent management restructuring. The number of KTM's board members also dropped from six to two earlier this year. As of now, it's unclear whether there's been any criminal act. We want to know your thoughts on the horror story that is KTM's financial circumstances. Do you think the company was operating in the shadiest of gray areas, or do you think it veered into illegal activities? KTM Enters a Power Struggle, Board Member Wants Their Money Back Looking For Free Motorcycle Training In Virginia? The DMV Has You Covered Want to Learn to Ride In New York State? Now You Can Again This New Electric Motorcycle Has Four Gears, Because Why The Heck Not? Is This Italian Motorcycle Maker Full Of It? That's What This Lawsuit Claims Please enable JS and disable any ad blocker View this post on Instagram A post shared by Soccer Laduma (@soccer_laduma) Local International Off The Pitch Podcasts & Videos Former Stellenbosch FC winger Antonio van Wyk has shared his experiences of adapting to life in Austria since his move in September.Check it out Read: Mofokeng Receives Special Prayer From Famous Preacher Antonio van Wyk seems to be settling in well at his new club who currently find themselves second in the Austrian second tier standings The 22-year-old has featured in five league games since making the switch from the Cape Winelands to the snowy upper Austrian region of Ried im Innkreis Speaking to his club's media team prior to their 1-0 win over fellow promotion hopefuls van Wyk detailed how he's finding life in Austria and at SV Ried And the club is also really very professional," shared the ex-Stellies star who also admitted to be struggling with the Austrian conditions "The only thing I still have to get used to is the weather In South Africa we never have less than 14 degrees "I could hardly feel my feet during the match But we also train in this weather and I am coping better and better with it," said van Wyk With the under-23 South African international hitting the ground running by earning some game time early on he's eager to build on his two assists so far with some goals "Football here in Austria is a little different to that in South Africa I would say technique and physical effort are equally important.  I myself am gaining more confidence from game to game and now I want to convert that into goals," concluded van Wyk A post shared by Antonio Van Wyk (@antovanwyk10) Read: Chiefs Star Turns Heads At Rich Mnisi's Party Authors urge four of nine federal provinces to make changes but local leaders accuse them of trying to ‘cancel history’ Austria is in the thick of a debate about the origins of the “homeland” anthems that celebrate its federal states after the Nazi allegiances of their composers were brought to light by a group of prominent authors The authors are calling on regional politicians to rewrite some of the anthems and to acknowledge the melodies’ Nazi-era roots the anthems of four out of the countries’ nine Länder It has written to the leaders of Upper Austria In some cases it says that whole verses should be erased or that single lines identified as problematic should be dropped and that historical research is carried out on their origins and musical composers have been accused of “cancelling history” by two local leaders in Carinthia from the Social Democrats and the far-right populist FPÖ who are refusing to give in to their demands “In all these cases this is not about cancelling history,” IG Autorinnen Autoren said “It’s about dissociating ourselves from antisemitism nationalism and national socialism … ensuring historical political falsehoods are discontinued and ensuring Nazi troops march through Vienna, Austria, in 1938, the year in which the country was annexed to Germany. Photograph: Hulton Deutsch/Corbis/Getty ImagesThe anthem considered most flawed is that of Carinthia the text of which was written by Agnes Millonig which contains the line: “Where we scribed our borders with blood.” The final line: “That is my beautiful homeland,” is a reference to Germany The authors have called for the line to be scrapped According to historical researchers, the composer of Salzburg’s national anthem joining the party when it was still illegal to do so who composed music inspired by and in the name of the party Upper Austria’s so-called Hoamatgsang or Heimat (homeland) song who was well-known for his antisemitic views writing in an essay calling for the genocide of Jews that he wished to “knock off the head of the Jewish tapeworm” The authors have said the necessity to acknowledge Upper Austria anthem’s origins and the antisemitic diatribe of its author was all the more important because it was the state in which the Nazi leader Adolf Hitler was born Lower Austria’s anthem was written by the Nazi party member Franz Karl Ginzkey the state government has called for a historical study to be carried out on the song but has insisted no changes need to be made to the text The authors criticised the style of the lyrics for encouraging a “subservient mentality” and for being “kitschy-pathetic pomposity” The authors have signalled their readiness to collaborate with any rewriting By 2021-11-08T11:46:00+00:00 AUSTRIA: An €18·2bn investment framework for Austrian Federal Railways covering 2022-27 was approved by the council of ministers on November 3 Taking climate change mitigation targets into account it is a modification of an earlier plan covering 2021-26 which envisaged a slightly lower spend of €17·5bn The investment plan ‘is an important building block for more climate protection’ explained Climate Protection Minister Leonore Gewessler ‘This plan will make rail travel in Austria even better and more efficient’ ‘Investment in the main lines will bring faster connections between the large metropolitan areas but we are also going to invest in regional routes to make local railway transportation more attractive and electrified This makes switching to the train more attractive in rural areas as well a gain for the passengers and for the environment.’ Approval of the spending package recognises the need to boost rail capacity following the formal launch of the national KlimaTcket on October 26 This provides a year of unlimited travel on all scheduled public transport services in Austria for €1 095 although night trains require a supplement and tourist-oriented services are excluded Regional versions of the KlimaTicket are also being rolled out ‘A modern network and a cheap KlimaTicket make public transport more attractive than ever before’ ‘Every kilometre by train protects our climate.’ UK: Rail Business UK understands that the government has no plans to introduce a subscription-based ticket offering unlimited rail travel as has been proposed in a report produced for Greenpeace by the Greengauge 21 think tank PORTUGAL: A €49 one-month national rail pass has been launched by operator CP with government funding The initiative was proposed in parliament in 2022 The ticket is available to residents and non-residents HUNGARY: Integrated monthly bus and rail passes for travel within one of the 19 vármegyék (counties) or nationally are to be introduced from May 1 state railway group MÁV announced on February 18 The monthly passes will be for valid on all national and regional bus .. Site powered by Webvision Cloud Looking to access paid articles across multiple policy topics Interested in policy insights for EU professional organisations Austria’s far-right Freedom Party (FPÖ) on Tuesday (11 June) called for the government to name an EU “remigration” commissioner after winning the EU elections in the Alpine nation News Service Produced externally by an organization we trust to adhere to journalistic standards leader of the right-wing Austrian Freedom Party (FPOe) arrives for the party's traditional political Ash Wednesday meeting in Ried im Innkreis Weitere Infos Der Alpenländische Kreditorenverband (AKV) teilt mit: Sanierungsplan der KTM AG von den Gläubigern angenommen Bei einer errechneten Zerschlagungsquote von 14,9% hat der Sanierungsverwalter den Sanierungsplan als wirtschaftlich angemessen betrachtet nachdem im Ergebnis auch kein realistisches Alternativszenario zum Sanierungsplanangebot besteht welche bis zum 23.05.2025 beim Sanierungsverwalter zu erlegen ist Die Bestätigung wird jedoch auch davon abhängig sein dass die voraussichtlich bis zum 23.05.2025 entstehenden Fortführungskosten in der Höhe von circa EUR 150 Mio ist bereits gestern auf einem Treuhandkonto des Sanierungsverwalters eingelangt dass die Produktion Mitte März 2025 wieder aufgenommen wird Der Name des finanzierenden Investors ist weiterhin unbekannt Bekanntlich wurden am 29.11.2024 über die Vermögen der KTM AG und deren beiden Tochtergesellschaften KTM Forschungs & Entwicklungs GmbH und KTM Components GmbH jeweils Sanierungsverfahren mit Eigenverwaltung eröffnet Heute fand am Landesgericht Ried im Innkreis bereits die Tagsatzung zur Abstimmung über den Sanierungsplan der KTM AG statt Die Abstimmungstagsatzung im Verfahren der KTM Components GmbH wird heute um 13:30 Uhr und jene der KTM Forschungs & Entwicklungs GmbH um 15:30 Uhr stattfinden Zu diesen Verfahren erfolgen noch gesonderte Mitteilungen dass noch vor der Sanierungsplantagsatzung das Anbot auf eine 30%ige Barquote (Kassaquote) verbessert wurde und das Anbot lautete wie folgt: Die Insolvenzgläubiger erhalten zur vollständigen Befriedigung ihrer Forderungen ob es offene Buch- oder Wechselforderungen sind zahlbar binnen 14 Tagen nach rechtskräftiger Bestätigung des Sanierungsplans dass bis längstens 23.05.2025 der Erlag des Erfordernisses für die 30%ige Barquote und die Verfahrenskosten beim Sanierungsverwalter erfolgt dass eine gerichtliche Bestätigung des Sanierungsplanes erst nach dem Erlag der 30%igen Barquote und nach Sicherstellung der Masseforderungen (Fortführungskosten bis 23.05.2025) erfolgen wird Gesamt liegen 3.847 Forderungsanmeldungen vor 2.600 Forderungsanmeldungen davon entfallen auf Dienstnehmer Die angemeldete Forderungssumme beläuft sich auf circa EUR 2,25 Mrd. dies einschließlich bedingt angemeldeter Forderungen Gesamt liegen 1.321 Forderungsanmeldungen vor 903 Forderungsanmeldungen davon entfallen auf Dienstnehmer Die angemeldete Forderungssumme beläuft sich auf circa EUR 116,63 Mio. Gesamt liegen 824 Forderungsanmeldungen vor 544 Forderungsanmeldungen davon entfallen auf Dienstnehmer Die angemeldete Forderungssumme beläuft sich auf circa EUR 89,27 Mio. Offenbar unter Ausklammerung einzelner bedingter Forderungen sowie einzelner IC-Forderungen wird das Erfordernis für die 30%igen Sanierungspläne in den Verfahren der KTM AG KTM Forschungs & Entwicklungs GmbH und KTM Components circa EUR 600 Mio Die Sanierungspläne werden zudem nur bestätigt werden wenn diese als erfüllbar zu betrachten sind Es werden daher auch die bis 23.05.2025 anfallenden Fortführungskosten zu hinterlegen sein Diesbezüglich geht man von einem Liquiditätsbedarf von circa EUR 150 Mio Es werden daher bis spätestens 23.05.2025 circa EUR 750 Mio beim Sanierungsverwalter zu hinterlegen bzw Die Erfüllung dieses hohen Sanierungsplanerfordernisses von circa EUR 750 Mio bedingt jedenfalls erhebliche Mittelzuführungen eines Investors Der Sanierungsverwalter hat die Sanierungspläne als wirtschaftlich angemessen betrachtet zumal sich eine Zerschlagungsquote von 14,9% vor möglichen Schadenersatz- und Anfechtungsansprüchen sowie möglichen Ansprüchen aus Einlagenrückgewähr errechnet Die Durchsetzungs- und Einbringlichkeitswahrscheinlichkeit solcher Ansprüche beurteilt der Sanierungsverwalter derart dass diese zu keinem Ergebnis führen würden welches günstiger wäre als die angebotene 30%ige Sanierungsplanquote Auch nach seiner Einschätzung besteht daher im Ergebnis kein realistisches Alternativszenario zum Sanierungsplanangebot Die Kapital- und Kopfmehrheit stimmten im Verfahren der KTM AG dem Sanierungsplanangebot zu Die Abstimmungen in den Verfahren KTM Forschungs & Entwicklungs GmbH und der KTM Components GmbH bleiben im Laufe des Tages abzuwarten Bei Veröffentlichung wird um Quellenangabe gebeten bevor Sie unsere Website weiter besuchen können Wir verwenden Cookies und andere Technologien auf unserer Website diese Website und Ihre Erfahrung zu verbessern Einige Services verarbeiten Daten in den USA