Always on the lookout for new challenges, we became aware of the refrigeration technology market back in 2019. Through market development, we got to know Offenwanger GmbH and, above all, the ingenious design principle behind Offenwanger valves. Mutual trust and, above all, our enthusiasm for this product led us to become a sales partner of Offenwanger on the market.
Unfortunately, the Offenwanger company ran into financial difficulties due to the coronavirus pandemic and ultimately had to file for bankruptcy.
This initially led to the collapse of supply chains and dramatic delivery backlogs for customers. During this difficult phase, we worked closely with the insolvency administrators to reactivate the collapsed supply chains and serve our global customers as best we could.
An expert opinion commissioned by the insolvency administrator has concluded that the sale of Offenwanger GmbH's assets is unavoidable. We were able to assert ourselves against international interested parties and have acquired all rights, licenses, and assets of Offenwanger GmbH. This purchase makes us the only company authorized to manufacture and distribute valves based on the Offenwanger principle.
Out of respect for the originator of this valve, Mr. Wolfgang Offenwanger, we will market, maintain, and further develop this refrigeration valve product under the protected brand name PriWO (Prinzip Wolfgang Offenwanger). With nearly 40 years of experience in valves and our existing infrastructure, we are ideally suited for this task.
We are proud to announce that in just a few weeks, we have not only succeeded in integrating a new product with all its facets into our merchandise management system and production processes, but also in almost completely clearing the backlog of deliveries that had accumulated over the past few months. We would like to take this opportunity to express our sincere thanks to our customers and suppliers for their understanding and tremendous support during this turbulent time.
A big thank you also goes to our employees, who have achieved almost superhuman feats during this time.
We are delighted about this new business area and look forward to working in partnership with all those who insist on the original.
We are PriWO
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