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3.11.14

BUSMAKER INSOLVENT * Germany's Göppel bus

* Germany - Göppel bus again insolvent

Nobitz,Ehrenhain,Germany -Eurobus -3 Nov 2014: -- The traditional German bus manufacturer Göppel bus in Nobitz, Ehrenhain has fallen into bankruptcy again by the current crisis in Russia. The operation was set...  In March 2013, due to the difficult economic situation in 2012 has come into trouble company was taken over by the Russian industrial holding Kirovsky Zavod based in St. Petersburg... Göppel bus was a manufacturer of city buses and passenger trailers for public transport. Every year around 100 units were produced consisting of city buses in vehicle lengths from 10.5 to 18.75 meters and Göppel trailer factory in Ehrenhain with 127 employees at both locations... Accordingly, it made ​​the amended law impossible in Russia, to drive busses from German production in Russia. In addition, the financial situation has so negatively impacted by the collapse in ruble and the Russian extremely high interest costs that the company may be provided by the shareholders do not have liquid funds more available. The management had thus again make application for insolvency...

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