{
Pierer Industrie AG

Companies

}

pierer mobility shares plunge as ktm unit files for insolvency

Shares of Pierer Mobility AG plummeted 45% to 6.9 Swiss francs after its KTM AG unit filed for self-administered insolvency in Austria, citing an inability to meet a significant financing requirement. The company plans to negotiate a reorganization with creditors over the next 90 days, amid a broader industrial crisis and declining motorbike demand in Europe. Production will be restructured, with a reduction in output from Austrian sites projected to exceed €1 billion over the next two years.
SWI swissinfo.ch
Euro Swiss Franc Bajaj Auto Limited PIERER Mobility AG KTM AG Pierer Industrie AG AUT Stefan Pierer Show more
Finance & Economy, Market Report
16:20 26.11.2024

ktm owner seeks debt maturity extension amid financial restructuring efforts

Pierer Industrie AG is working to extend the maturity of nearly €250 million in debt due to financial challenges at its KTM motorcycle unit. The company, led by entrepreneur Stefan Pierer, has begun a restructuring process aimed at preventing creditors from demanding early repayment, without reducing their claims.
bloomberg.com
Euro KTM Pierer Industrie AG AUT Stefan Pierer
Finance & Economy, News Article
16:49 25.11.2024
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