Gee that sucks... i always thought they were one of the leading board makers for Nvidia chipsets.
Translated...
Elsa is insolvent
07.02.2002 16:41:10
The German Elsa AG is insolvent. This indicated the enterprise in a Ad-hoc-message. Elsa quit the lines of credit to filters of eight banks, are for a repayment no means at the disposal. The executive committee checks at present whether Elsa must place an insolvency request.
From the Ad-hoc-message it continues to follow that Elsa is with the seven banks with 28 million euro in the chalk. A further credit institute does not want to extend a limited rahmenkredit of 10 million euro over 30 March 2002 outside, the other banks already reclaims its cash to 15 February 2002. If this payment should take place, the demand for 10-million becomes likewise on 15 February 2002 due.
Thus Elsa are missing to now acutely at least 38 million euro. To the comparison: In its last business quarter Elsa could gain a conversion of 57.1 million euro, with 4.9 million euro loss. Elsa is thus with a third of the quarter conversion in the chalk.
Elsa indicates that negotiations with an investor, in which also the banks were involved failed. " the stock of the enterprise is thereby not secured " is called it in the Ad-hoc-message. The enterprise remain now three weeks time, in order to place an insolvency request.
" we are of the decision of the banks surprised and sadly " said Elsa speakers Heiner Dahmen in the discussion with tecCHANNEL. Whether by the dramatic financial situation also the only on Wednesday announced distribution of the GeForce4-Karten von Elsa is affected, could not judge Dahmen yet. Dahmen did not want to commentate also possible effects on Elsas CeBIT appearance.
The inability to pay of the largest German manufacturer of diagram and network products does not come under any circumstances surprisingly. After the ever more badly becoming quarter results Elsa had to disclaim 2001 rumors again and again since autumn around an inability to pay. The announced economy measures came for it however probably too late. In the industry already one whispered, Elsa had to pay its Rechungen for some months from week to week.
The past development of the now threatening failure can be reread in tecHistory on the right. Still one year ago Elsa was after long period of reduced circumstances profitabel . (never)