the Background was a dispute between the CDE and the majority shareholder, Andreas Heeschen, who was joined in 2002 Heckler & Koch was bought by the British arms company BAE Systems. Under Heeschens directed by Heckler & Koch in 2006, took out a high-interest loan, the weighed including the interest burden, with more than 150 million euros to the company. With the money in a garden equipment company invested in aircraft and ships. All investments were Flops. Heeschen justified this with the financial crisis, which would have made his plans for a successful diversification to nothing.
Small profit in 2019
The financial holding CDE labelled Heeschen these mistakes of the past and tried to 2019, in vain, to prevent Heeschens election to the Supervisory Board. Heeschen had pledged the CDE four years earlier, 10 million shares for a loan, the CDE wanted to have the shares now only the green light from the Federal government was missing. Now it has been given clearly, and the CDE acquires the majority of Heckler & Koch. How big is the assumed proportion is, initially, unknown.
Heckler & Koch had a run-in after two years of losses in a row in 2019, again a small profit. After tax of 1.6 million Euro remained. 2017 had been a loss of 13 million Euro, in 2018, there were eight million. The return to the profit zone is on the one hand, reductions in costs and a significant increase in production efficiency due to, on the other hand, a wage waiver agreement with the workforce, it said.Updated Date: 17 July 2020, 13:19