FRENER & REIFER GmbH, Bressanone, a wholly owned subsidiary of FRENER & REIFER Holding AG, successfully concluded and legally implemented a balance sheet restructuring plan with all major creditors shortly before the end of the 2021 financial year, following long and demanding negotiations and a series of formal legal steps.
The transaction involved substantial contributions from all stakeholders of the long-established South Tyrolean facade specialist. The shareholders and the local banks both also provided further financial resources, ensuring that FRENER & REIFER GmbH will now embark on its planned growth course with healthy equity capital and solid financial resources.
“2021 was an extremely challenging year for the entire Group. In the end, however, we reached a decisive milestone. FRENER & REIFER currently has a gratifying order backlog and, with its new capital base, is very confident about the future,” says Dr. Andrea Borgato, CEO of FRENER & REIFER Holding AG.