Balda (Bad Oeynhausen / Germany; www.balda.com) has bought back the three mobile phone moulding subsidiaries it sold last year. The company lacked sufficient cash to reimburse the buyer, KS Plastic Solutions (Schondorf / Germany), for the 2007 losses at Balda Solutions Deutschland, Balda Werkzeugbau and Balda Solutions Hungaria – see Plasteurope.com of 07.03.2008.

Some financial sources say KS sought EUR 25m, others speak of “up to EUR 40m.” In a statement, Balda said its banks have agreed “not to call the existing loans at present.” Although these bankers were unwilling to grant the bridge financing desired by management, the company said “discussions with other potential lenders were successful,” and a “potential financial crisis” has been averted.

A bank in northern Germany is reported to have acquired more than 15% of Balda’s shares – which on 11 March 2008 sank to EUR 1.00 from EUR 4.00 – for an unidentified client, that could be the “mystery” lender or lenders. With the capital injection, the company apparently hopes to financially support restructuring at the spin-offs and attempt to sell them again. At the moment, analysts question whether Balda has enough resources to continue the expansion drive for its touch-screen business in Asia (Plasteurope.com of 05.10.2007).