The creditors of Tadano Demag GmbH and Tadano Faun GmbH approved the reorganization plans for both companies at a discussion and voting meeting held in Zweibrücken on February 18.
The creditors' meeting unanimously approved the restructuring plan for Tadano Faun, while Tadano Demag’s plan gained 99% approval.
The Zweibrücken local court opened protective shield proceedings for Tadano Demag and Tadano Faun at the beginning of January 2021 after the corresponding legal petition was filed and the plans were formally reviewed.
“With the creditor’s meeting’s approval, management will now systematically continue with the company’s reorganization and the corresponding operational restructuring measures, some of which have already been initiated,” said Tadano.