It seems like German electronics group Blaupunkt, which invented the very first FM car radio in 1952, will be able to live on as 2 investors have expressed an interest in the ailing company.
Under guardianship since September
Once, Blaupunkt was an incredibly successful car radio, speaker and amplifier manufacturer, but the downward slide meant it had to be placed under guardianship in September. With the protection against debtors in place, management is feverishly trying to reorganize the company in order to save it from bankruptcy.
A spokesperson has now revealed that at least 2 investors would be willing to invest money into Blaupunkt and talks are underway with a strategic and financial investor. "The goal is to save the company and as many jobs as possible", the spokesperson said, although he did not mention any names.
Founded in 1923, Blaupunkt stepped into the limelight in the 50's as a FM radio manufacturer. German technology group Bosch sold the company (which also built televisions and GPS devices among other things) to Munich-based investment fund Aurelius in 2008. Back then, the company with its main office in Hildesheim (Hannover) employed 1,800 people, a number that has dwindled down to 450 employees in 6 countries nowadays.