Mit Ihrer Einwilligung zur Nutzung dieser Services stimmen Sie auch der Verarbeitung Ihrer Daten in den USA gemäß Art Das EuGH stuft die USA als Land mit unzureichendem Datenschutz nach EU-Standards ein Essenzielle Cookies ermöglichen grundlegende Funktionen und sind für die einwandfreie Funktion der Website erforderlich Marketing-Cookies werden von Drittanbietern oder Publishern verwendet indem sie Besucher über Websites hinweg verfolgen Pierer Mobility AG has announced that Stefan Pierer has stepped down as the CEO of Austrian two-wheel manufacturer KTM Gottfried Neumeister will take over the reins of the company as part of the management reshuffle but Pierer will remain on board as the Co-CEO The news was made public just ahead of an important court hearing for KTM AG and its two subsidiaries at the regional court in Ried im Innkreis in Upper Austria on 24 January The registered claims of the creditors will be examined on that date with it believed that 5,400 people or companies are owed money for outstanding payment for sewage and waste disposal These creditors are said to have put pressure on Pierer to step down from his role KTM issued two press releases ahead of the court hearing as it revealed its financial results for 2024 and announced a major change in management It stated: "Stefan Pierer will hand over the role of CEO of PIERER Mobility AG and KTM AG to Gottfried Neumeister and will continue to support him as Co-CEO during the restructuring process." Neumeister joined the Executive Board of Pierer Mobility AG and KTM AG on 1 September 2024 He founded the airline flyNiki with late Formula 1 legend Niki Lauda in 2003 and was the company's managing director until its sale to Air Berlin at the end of 2011 which is primarily known for its restaurants and catering business.  Neumeister had to publish some grim financial results for the preceding year Group turnover fell by 29 per cent in 2024 compared to the previous year and the company expects a negative operating income (before depreciation and amortization) of 300 million euro The company also stated: “The 2024 financial year was characterized by far-reaching restructuring measures a total of more than 1,800 employees have been cut across the Group production output was deliberately curtailed to reduce the number of motorcycles held by dealers and importers “By reducing the production volume to around 230,000 motorcycles (-26% compared to 2023) global inventories were relieved by around 40,000 units (-18%) This represents an important first step in the restructuring plan Distributors and dealers sold around 268,000 motorcycles to retail customers It remains to be seen how KTM’s financial issues will impact its motorsport programmes The Austrian automotive giant recently won the Dakar Rally in the bikes category with Daniel Sanders and is due to unveil its new MotoGP bike on 30 January “Recent racing successes have confirmed this confidence,” it said “With three consecutive victories in the Enduro World Championship two Supercross season openers and the first Dakar Rally win across all major motorcycle categories the 2025 motorsport season has got off to a successful start.” New investors are crucial for KTM’s continued existence The court hearing on Friday is therefore an important step in the insolvency proceedings as clear plans must be presented as to how the company will have enough funds to continue as a going concern in the future Pierer Mobility AG announced that it had commissioned Citigroup Global Markets AG to find new investors Although no specific names were mentioned that will be presented to the court on Friday it is stated that there are ‘several’ offers from investors “The funds will either be made available to PIERER Mobility AG for onward transfer to subsidiaries or will flow directly to KTM AG or its subsidiaries,” it said financing at the level of PIERER Mobility AG supplemented by debt instruments at the level of KTM AG or its subsidiaries is also a possibility  “With the financial resources offered the quota from the restructuring plans of KTM AG and its insolvent subsidiaries can be financed at least to the statutory extent of 30 per cent.” insolvency administrator Peter Vogl will report on the status of the proceedings at the regional court in Ried im Innkreis Concrete investment plans must now be put on the table The final decision on the restructuring proceedings will be made on 25 February when the creditors will vote on the restructuring quota KTM is aiming for a restructuring quota of 30 per cent has avoided insolvency after undergoing restructuring creditors voted on the European restructuring plan (ReO) of Pierer Industrie AG at the regional court of Wels This was the first time that this procedure was applied in Austria under the restructuring directive this process allows companies at risk of insolvency but not yet insolvent to undergo a court-supervised restructuring procedure giving them the opportunity to recover financially before having to declare bankruptcy Pierer Industrie AG pursued this restructuring process to fully repay financing obligations amounting to €247.5 million The aim was to extend the repayment period over two years instead of settling the debts immediately The process mainly concerned the extension of maturing bonds and promissory notes The hearing on Thursday afternoon lasted about an hour and the proposal submitted by the company on 27 December 2024 was accepted This marks the completion of its restructuring process the debts will not have to be repaid at the originally agreed dates but instead by the new deadlines of 31 December 2026 and 31 December 2027 Pierer Industrie AG holds a 50.1% stake in Pierer Bajaj AG which in turn owns 74.94% of KTM’s parent company Pierer Industrie AG holds an 80% stake in automotive supplier Pankl AG the regional court of Ried im Innkreis will vote on the restructuring plan for KTM AG and two of its subsidiaries Creditors will then decide whether to approve the proposed plan KTM has accumulated debts exceeding €2 billion from 1,170 registered creditors there are around 2,500 claims from employees The