Lindeteves-Jacoberg Limited (LJL, SGX: L15 ), based in Singapore, is an investmentholding company which provides management services to its subsidiaries. The subsidiaries are in the business of distribution of electric motors. The company was founded in 1947. It is listed on the Stock Exchange of Singapore.[1]
In 2006 the company experienced liquidity problems[2] and was acquired by the Austrian-based ATB group.[3] In 2011 ATB's parent A-TEC became insolvent and ATB itself was purchased by the Chinese company, Wolong Holding Group Co Ltd.[4][5]
Sold to ATBedit
The company was originally in the business of producing and distributing electric motors, as well as power generation, waste treatment systems and engineering.[6] LJL purchased Australian-based motors manufacturer Western Electric in the 1990s, German-based motors manufacturer Schorch in 2001 and British-based motors manufacturer Brook Crompton in 2002.[6] In 2010 all the manufacturing plants were sold to ATB, so that only the motors distribution subsidiaries remained.[7]
Downsizingedit
In 2004, the company closed/downsized the last remaining British plants in Huddersfield and Guiseley and moved production to Poland and China. The restructuring costs were high and turnover suffered.[8] By 2010 the group's liabilities were reported to exceed its assets by more than 8 million SGD.[9] The company was threatened by two lawsuits and could not be sure to have enough cash to cover these obligations. It was relying on financial support on its parent ATB, which relied on financial support from its ultimated parent, A-TEC Industries AG. However, in October 2010 A-TEC started court-supervised reorganisation proceedings.[9]
Wolongedit
In October 2011 ATB itself was sold to the Chinese motors manufacturer Wolong. One of the lawsuits was lost, but a subsidiary of Wolong purchased the judgment sum and agreed to pay 14 million SGD in five installments until 2016.[7]
lindeteves, jacoberg, limited, based, singapore, investment, holding, company, which, provides, management, services, subsidiaries, subsidiaries, business, distribution, electric, motors, company, founded, 1947, listed, stock, exchange, singapore, contents, li. Lindeteves Jacoberg Limited LJL SGX L15 based in Singapore is an investment holding company which provides management services to its subsidiaries The subsidiaries are in the business of distribution of electric motors The company was founded in 1947 It is listed on the Stock Exchange of Singapore 1 Contents 1 Liquidity problems 2 Sold to ATB 3 Downsizing 4 Wolong 5 Subsidiaries 6 References 7 External linksLiquidity problems editIn 2006 the company experienced liquidity problems 2 and was acquired by the Austrian based ATB group 3 In 2011 ATB s parent A TEC became insolvent and ATB itself was purchased by the Chinese company Wolong Holding Group Co Ltd 4 5 Sold to ATB editThe company was originally in the business of producing and distributing electric motors as well as power generation waste treatment systems and engineering 6 LJL purchased Australian based motors manufacturer Western Electric in the 1990s German based motors manufacturer Schorch in 2001 and British based motors manufacturer Brook Crompton in 2002 6 In 2010 all the manufacturing plants were sold to ATB so that only the motors distribution subsidiaries remained 7 Downsizing editIn 2004 the company closed downsized the last remaining British plants in Huddersfield and Guiseley and moved production to Poland and China The restructuring costs were high and turnover suffered 8 By 2010 the group s liabilities were reported to exceed its assets by more than 8 million SGD 9 The company was threatened by two lawsuits and could not be sure to have enough cash to cover these obligations It was relying on financial support on its parent ATB which relied on financial support from its ultimated parent A TEC Industries AG However in October 2010 A TEC started court supervised reorganisation proceedings 9 Wolong editIn October 2011 ATB itself was sold to the Chinese motors manufacturer Wolong One of the lawsuits was lost but a subsidiary of Wolong purchased the judgment sum and agreed to pay 14 million SGD in five installments until 2016 7 Subsidiaries editAs of 2011 LJL had the following subsidiaries 1 Brook Crompton UK Ltd UK Brook Crompton Motor Inc USA Brook Crompton Ltd Canada Brook Motors International Pte Ltd Singapore Western Electric Asia Pte Ltd Singapore Turnover in 2011 amounted to 52 million Singapore dollars References edit a b Profile Lindeteves Jacoberg Ltd LIJO SI Reuters Archived from the original on 28 September 2014 Retrieved 30 July 2012 Annual Report Filling LINDETEVES JACOBERG LTD LJ Singapore Stock Quote amp Company Profile Businessweek Chinese company buys Brook Crompton s parent ATB for 100m October 2011 Archived from the original on 2013 04 20 Retrieved 6 August 2012 Brook Crompton gets a Chinese owner PDF January 2012 Archived from the original PDF on 2 February 2014 Retrieved 6 August 2012 a b Drives amp Controls News UK news Invensys sells bulk of Brook Crompton to Singapore group Archived 2007 12 19 at the Wayback Machine a b LGL annual report 2011 permanent dead link 2004 Annual Report Filing cited at Morningstar com a b LGL annual report 2010 permanent dead link p 2External links editLindeteves Jacoberg Limited ATB group Retrieved from https en wikipedia org w index php title Lindeteves Jacoberg Limited amp oldid 1182569973, wikipedia, wiki, book, books, library,
