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France: Viessmann Acquires SAED Technology

Submitted by Baerbel Epp on October 25, 2013

French company Viessmann Faulquemont, a subsidiary of the German Viessmann Group, has bought up the assets of French company Sophia Antipolis Energie Developpment (SAED), which was put under turnaround after being declared insolvent in April 2013. Viessmann was one of several investors submitting an offer to the court in April. According to the purchase contracts, which were signed on 16 October, Viessmann Faulquemont will take over the production equipment, the intellectual property, such as the patents and the employees of the company for an undisclosed sum.
Photo: SAED

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