minimum legal offer to creditors stands at a 30% repayment rate KTM improved the offer with a cash payment meaning that the proposed 30% will not be paid over two years This money is expected to be provided by the owners and deposited with the insolvency administrator by mid-April The amount is estimated to be around €600 million US hedge fund Whitebox advocated for a higher repayment rate efforts are under way in Mattighofen to resume production by mid-March KTM has stated that it is working on securing the necessary liquidity with the required €150 million reportedly already committed by the owners The prerequisite for this is the creditors' vote scheduled for next Tuesday bankruptcy and the break-up of the company could be imminent it is unlikely that any funds will be available to restart production KTM’s creditors have approved the company’s restructuring plan following a vote at the regional court in Ried im Innkreis in Upper Austria on Tuesday Claims totalling 2.25 billion euros were presented at the court out of which debt worth two billion euros was recognised KTM’s restructuring plan provided for a cash quote of 30% around 150 million euros are needed to gradually ramp up production at its main plant in Mattighofen from mid-March This would ensure the company's operations The hearing began at 0900 and was initially scheduled to last three hours as there were 3847 claims filed by creditors The jury room in the regional court was full with around 100 people being present KTM CEO Gottfried Neumeister and co-CEO Stefan Pierer were among those in attendance KTM AG owes around 180 banks a sum of 1.3 billion euros The banks had previously called for a higher cash ratio and therefore it was unclear whether the restructuring plan would be accepted it was confirmed that the creditors had approved the restructuring plan “This plan provides for creditors to receive a cash quota of 30% of their claims in the form of a one-off payment (cash quota),” read a statement from Pierer Mobility AG KTM AG must deposit an amount of EUR 548 million with the restructuring administrator by 23 May 2025 at the latest “The court will then confirm the restructuring plan at the beginning of June 2025 and the restructuring proceedings of KTM AG will end once it becomes legally binding.” It was also confirmed that the financial settlement means plans for increased production in mid-March are guaranteed A sum of 50 million euros will be made available from the expanded group of shareholders to covers costs for the month of March "The planned full capacity of the four production lines in single-shift operation is to be achieved within three months," is the further plan of Pierer Mobility AG two creditors' votes will be held at the Ried im Innkreis Regional Court regarding the subsidiaries KTM Components GmbH and KTM Forschungs- & Entwicklungs GmbH It is expected that their restructuring plan will also be approved According to the Alpine Creditors Association (AKV) the judicial confirmation of the restructuring proceedings is dependent on the continuation costs of 150 million euros incurred by 23 May 2025 being deposited namely the 50 million euros for the month of March was already deposited in a trust account of the restructuring administrator on Monday A total of around 750 million euros (600 for the cash quota and 150 for the continuation) must be deposited by 23 May the name of the financing investor remains unknown had injected 50 million euros into the company in the form of a loan Pierer Mobility AG also stated in another press release that fresh capital of 800 million euros is required This is needed to finance the cash quota and to further production Citigroup Global Markets Europe AG has been commissioned to support the investment so that the process is structured and transparent When it received Frost & Sullivan’s Global Market Share Leadership Award in 2012 Austria) already had a 30-year  history in composites and  had become a Tier 1 supplier to Airbus Yet it remains relatively unknown in the composites industry.  This hardly seems possible for a company that holds contracts for parts on every major commercial airframe now in production FACC employs more than 3,000 people (more than 700 are engineers) and maintains four fabrication facilities But it also has forged joint ventures in Russia and has customer support/engineering operations in China The company has focused on three product portfolios: Interiors Considering innovation one of its core capabilities — e.g. the now-standard door hinge with integrated damper for interior stowbins and the industry’s first composite wingbox components produced in a one-shot out-of-autoclave (OOA) process — FACC is poised to expand into primary structures and recently guided HPC through several of its Austrian facilities offering the following glimpse into its global operation (Take a walk through FACC history by clicking on “FACC timeline: Engineer-centric evolution,” under "Editor's Picks," at top right.)  HPC was accompanied by CEO Walter Stephan and aerostructures product development director Hermann Filsegger Asked to account for FACC’s obvious success they were quick to point out the company’s focus on finding ways to cut weight simplify installation and reduce costs.  A case in point involves spoilers for the Airbus A330/A340 previously assembled from several precured carbon fiber-reinforced polymer (CFRP) parts bonded to an aluminum main fitting the difference in coefficient of thermal expansion (CTE) between the CFRP and aluminum was an issue the original design by using RTM [resin transfer molding] and CFRP,” said Filsegger “We had no more CTE issues nor need to purchase expensive forged metal fittings.” Since then FACC has developed the design further for the A350 XWB (see Fig “The RTM fitting has flown on the A330 for years without any problem.”  