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Subal insolvent


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#21 okuma

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Posted 02 January 2018 - 03:27 PM

Any one know if manufacturing/assembly/export costs are lower in Serbia?


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#22 tangfish

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Posted 02 January 2018 - 08:47 PM

Manufacturing costs are a lot cheaper there than in places like Austria and Germany. I just talked to a friend who has a lot of manufacturing operations in that part of the world and he said Serbia should be no problem in terms of labor and infrastructure needed for manufacturing stuff like our housings. There is a lot of component manufacturing done there for the German auto manufacturers, for example.

#23 trimix125

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Posted 02 January 2018 - 11:48 PM

Hi,
the personal costs in serbia will be 50% or less than in austria.
Its a lot easier to set up a company there, the standards for enviroment protection and industrial safety are a lot lower than here in austria.

The production for some parts had been there before, now the assembling and end controlls will be done there as well.
Drilling a hole is one thing, fitting everything watterproof together the other ;-))

Dont know if they have a special customs deal with the EU.
But that would only rise the prices in europe. For overseas the custom fees had to be paid in the past as well.

Regards,
Wolfgang



#24 adamhanlon

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Posted 03 January 2018 - 02:09 AM

Hi all,

 

Subal's owner, Harald Karl has reached out to me to clarify the situation.

 

All housing production and assembly will be carried out in Belgrade.

 

Servicing, repairs along with viewfinder and port assembly will stay at Steyr

 

Sales, shipping and company headquarters will be based in Vienna. A new showroom will open in March 2018, wherein the whole range will be viewable.

 

By applying for temporary insolvency as they shutter the Steyr production and assembly facility, it offers financial advantages. According to Harald, the decision to file for bankruptcy is a purely temporary commercial one and does not relate to the health of the company.

 

He is unequivocal in stating the customers will not be affected by this in any way. All pre-order, deposits and repairs will be actioned as planned:

 

Through this process, no one will lose anything! No housings which are pre-paid, or housings that are currently being serviced or repaired!”

 

have updated the front page post to reflect his response.


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#25 TimG

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Posted 03 January 2018 - 02:28 AM

Phew... thanks, Adam. Fingers crossed.

 

Having just taken my Subal D500 housing on it's first trip (and having gone through D100, D200, D300 and D800 housings) I'd be gutted if this excellent product had reached the end of the road. Good on Harald contacting you.

 

Tim


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#26 trimix125

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Posted 03 January 2018 - 04:22 AM

Hi,

By applying for temporary insolvency as they shutter the Steyr production and assembly facility, it offers financial advantages. According to Harald, the decision to file for bankruptcy is a purely temporary commercial one and does not relate to the health of the company.

It hits only the long time employees and saves money for the owner....
A high road for a well known company.

Can be that Subal will shrink and the products can be done in serbia for the future.
But is not a propper way to run a company.

And i have no idea what a "temporary insolvency" should be. There is nothing like that in austrian law....
I have money to run my company or not.

Konkursverfahren: Voraussetzung für ein Konkursverfahren ist das Vorliegen von Zahlungsunfähigkeit oder Überschuldung.
This means that a company / owner can not pay the bills and the court has to open a claim with a liquidator.
Mr Karl is no longer the "legal chairman" of the company. That handles the liquidator.

Wolfgang
 


Edited by trimix125, 03 January 2018 - 04:35 AM.


#27 buddy

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Posted 03 January 2018 - 05:32 AM

Probably there is something like a "Nachlasstundung", a similar law procedure for financial troubled companies in the US under the Chapter 11.

 

But if new products will be shipped to customers that probably would require to set-up a new company other than the current Subal GmbH Austria? The question remains whether the rights for the design, trade names and patents (if any) can be used in the future without legal complications? Just speculation at this time; potential customers want clarity before making engagements...

 

Adam, did he say something about the long-awaited outstanding shipments e.g. the ND850? Is it stil possible to order? Which company will enter a sales contract with a customer und will make fulfillment?

 

Questions..questions...


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#28 adamhanlon

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Posted 03 January 2018 - 06:49 AM

Hi,

 

He did not specifically mention anything about fulfilling long outstanding orders, except for the blanket guarantee that all orders will be honored and that this is simply a restructuring. He pointed out that the logistics of having 3 operations that are quite widely separated geographically is not convenient. 

 

I would suggest contacting Subal directly for specific enquiries.

 

If I hear anything new, I will be sure to post it here...

 

Adam


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#29 trimix125

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Posted 03 January 2018 - 11:05 AM

Hi Adam,
he owns the company since 2011....
The place in Steyr, the companies old hometown, is 2 hours of driving from Vienna, where Mr. Karl has his Foto Nautica store.
From Vienna to Belgrad its 6 to 7 hours drive.
But that he knew than he placed the producing there....
Regards,
Wolfgang



#30 Cerianthus

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Posted 03 January 2018 - 11:13 AM

Am I the only one to think a planned bankruptcy is highly immoral? Just to ditch personnel that might have worked there for years and are no longer needed without a proper leave package, and shake off some debtors and save some cash.

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#31 TimG

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Posted 12 January 2018 - 03:51 AM

Just to add a small update on this:

 

I was in touch with Subal this week over a replacement part. I got a quick response and the promise that the part would be in the mail the same day.

 

Phew.


Tim
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#32 EspenB

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Posted 21 January 2018 - 12:11 PM

Well, after two plannet bankrupcies in 2011 and 2017 to get rid of debt, there is certainly questionable if the cheaper assembly and production in Serbia will make the company profitable in the time to come.

 

This recent restructuring is caused by bad housing sales in the previous years. Perhaps not surprising as there have been a lot of success from innovative new housing manufacturers in China.


Am I the only one to think a planned bankruptcy is highly immoral? Just to ditch personnel that might have worked there for years and are no longer needed without a proper leave package, and shake off some debtors and save some cash.

 

They did the same in 2011.