Forward AM enters insolvency proceedings, working toward long-term restructuring solution
November 28, 2024
Forward AM Technologies GmbH is reported to have entered insolvency proceedings with the District Court of Heidelberg on November 21, 2024. In a press announcement, the company was keen to note that Forward AM’s local entities have not filed for insolvency and will continue business as usual, focusing on manufacturing and distribution of materials.
The measure was said to be an attempt to restructure and move the company towards a sustainable future. The court promptly appointed attorney Tobias Wahl, a partner at Anchor Rechtsanwälte, as the preliminary insolvency administrator.
Wahl has initiated communication with employees and business partners to assess the situation and develop a plan for the future. “The conditions for the continuation of the company are in place. Business operations are stable, and we are committed to promptly working toward a long-term restructuring solution,” Wahl stated.
Forward AM, the former Additive Manufacturing business of BASF, underwent a management buyout in July 2024. The acquisition included Forward AM’s materials and solutions, as well as its Sculpteo service business. The company offers a range of Ultrafuse metal filaments, including 17-4 PH and 316L stainless steels, for the Material Extrusion (MEX)-based Additive Manufacturing process Fused Filament Fabrication (FFF).
CEO Martin Back added, “We are confident that, together with our partners and investors, we can lay the groundwork for a successful future. Our focus remains on providing innovative solutions to the success of our customers and further strengthen our leading position in the field of 3D printing solutions.”
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