Business

FIMER OBTAINS THE ADMISSION: GO-AHEAD FOR THE RELAUNCH PLAN

FIMER, leader in the field of renewable energy solutions for solar and e-mobility, has been admitted to the composition procedure with creditors by the Court of Arezzo and is now ready to start the relaunch phase. 

FIMER, a company 100% Made in Italy, with its Italian offices located in Vimercate (Monza Brianza) and Terranuova Bracciolini (Arezzo), key player in the field of solar energy and e-mobility, has been admitted to the composition procedure in direct continuity by the Court of Arezzo with decree notified on the 22/09/2022, based on the industrial plan presented last June 28th, developed to achieve a full recovery of the production activities of solar inverters and charging solutions for electric vehicles. 

The industrial plan aims at the progressive but constant overcoming of the financial crisis that hit the company during the pandemic emergency, also impacted by the shortage of components and raw materials on a global scale, all factors that have contributed - along with other management-related ones – to the emergence and subsequent worsening of the cash liquidity and to the slowdown of the production activities. 

One of the key elements for the return to full capacity of the production activities is the support of additional finance authorized by the Court of Arezzo - for the amount of 45 million euros - which will be disbursed by Generalfinance. Such financial support is aimed at allowing the purchase of raw materials and components which are essential in order to secure a full recovery of the production activities. Thanks to the considerable amount of backlog orders this will, in turn, allow to cover the costs related to the start of the production process of the new product platforms recently launched (and, therefore, ready hit the market) designed with cutting-edge technical features, to ensure reliability and competitiveness both in the solar and e-mobility sectors. 

The terms, objectives and actual feasibility of the industrial plan, as required by the law, was the subject of an independent certification issued by Dr. Massimo De Dominicis who, together with the members of the Board of Directors and the lawyers of Studio Gatteschi based in Arezzo, participated at the hearing held on September 14th at the Court of Arezzo, admitting FIMER to the subsequent steps of the procedure.