which suggested FACC involvement in the Irkut (Moscow Russia) MS-21 wingbox program (for more on this program click on “Resin-infused MS-21 Wings and wongbox,” under "Editor's Picks") “The customers knew they wanted to proceed with an OOA composite concept for the wing but were looking for a partner with expertise in the technology,” Filsegger recalled contending that FACC’s tooling concept was “smarter” than its competitors’ both for the infusion process and final assembly (FACC’s infusion process — a proprietary and patented system — is described in the sidebar “FACC: Aerospace infusion pioneer.” See it at the end of this article or click on its title under "Editor's Picks.") Why “Because we calculated the thermal expansion and laminate warpages so that the resulting parts are true to dimension,” he explained we could manage the remaining springback in final assembly.” on a 1-inch/25.4-mm thick spar at the root would make it impossible to bend the part into its necessary shape “And even if you did,” said Filsegger “you would introduce an uncontrolled preload on the fasteners Our tools could handle springback effects easily allowing the skin to fit perfectly to the ribs and spars And it was right the first time.” According to Filsegger and Stephan this was possible because FACC had considered all of the risks during infusion and final assembly from the start it was a standard technical risk assessment but it is key to developing innovations so that you can deliver what is promised.” When asked if FACC foresees building OOA wings in the future Stephan explained that OEMs will likely retain (and in Boeing’s case reclaim) control of the wing So what future primary structure is the target “We have developed our expertise so that OOA vertical or horizontal stabilizers will be readily achievable.”  which houses FACC’s corporate headquarters as well as production of aerostructures and some engine and nacelle components Tour highlights in the 21,000m2/226,000-ft2 facility included winglet spoiler and engine bypass duct operations.  A global leader in the development and production of winglets FACC delivered its first set of Aviation Partners Boeing’s (APB Wash.) trademarked Blended Winglets for the Boeing 737 Next Generation (i.e. It then worked with APB to retrofit them to Boeing 757 aircraft FACC delivered the 3,000th shipset of Blended Winglets and was named single-source supplier for the product lifetime.  It collaborated again on APB’s next design manufacturing development and production tool design and fabrication The name describes use of both a split winglet design and high-performance scimitar-shaped tips cut aircraft fuel consumption by about 2 percent FACC prototyped the winglets in only three months.  FACC worked with Airbus to develop new winglets for the A350 XWB which measure 2.3m/7.5-ft wide at the base and 2m/7-ft high series production and assembly of the individual components into a ready-to-install system for delivery to the Airbus final assembly line (FAL) in Toulouse This program was the first in which tests on full-scale parts of this size — wingtips with attached winglets are 6m/20-ft long — were carried out at FACC’s Composite Lab and Test Center (see Fig The complete winglet system was subjected to static and dynamic testing for resilience and was in the final stages of completion during HPC’s tour myriad automated cutting machines raced through meters of carbon fabric and prepreg in several large glass-encased kitting rooms Behind these were massive cleanrooms where skins stiffeners and other structures are hand-layed onto arrays of production tools These tools are loaded into various autoclaves and ovens in the facility after which parts are transferred to dedicated assembly areas Walking through the area for Split Scimitar Winglet assembly 8 to 10 fixtures supported winglets in various stages of completion The structure featured CFRP skins with bolted stringers and numerous brackets for lights and glazing to be attached later (see Fig FACC also paints the winglets with each airline’s livery in an adjoining paintshop complete with multiple spray booths and a large open area reserved for final detailing Moving on through one of the spoiler fabrication areas racks of completed spoilers shared space with parts in progress on mobile fixtures Filsegger pointed out the RTM fitting for the A350 XWB spoiler — a massive and with no detectable voids or distortion.  An adjoining area featured large CNC-machining bays as well as automated nondestructive testing (NDT) cells including two new machines supplied by local machinery company Fill (Gurten 3-D linear ultrasound system capable of through-transmission and pulse echo interrogation Designed for high throughput (linear speed up to 1.7 m/s) and high accuracy (±0.2 mm) numerically controlled modules move the inspection heads along a 3-D path generated via interface with standard CAD systems The second system uses a 7-axis robotic arm to perform pulse-echo ultrasound testing with the same basic speed and accuracy of 3-D inspection As FACC series production ramps up for a program Filsegger explained that every part is inspected until statistical quality performance is established over a specified number of parts defined periodic sampling is considered sufficient HPC passed through one of the larger open areas within the building populated by a number of barrel-shaped structures with various-shaped cutouts sound-absorbing composite outer bypass ducts which channel the outer (bypass) airflow around the hot core in turbofan engines FACC worked with Pratt & Whitney to develop the latter’s first composite bypass duct in 2002 and has produced more than 1,000 similar parts for Rolls Royce’s (London The Pratt & Whitney structure uses a sandwich construction with carbon fiber/epoxy skins that feature a 2x2 twill prepreg and aluminum honeycomb core FACC also developed a sound attenuation treatment for the duct’s inner skin FACC delivered several variations of a new design for the PurePower PW800 engine aimed at long-range business jets regional jets and single-aisle jetliners and looks forward to beginning serial production soon.  