Varta

After more than 130 years of operation, the German battery manufacturer Varta has initiated insolvency proceedings. The company attributes the crisis to a combination of declining demand, difficult market conditions, and the loss of a key client – Apple. Despite the proceedings, business operations continue, thousands of employees continue to receive their salaries, and the well-known household...

The veteran battery company Varta has filed for bankruptcy, partly due to the cancellation of a major contract with Apple. Conversely, Chinese chip manufacturer CXMT surged 500% on its first day of trading on the Shanghai Stock Exchange. The story of these two firms highlights the contrast between Germany's declining economy and China's rapid growth.