Schoeller-Electronics will turn to Schoeller Electronics Systems GmbH as of July 1st, 2016

21 June 2016

American Industrial Acquisition Corporation AIAC is new Investor, Site in Wetter will be continued, Staff and Management will stay on Board

Dear Sirs, dear Business Partners,

We are very proud to announce – as a successful finish of the insolvency proceedings – that the business of Schoeller-Electronics was successfully sold to the new SCHOELLER ELECTRONICS SYSTEMS GmbH.
As you were informed before creditors’ assembly took place on June 15th, 2016 to decide on the future of Schoeller-Electronics. Unanimously decision was taken by the creditors of Schoeller that the American investor AIAC should be granted the right to buy all business activities of the company and to proceed its activities under a new firm.
This agreement was mutually signed and approved by notary on Friday June 17th, 2016. That enables us to pursue business as usual for you as your partner seamlessly already from July 1st, 2016 under the new company name Schoeller Electronics Systems GmbH. Of course you can already place orders with our new company at any time.
We will do everything possible to fulfill the existing orders whether still under the “old” Schoeller or by transferring them into the new company. Here we again like to ask you for your kind support in this transformation.
AIAC is an American industrial holding with more than 9000 employees worldwide, more than 60 production facilities and a revenues of about 1,2 billion US$. AIAC is investing strategically in various industrial segments and is focussed on technology.

It is mutually agreed to follow up on the existing business of Schoeller together with the team of employees and the management, and to further drive, execute and implement the already elaborated restructuring concept for the site in Wetter.
The investor AIAC and the management are absolutely convinced that Schoeller Electronics Systems shall act as a nucleus for the acquisition and build-up of a larger group of European PCB manufacturers in the near future.   For you as our esteemed business partners this new situation is the end of a period of uncertainty over the last couple of months. Together with AIAC, the new Schoeller Electronics Systems GmbH has found a strong and technology-driven investor, who gives you the certainty for a reliable future planning with us.
We would like to again thank you all deeply, particularly in the name of all of our staff, for the support and patience within that special phase of Schoeller-Electronics’ business life. Without your confidence in us and your ongoing support of Schoeller, this very positive outcome and solution for the future of the company and its employees would not have been possible.
We are really looking forward to continuing a mutually fruitful and successful business with you under the new company of Schoeller Electronics Systems.

Being at your disposal for any questions at any time,
Yours faithfully,
Schoeller-Electronics GmbH

Michael Keuthen   Geschäftsführer

Alexander Reus       Geschäftsführer

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