The tour’s next leg took HPC to Plants 2 and 3 “There are only three companies who can design develop and supply a complete aircraft interior,” Stephan pointed out Boeing Interiors Responsibility Center [North Charleston We make and supply all of the components needed from cargo to cabin.” FACC now owns a 20-plus percent share of the commercial aircraft cabin market Filsegger credited that to FACC’s innovative approach to interiors sidewalls and ceiling panels inside the finished cabin had to be precisely level.” However he described the plane’s aluminum fuselage sections as “flexible tubes” to which composite interiors were attached using myriad adjustable brackets interior unit alignment required painstaking adjustment of hundreds of hard-to-reach threaded tie rods “We developed a laser-aligned installation which located a highly effective new type of attachment independent of the incongruities in the fuselage barrels which was very fast and efficient.”  FACC also pioneered the now-standard hinge used on practically every fixed-shelf stowage bin (overhead compartment) door “It used to be that this hinge had an air- or spring-loaded actuator that extended back into the bin but made the corners unusable space,” Filsegger recalled more reliable hinge incorporates the actuator into the hingeline Plant 2’s landscape revealed rack after rack of completed bins and numerous fabrication and assembly areas each devoted to a different aircraft’s components The stowbins are all made from flat honeycomb-cored panel stock and curved cored doors with attachment points prepotted to accommodate hardware oddly shaped composite duct modules — most made from lightweight glass fabric and phenolic resin — are also prefabricated and then attached during assembly (see Fig finished bins are strapped into specialized containers and shipped to Diehl for rigging of electrical and other systems FACC continues to increase unitization of the parts it ships One example is a composite “plug and play” module for the A350 XWB smoke detection panel designed In cooperation with Siemens Process Industries and Drives (Buc Cedex which reduces part mass and makes it easier and more economical to install than conventional panels Although the materials and processes used in stowbins have been standard for decades Stephan says FACC always looks for new options “crushed core is hard to beat because it is very robust … and it’s easy to push out part after part with consistent quality and not a lot of quality control intervention It is also cheap.” When asked if thermoplastic composites hold promise “The problem is that in order to get the fire you are forced into materials that are 10 times the cost of current phenolic and honeycomb.” Nor does he think thermoplastic composites could increase throughput.  “We are already press-forming the phenolic parts with a cycle time as low as 30 minutes for large baggage bin doors,” he says “There is also a limit to the weight savings you can achieve on a sidewall because noise transmission is governed by mass.”  Plant 2 also incorporates a very large core machining area with two new CNC milling machines used only for honeycomb supplied by Reichenbacher Hamuel (Dörfles-Esbach Germany) with clamping systems by Inteccs (Dortmund Filsegger explained that it is more economical for FACC to mill honeycomb in-house and as we passed a vast landscape of machined core “All of this is only for today’s production.” fairings and flight control surfaces are manufactured efficiencies from automated tape laying (ATL) and hot drape forming are exploited The latter applies heat and pressure to flat ATL preforms using a core and flexible forming pad to produce three-dimensional shapes (see Fig One example is ongoing A321 flap production which uses a cutting-edge automated workcell custom-engineered by Fill FACC manufactures a wide array of engine and nacelle components Filsegger highlighted FACC’s large composite translating sleeves critical components in the cascade thrust reverser systems used in today’s commercial jet engines the complex layups facilitated by laser projection systems (SL Laser FACC worked with customer UTC Aerospace Systems (UTAS previously Good-rich Aerostructures) to develop engineer and qualify the first sleeve to use a double-degree acoustic surface and undulated (chevron) engine nozzle design both achieving significant noise reduction FACC also developed a weight-optimized design for the Airbus A350 XWB Both programs are now in production.  Plant 4 also houses two large autoclaves (see Fig 9) built by Maschinenbau Scholz GmbH & Co One is 12m/40-ft long by 4.5m/13 ft diameter and the other is 12m long by 6m/20 ft diameter Each is capable of 250°C/482°F and able to accommodate the sleeve cowls and other massive parts.  the various sleeve components are assembled each sleeve is painted and then proceeds through quality assurance (QA) Plant 4 also accommodates an 8 by 4 by 2m (26- by 13- by 7-ft) 5-axis CNC milling machine and multiple laser coordinate measurement machines and ultrasonic inspection units that facilitate QA Now a leading Tier 1 aerostructures supplier The RTM composite annulus filler it developed with Rolls Royce as part of the CleanSky Initiative was recognized with a 2014 JEC Innovation Award FACC also is in active pursuit of technology that will ensure FACC a future share in the spotlight: It’s R&D group’s desire to cut next-gen jet engine fan blade weight by 40 percent vs metal predecessors is just one of many examples Stephan claimed that the company’s financial targets — including $1 billion USD (€799 million) in total revenue by 2016 — are readily achievable given the aerocomposites market’s 5 percent annual growth rate Although he acknowledges that “China and Russia are more long-term investments,” FACC is nonetheless actively pursing growth in the East and will soon assume a 24 percent share in the KAPO-Kompozit facility (Kazan This 33,000m2/355,000-ft2 facility will not only produce flaps rudder and fairings for Superjet International’s (Venice but autoclaved prepreg components for Airbus and Boeing aircraft as well “We are qualifying the Kazan plant now as a new FACC site,” says Stephan “We have already done this with the facility in Abu Dhabi where we have partnered with Mubadala the risk of expansion into new markets is an obstacle it’s an opportunity enabled by its