“Our philosophy is to implement systems with the best possible economic efficiency and the latest environmental technology. From concept creation, planning and official approval to delivery, assembly and production support, we offer a system of innovative and high-performance systems tailored to your requirements,” it says on the company’s homepage. “Our strength lies in the high-quality construction of a painting booth, paint dryer or the various process zones including the preparation area in relation to the paint sanding with its sanding dust extraction and the associated process zone in the form of a sanding booth as well as the most modern process technology in complete painting systems with pretreatment and conveyor technology.”
And it goes on to say: “The authority treatise is also related to the topic of ‘surface’ in process implementation and, for our specially developed energy recovery systems, the support of the environmental support treatises is also taken care of.”
Sea AQUA was over the assets of the beta systems GmbHFN 176314k, based in Wels, applied for the opening of bankruptcy proceedings at the Wels Regional Court. “The company is led by managing director and sole shareholder Manfred Bründl and is active in the planning, sales and implementation of painting systems for industrial and commercial customers,” says the AKV. A total of 83 creditors and 9 employees are affected by the insolvency.
The causes of bankruptcy
According to information in the bankruptcy filing, bad debts of around 1.1 million euros as well as threatened claims for damages from several major projects led to considerable financial burdens. The resulting over-indebtedness and insolvency made it necessary to file for insolvency.
Debts and assets
According to the insolvency status, the liabilities amount to 7.15 million euros, the assets have a liquidation value of 1.32 million euros.
No future
“The company management currently assumes that it is not possible to continue operations,” it continues. “Due to a lack of financing options and the high economic risks involved in completing ongoing projects, the prospect of immediate closure of the company was announced. The company also does not intend to submit a restructuring plan.”