UPDATE: English press release added

An employee initiative in the form of a management buy out has offered to purchase all photochemical formulas, the Tetenal brand and the production facilities of its former employer starting April 1st 2019.

It was reported today by German-based publication, PhotoKlassik International that NEW TETENAL will take over operations and production from the insolvent Tetenal Europe GmbH and expects to take orders and engage with industry partners as early as the beginning of March 2019.

The official press release (translated from German) follows:

Norderstedt, 14. February 2019

NEW TETENAL – Employee Initiative has made offer to purchase the collection of formulas, brand and means of production of its former employer.

Following the announcement of the liquidation of TETENAL Europe GmbH and the employee initiative to rescue analogue photo-chemistry, the team around Stefania Grimme, Carsten Gehring, Burkhardt Müller and Norbert Köster-Beestermöller has been in the last few weeks an overwhelming number of positive feedback from former employees, enthusiasts of analogue photography from all over the world, but also from commercial users and customers of the insolvent TETENAL Europe GmbH. “The many good wishes motivate us in our intention to go into the future with a NEW TETENAL”, says Stefania Grimme.

Also, industry partners – from California in the west to Japan in the east – are signaling worldwide support to establish the NEW TETENAL as an innovative and reliable partner in Germany for the world. Numerous talks to future cooperation too concretize, were agreed.

The insolvency administrator, dr. Sven-Holger Undritz, today was pleased to accept the offer of the founding team in the offices of White & Case in Hamburg. The insolvency administrator and founders team of attorneys today set the roadmap for further action in a joint meeting.

At this crucial point, the founding and commencement of the business activities of the NEW TETENAL is becoming more concrete. Following the planned production by the insolvent TETENAL, the operational business of the new company is due to commence on 1 April 2019.

“From the beginning of March, it will be possible for customers and cooperation partners of NEW TETENAL to place orders that are a prerequisite for starting production in the new start-up company from 1 April,” explain Carsten Gehring and Burkhardt Müller.

“What does NEW TETENAL stand for?” – is a frequently asked question to the initiative’s management team. “We know where we come from and understand the responsibility for 172 years of photography history. Together with the global photo community and the remaining key partners in the analogue photo industry, we will reissue proven products, ensure the supply of the film and photostudios, and create completely new business models, products and products Developing services for the future.”, notes Burkhardt Müller.

“The supply of foreign subsidiaries will also be continued without interruption under NEW TETENAL.”, adds Norbert Köster-Beestermöller.

Contacts at NEW TETENAL:

Mr. Carsten Gehring (Sales): carsten.gehring@new-tetenal.de

Mr. Norbert Köster-Beestermöller (Sales): norbert.koesterbeestermoeller@new-tetenal.de

In its original German:

Norderstedt, 14. Februar 2019

NEW TETENAL – Mitarbeiterinitiative hat Angebot zum Kauf der Formelsammlung, der Marke und der Produktionsmittel ihres ehemaligen Arbeitgebers abgegeben.

Nach dem Bekanntwerden der Liquidation der Tetenal Europe GmbH und der darauf als Reaktion gegründeten Mitarbeiterinitiative zur Rettung der analogen Photo-Chemie hat das Team um Stefania Grimme, Carsten Gehring, Burkhardt Müller und Norbert Köster-Beestermöller in den letzten Wochen eine überwältigende Anzahl positiver Rückmeldungen von ehemaligen Mitarbeitern, Enthusiasten der analogen Photografie aus aller Welt, aber auch von gewerblichen Anwendern und Kunden der insolventen TETENAL Europe GmbH erhalten. „Die vielen guten Wünsche motivieren uns in unserer

Absicht mit einer NEW TETENAL in die Zukunft zu gehen“, so Stefania Grimme.

Auch von Partnern aus der Industrie – von Kalifornien im Westen bis Japan im Osten – wird weltweit Unterstützung signalisiert, um die NEW TETENAL als innovativen und zuverlässigen Partner in Deutschland für die Welt zu etablieren. Zahlreiche Gespräche, um die zukünftige Zusammenarbeit zu konkretisieren, wurden vereinbart.