OEM-recognized emphasis on engineering and program management “The key to all of our locations is that we .. can not only control the production processes but also protect our customers’ intellectual property.” He adds that despite its diverse operations and large number of different part programs “our additional strength is that we have always been solely focused on composites.” Plant 4 also houses two large autoclaves (see Fig. 9) built by Maschinenbau Scholz GmbH & Co. KG (Coesfeld Although it’s “new” to aerospace liquid resin infusion has been the focus of R&D at FACC (Ried im Innkreis) since 2001 “The issue,” said FACC’s aerostructures product development director Hermann Filsegger “is in getting 100 percent wetout with no voids in a large part with this much complexity.” That’s not are more than 1 inch/25.4 mm thick at the roots “It is not acceptable to go back and do ‘emergency’ processes to remediate dry spots.”  “It is still in the breathing path but easier to apply and enables a very robust process that takes care of the consistency problems while delivering 100 percent impregnation.” When asked about the cost of producing primary structures in this way Filsegger explained that the dry fiber lay down is much faster than hand layup and even automated prepreg layup “This integrated wing panel has just a slightly curved surface,” he noted “So laying these fabrics is like rolling out carpet The noncrimp fabric basically prefabricates your laminate configuring five plies into one layer.” (See Fig The company continues to refine its proprietary MARI process with an eye toward production of primary structures Can OOA liquid infusion molding compete with ATL prepreg in production manufacturing assuming some necessary innovations in NDT “But we still need to work on the right fiber materials for permeability and also better flow resins with a short cure time.” He pointed out that the entire system must be developed together — fiber process and inspection — and much work remains in optimization Well-developed processing technology notwithstanding such work also demands a commitment in time and perseverance “Our thermoplastic copolymer is woven into the fabric making up 8 percent of the laminate without any clustering or filtering of the toughener,” he said trying four to five resins and then 10 to 15 different combinations of parameters to see what worked and how to minimize variability realizing that permeability is the largest cause of unreliability in infusion.” “Only one resin worked,” he added Austria) has always been an engineering-based company started out as head of R&D at ski manufacturer Fischer GmbH (Ried im Innkreis When the company faced having to lay off half of its 100 R&D engineers in 1981 that the company should design parts for other industries his group won a worldwide competition to develop the Airbus A310 crossbeam floor support (floor strut) using carbon fiber/epoxy prepreg “We completed development in six months,” Stephan recalled “which was impressive because the structure included 75 parts and had 35 different configurations due to changes in loads depending on the location in the fuselage.”  with 27 employees and annual revenue of $1.5 million USD (€1.2 million) Conn.) to make doorframes for the McDonnell Douglas (St and the company was awarded the composite flap hinge fairings and sidewall panels contract (previously aluminum) for the McDonnell Douglas MD-11.  When it was spun off as an independent company in 1989 FACC AG had grown to 102 employees and $7.5 million USD (€6 million) in annual revenue and had begun production of overhead luggage bins and ceiling panels for the Airbus (Toulouse Its first complete passenger cabin was for the MD-95 which was renamed the B717 after The Boeing Co Ill.) acquired McDonnell Douglas in 1996.  FACC’s engine and nacelle structures business began in 1994 with the engine nozzle for the CFM56-5C engine on the Airbus A340-200/300 family and expanded in 1996 to fan cowls for the CFM-56 5A and 5B “That was a carbon fiber sandwich construction that we won because the previous supplier could not meet production targets.”  Plant 2 was built in nearby Ort im Innkreis This campus now hosts production Plants 2 and 3 (totaling 18,300 m2/194,000 ft2) as well as FACC’s Technology Center and adjacent Composite Lab and Test Center (Plant 5) added in 2012 and capable of airworthiness certification testing for large aerostructures This facility centralizes R&D and houses 500 engineers from FACC’s three product divisions FACC already has committed to $67.6 million (€54 million) in R&D as part of the extensive investment outlined in its Vision 2020 strategy which now houses engine cowl and nacelle manufacturing was added in nearby Reichersberg in 2007.  Walter Stephan remained CEO and FACC’s Austrian operations expanded But FACC has since given greater emphasis to its global positioning FACC was awarded the complete interior contract for Commercial Aircraft Co of China’s (COMAC) C919 single-aisle jetliner it announced its joint venture with Aerocomposit a subsidiary of Moscow-based United Aircraft Corp. to develop and produce composite components for Superjet International’s (Venice Italy) Superjet SSJ100 Russia) MS-21 and other Russian-made aircraft.  