BAVARIAN MANUFACTURER OF UNMANNED AERIAL VEHICLES FILED FOR BANKRUPTCY

Germany company EMT, which was engaged in the production of military unmanned aerial vehicles for the German Armed Forces, is ‘dismantled’ piece by piece by its creditors. The company has already started the bankruptcy proceedings and now the creditors must distribute the financial assets of the company among themselves. Experts say that the reason for the ruin of the company that worked for the German Armed Forces was the failure to sign a contract with the Saudis last year.

The failure of the deal for the supply of reconnaissance vehicles negatively affected not only the company's budget, but also the state of affairs in the German army.

The drone production was part of a German Army's IT Project aimed at creation of medium-range reconnaissance systems.

Now the project may be suspended or frozen, since it will not be possible to complete work on it without the required number of UAVs. However, as noted in the publication of the Augen Geradeaus local media, the operation of the enterprise itself will continue. The Israeli company Rafael Advanced Defense Systems Ltd. will take over control of the plant's activities.

It is planned that the investor will cover the payments of the company's debts to creditors.

EMT company currently employs about 200 people. Until recently, its main product was the unmanned aerial vehicles LUNA and ALADIN - on the basis of one of these models, it is planned to establish the production of drones of a new modification, replacing outdated reconnaissance equipment with an expiring service life.