03.09.2007

Egi in administration

Egi, the French producer of vehicle mounted aerial lifts that specialises in fully insulated platforms, went quietly into administration on February 8th. It initially petitioned the Tribunal of Commerce of Charleville-Mézières to lay-off 19 of its 59 employees as part of a restructuring plan.

After being asked to delay the action for six months the company decided that the economic situation was such that without the reduction it would not survive.

The company therefore went into administration gaining protection from its creditors and allowing it to restructure its operations.

The company goes before the Tribunal again on the 20th of September, when it hopes to be able to obtain agreement to exit.

EGI Is still in production with a workforce of 40, the company was acquired in 2006 by Gimaex See Egi acquired