S&T issues statement on insolvency of AvW companies

Consulting, outsourcing, systems integration and IT services provider S&T System Integration & Technology Distribution has issued a statement on the insolvency of AvW Invest and the AvW Group, which are S&T shareholders.

The company stated that the filing for insolvency on the part of the AvW companies has neither an economic nor an operational impact on S&T, nor does is it impose any economic obligations or burdens on S&T. The AvW companies have never been and are not in any way involved in S&T’s operational business. S&T is only one of several stakes in companies which AvW holds. The company assumes that the appointed administrator will act carefully, quickly and in the best interests of S&T in what is certainly a difficult environment.

Source: Smart Grid

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