We would like to inform you, that by decision of the Local Court in Marburg , Germany, dated October 17th, 2022, preliminary insolvency proceedings for DRONCO GmbH are in place.
DRONCO’s management had filed for initiation of insolvency proceedings as the regional economic challenges, specifically within Germany, have significantly impacted the construction market. DIY markets and the building materials trade have virtually come to a halt due to rising interest rates, declining construction activities and overall sluggish demand. At the same time, prices for raw materials, external services and energy have increased dramatically.
Osborn, in Germany, is performing well and has a healthy business model that is not affected by the insolvency of DRONCO GmbH.
Please do not hesitate to contact your Osborn representative in case of any questions.