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Bad news for Mühlhaüser Tunneling Equipements (NFM Technologies) workers

 

Le Journal de Saône-et-Loire writes that the Commercial Court judge at Chalon decides to place Mühlhaüser Tunneling Equipements (called NFM Technologies before Mühlhaüser bought it) in receivership. The workers had been expecting liquidation. It was the hope of the workers that company's assets are sold and then company's creditors are paid with the money gained from the sale. The workers have not been paid their salaries for the last two months. They saw liquidation as the only way to get paid for their salaries and also maybe for their redundancy payments.

Mühlhaüser Tunneling Equipements has not got any orders for almost two years and for the good part of the past year, there was no work for the workers.

The French TBM company NFM was acquired by German tunneling company Mühlhauser a year ago, in November 2018. But shortly afterwards  Mühlhauser went into troubles declaring bankruptcy. Later parts of Mühlhauser put on market for sale. Some months ago, again not paid for salaries, NFM Technologies workers had gone to temporary strike.

Mühlhaüser Tunneling Equipements is the only French manufacturer of tunnel boring machines. Maybe the French judge kept it in his mind.

 

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