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October 28, 2010

Comments

George

First of all: it's Meschede, not Eschede--totally different cities. As for Honsel itself, they got on the slippery road downwards already in 1999 when the up-to-then family-owned company went to the stock market to acquire fresh capital. Quickly the Carlyle Group (yes, the one with the close ties to the Bush family) bought Honsel completely. They invested little, but merely "optimised" the workflow by reducing the workforce here in Meschede and outsorcing various processes and know-how to new subsidiary branches all over the world. It was just a matter of time, then they sold the whole company to Ripplewood. They did what they always do, with the now known result.

David

George- thanks for the correction and the additional information. I should have guessed that Carlyle was somehow involved in the background.

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