MSA Declaration
Dear business partners, dear customers and suppliers, dear employees,
hereby inform you that on 21/07/2023 our company, in accordance with the current insolvency law, filed an insolvency petition against itself.
The filing of the insolvency proposal took place after a proper assessment of the situation at MSA, with the aim of finding a suitable solution for MSA, especially in relation to our valued business partners, suppliers and employees.
From the available information, we know that the owner of the MSA company has long sought to sell the company as a whole, with the aim of fully ensuring our operational activities and, through the new owner, ensuring the entry of the necessary financial capital into the company, which would be intended for the further proper functioning of the MSA plant. Although at least two Czech businessmen with experience in the field of engineering demonstrably showed a serious interest in buying the company or in buying our factory and entered into negotiations with our current owner for this purpose, the sale itself did not take place. Despite all efforts, the sale of the company did not take place when the FAÚ of the Czech Republic issued a negative opinion on the application for permission to sell the company's shares, thereby making the sale of the company to both interested parties impossible. MSA therefore rightly assumed that it would be able to ensure the continuous operation of its company and the fulfilment of its obligations, but with regard to the impossibility of selling shares, this solution did not occur.
In response to the impossibility of selling the shares, MSA subsequently took the decision to start insolvency proceedings.
We hereby declare that the MSA company continues its operational activities and that, despite this new situation, it is ready to fulfil its obligations to its customers and business partners, both in terms of orders already accepted and new orders that we are ready to continue accepting for implementation.
In cooperation with the insolvency administrator, our company will look for all available options to maintain our operational activity so that supplies to our clients are not jeopardized. For this purpose, investors have already been approached and are ready to give us a helping hand in our new situation.
We ask our clients, suppliers and employees to continue to support us, because without them it will not be possible to continue our activities and fulfil our obligations to any of the interested parties.
We will not be giving any interviews to the media at the decision of the relevant MSA authority and will not provide any further information until further notice.
Thank you for your understanding,
Ellen Kacalova, CEO, on behalf of MSA, a.s.