Der Insolvenzverwalter, Dr. Sven-Holger Undritz, zeigte sich heute erfreut, das Angebot des Gründerteams in den Kanzleiräumen der White & Case in Hamburg entgegen zu nehmen. Die Anwaltsteams des Insolvenzverwalters und des Gründerteams haben heute in einer gemeinsamen Sitzung den Fahrplan für die weiteren Schritte festgelegt.

An diesem entscheidenden Punkt konkretisiert sich nun die Gründung und Aufnahme der Geschäftstätigkeit der NEW TETENAL. Im Anschluss an die geplante Ausproduktion durch die insolvente TETENAL soll ab dem 1. April 2019 der operative Betrieb der neuen Gesellschaft starten.

„Bereits ab Anfang März wird es für Kunden und Kooperationspartner der NEW TETENAL möglich sein, Aufträge zu erteilen, die eine Voraussetzung für einen Produktionsstart in dem neuen Start-Up Unternehmen ab 1. April sind“, erläutern Carsten Gehring und Burkhardt Müller.

„Für was steht die NEW TETENAL?“ – ist eine häufig gestellte Frage an das Management-Team der Initiative. „Wir wissen, wo wir herkommen und verstehen die Verantwortung für 172 Jahre Photo- Geschichte.

Wir werden gemeinsam mit der weltweiten Photo-Community und den verbliebenen Schlüsselpartnern in der analogen Photo-Industrie bewährte Produkte wieder auflegen, die Versorgung der Film- und Photostudios sicherstellen und völlig neue Geschäftsmodelle, Produkte und Services für die Zukunft entwickeln.“, merkt Burkhardt Müller an.

„Die Versorgung der Auslandstöchter wird auch unter NEW TETENAL unterbrechungsfrei fortgesetzt“, ergänzt Norbert Köster- Beestermöller.

Ansprechpartner NEW TETENAL:

Herr Carsten Gehring (Vertrieb): carsten.gehring@new-tetenal.de

Herr Norbert Köster-Beestermöller (Vertrieb): norbert.koesterbeestermoeller@new-tetenal.de.

English press prelease

NEW TETENAL – The employee-led initiative has made an offer to purchase the collection of recipes, the brand and the production assets of its former employer.

The insolvency administrator, Dr. Sven-Holger Undritz, was delighted to accept the offer of the founding team in the offices of White & Case in Hamburg today. The insolvency administrator’s and the founding team’s attorneys have set the roadmap for the next steps as a result of today’s decision. Since the announcement of the liquidation of Tetenal Europe GmbH in January and the subsequent launch of the employee-led initiative helmed by Stefania Grimme, Carsten Gehring and Burkhardt Mueller to rescue the analogue photo chemistry pioneer, the initiative has received overwhelming support from former employees, analog photography enthusiasts from around the world and large commercial customers of TETENAL Europe Gmbh.

“These calls of solidarity and pledges of loyalty further motivate us as we move forward with a revitalized NEW TETENAL.” says Stefania Grimme

Industry partners from all around the globe, ranging all the way from California to Tokyo are signalling their support to establish NEW TETENAL as an innovative and reliable partner in Germany addressing the global photo chemistry community. Several commercial discussions have started.

At this point, the formalities of the business activities of NEW TETENAL are being established. Following the previously announced end of production by the insolvent TETENAL, the operations of the new company are scheduled to begin from the 1 April 2019.

“However from the beginning of March, it will be possible for existing customers and other commercial partners of NEW TETENAL to place orders which are a prerequisite for starting the production by the new start-up company on the 1st of April.”

add Carsten Gehring and Burkhardt Mueller

“What does NEW TETENAL stand for?” is a frequently asked question posed to the founding team. “We respect the heritage and the responsibility for 172 years of photo history that we inherit. Together with the global photo community and commercial partners from the analogue photo industry, we will relaunch proven products to ensure reliable sustainable supply for film and photo studios, while developing new business models, products and services” notes Burkhardt Mueller.

“The supply and support to the international subsidiaries of our previous employer will continue under NEW TETENAL without interruption,” adds Norbert Koester-Beestermoeller.

You can read the original story covering Tetenal’s insolvency and subsequent plans of a management buy out here.

~ EM