Hengeler Mueller advises Samsung Corning on closure and sale of German TV Panels production site
06. September 2007
After concluding a compromise of interests and a social plan, Samsung Corning Deutschland GmbH has closed down its German production site for tv-panels and cones in Tschernitz, Brandenburg (Germany). The several hundred employees have been given the opportunity to move into a service and qualification company. The company premises as well as various other assets have subsequently been sold to Glasmanufaktur Brandenburg GmbH. Samsung Corning is a global joint venture by Samsung Co., 114 and Corning Inc., USA.
Hengeler Mueller advised Samsung Corning on this transaction. The Hengeler Mueller team was led by partner Cord-Georg Hasselmann (M&A/Corporate, Berlin) and included Hans-Joachim Liebers (Labour, Frankfurt) and Birgit Spießhofer (Regulatory, Berlin) as well as associates Josef Hofschroer (Berlin), Christian Hoefs (Frankfurt), Christian Sellmann (Berlin) and Lars Kloster (Frankfurt).