Van Hool is to take a further week to pursue a sustainable future for the business and enable a swift restart of production, it said on 2 April. That sits within proceedings pending before the Mechelen Enterprise Court around what is termed “a judicial reorganisation” of the troubled manufacturer, which is thought to be close to bankruptcy.
Van Hool previously said that 31 March was the target date to provide an outcome “in some form” that ensures preservation of as many activities and jobs as possible.
Before that, the Belgian manufacturer had prepared what it termed a Van Hool Recovery Plan. It included the transfer of assembly of all production coaches to its existing plant in North Macedonia.
However, that proposal ran into trouble because of what Van Hool terms “an inheritance law dispute among shareholders and the Van Hool family.” The OEM now says that disagreement has proved “unresolvable.”
Speculation around bankruptcy and sale of the business has continued in the meantime, with Van Hool acknowledging that it has spoken with potential purchasers to explore “a relaunch” of the company.
Those talks “were constructive and conducted in a good atmosphere,” it adds, noting that they had already been ongoing while a solution to the inheritance law dispute was searched for.
Co-CEO Marc Zwaaneveld confirmed in late March that Van Hool representatives were seeking a solution by the end of that month and urged calm while those efforts continued.
It has been reported by New Mobility News that Van Hool staff were sent home for two weeks on 23 March pending a conclusion on the future of the business, with that source stating that Van Hool is carrying around €400 million of debt.
Potential purchasers are said to include Dutch conglomerate VDL – which is already active in coach and bus building – via a joint bid with a third party, suggested to be German trailer manufacturer Schmitz Cargobull. Another is industrial magnate Guido Dumarey, who bought the UK-based Mellor Bus and Treka Bus businesses in late 2023.
Mr Dumarey specialises in corporate turnaround and is claimed to have advocated a rapid restart of work at Van Hool should he complete a purchase, with some coach production continuing in Belgium under his vision.