FACC commissioned a new 16,000m2 (172,000-ft2) production facility in Zhenjiang China (250 km/155 miles northeast of Shanghai) to gain a foothold in a regional market that is estimated to need more than 4,300 aircraft in the next 20 years FACC offers not only local production to support aircraft OEMs’ offset commitments for aircraft purchases but also what it terms “powerful synergies,” including XAC’s experience in producing wing and empennage (vertical tail) structures SL-Laser Systems LLC The page you’re on features premium CW editorial content videos and podcasts from the CW editorial team we ask all new website users to provide some information about themselves before they are provided free access to the content We thank you for your continued interest in and support of CW Receive our weekly Newsletterand set tailored daily news alerts Advances in automation continue to make Swedish supplier’s bespoke machines more efficient Knitted Outerwear, Sports/​Activewear Swedish automation boosts Tritex sewing operations The creditors agreed to the KTM restructuring plan on Tuesday morning at the regional court in Ried im Innkreis According to restructuring administrator Peter Vogl the "game-changer" was that the Indian KTM partner Bajaj transferred 50 million euros on Monday evening it is not yet known which investor will ultimately join The transfer of 50 million euros removed the risk from the creditors and strengthened their trust "Rather 90 than 80 percent" of the creditors - calculated by capital - accepted the restructuring plan there were only 37 dissenting votes out of around 3,500 approvals - essentially one large and a few small creditors Stefan Pierer - now only Co-CEO - appeared at the meeting bypassing the waiting media representatives CEO Gottfried Neumeister was visibly relieved after the meeting: "We fell three months ago and we fell so hard that we couldn't have gotten up on our own." This help meant "painful cuts for creditors With the acceptance of the restructuring plan "we have gained time to properly continue the investor process we have started," Neumeister continued as well as how many applicants are still in the running They refer to "confidential discussions." But: "I can assure you that all participants are interested in continuing and not just in the brand or a breakup." He currently does not see any further jobs at risk The confirmation of the restructuring will also depend on the continuation costs expected to arise by May 23 the Alpine Creditors' Association (AKV) announced The first tranche of this continuation guarantee of 50 million euros already arrived yesterday in a trust account of the restructuring administrator It is planned that production will resume in mid-March 2025 Creditreform stated to APA on Tuesday afternoon that although the investors have not yet been announced the continuation of operations is initially secured The Credit Protection Association KSV1870 also expressed satisfaction: "From a creditor's perspective an investor entry and the continuation of the company are economically sensible In the event of a court-ordered closure and liquidation of the company creditors would receive a distribution quota of just under 15 percent." The parent company Pierer Mobility stated in a release regarding further procedures: "The planned full utilization of the four production lines in single-shift operation is to be achieved within three months." The stock market apparently assumed from the outset that the company would be rescued The share price of KTM's parent company Pierer Mobility has doubled since the announcement of KTM's insolvency at the end of November Regarding media reports suggesting that the insolvency application might have been delayed too long insolvency administrator Vogl commented: "It is not the case that it has been clearly established that the insolvency was filed too late." Following the restructuring plan meeting of KTM AG those of the also insolvent KTM subsidiaries KTM Components GmbH and KTM Research & Development GmbH were held on Tuesday afternoon Both the restructuring plan of KTM Components GmbH (30 percent quota) and that of KTM Research & Development GmbH were accepted This article has been automatically translated, read the original article here Der Ex-WAC-Coach wird neuer Trainer der Hütteldorfer Der SK Rapid präsentiert am Sonntag den Nachfolger von Dietmar Kühbauer Wie es sich bereits angekündigt hat, übernimmt Ferdinand Feldhofer ab sofort das Zepter in Hütteldorf Bereits am Montag wird der ehemalige Inennverteidiger der 91 Spiele für den SK Rapid bestritt das geben die Wiener in einer Presseaussendung bekannt Feldhofer unterschreibt bis zum Ende der Saison 2022/23 außerdem gibt es eine Option auf Verlängerung Zuletzt war der 42-Jährige für den WAC zuständig allerdings musste er die Lavanttaler im März dieses Jahres nach internen Differenzen verlassen Der Neo-SCR-Coach nimmt Matthias Urlesberger, mit dem er bereits beim WAC und bei Lafnitz zusammenarbeitete, als zusätzlichen Co-Trainer mit. Thomas Hickersberger bleibt bei Rapid Auch Jürgen Macho (Tormanntrainer) Alexander Steinbichler (Athletiktrainer) Tony Prünster (Reha- und Individualtrainer) und Daniel Seper (Videoanalyst und zudem Assistenztrainer) bleiben Rapid unter Feldhofer erhalten Für Feldhofer ist es die Rückkehr ins tägliche Geschäft, nachdem er zuletzt acht Monate ohne Trainerjob war. Der Steirer, der unter anderem auch mit dem LASK in Verbindung gebracht wurde freut sich auf seine neue Aufgabe: "Es fühlt sich richtig gut an es ist eine Rückkehr in eine vertraute Umgebung Nach intensiven Gesprächen mit den Rapid-Führungskräften war für mich sehr rasch klar dass wir im Fußball-Denken total auf einer Wellenlänge sind Ich kann es kaum erwarten meine Spieler persönlich kennenzulernen und mit ihnen am Platz und darüber hinaus zu arbeiten." Vom sportlichen Verantwortlichen der Hütteldorfer gibt es viel Lob für den neuen starken Mann an der grün-weißen Seitenlinie: "Er zählt zu einer neuen setzt auf innovative Arbeitsmethoden und wird mit großem Engagement und Fachkenntnis seine neue Herausforderung antreten Ferdinand Feldhofer hat bereits bei seinen bisherigen Stationen bewiesen dass er auf attraktiven Fußball mit einer konkreten Idee setzt und mit seinem Konzept auch Erfolg haben kann die sich künftig durch den ganzen Verein ziehen soll voll identifiziert und diese auch umsetzen will." Die grün-weiße Vergangenheit Feldhofers, der 2005 beim vorletzten Meistertitel der Hütteldorfer und Josef Hickersberger als Stammspieler dabei war "Dass Feldhofer eine grün-weiße Vergangenheit als Spieler hat und dadurch auch sehr gut weiß war aber für die Entscheidung kein ausschlaggebendes Kriterium" dass wir mit Ferdinand Feldhofer die bestmögliche Wahl getroffen haben und freue mich auf die Zusammenarbeit dass er auch jetzt schon Alternativen im europäischen Ausland gehabt hätte dass wir nun gemeinsam an die kommenden Herausforderungen herangehen können." © 2025 Sportradar Media Services GmbH