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Zalman clarifies its situation in official statement

by Ryan Martin on 26 November 2014, 14:15

Tags: Zalman (090120.KQ)

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At the start of November word rapidly spread that Zalman, a company well-known for its diverse array of cooling products, had gone bankrupt. That belief stemmed from the fact Zalman's parent company, Moneaul, was involved in multi-billion dollar fraud which caused a major financial scandal in Korea. The initial shock surrounding Zalman's alleged bankruptcy was then followed by consumer concern about the situation regarding outstanding product warranties.

Thankfully, the situation is not as bleak as initially thought. Zalman recently released an official statement which fully clarifies the company's standing. In an intriguing turn of events a Korean courthouse handed down a decision which absolves Zalman of the consequences of its fraudulent parent company's actions, allowing it to remain in business. Furthermore, Zalman's president, Min Park, claims that the turmoil will not affect product warranty coverage; all outstanding product warranties will be serviced by Zalman's customer support in the normal way.

All that sounds promising but Zalman is still on fragile ground. As part of the Korean courthouse ruling Zalman will be severed from its parent company, Moneaul, and will undergo court-supervised restructuring. Zalman's finances have also been hit hard by the debacle; most notably its stock value was virtually wiped out and pulled from trading on the KOSDAQ. Intricate details about the company's financial situation are not known but for the sake of justice let's hope Zalman makes it through.



HEXUS Forums :: 7 Comments

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This certainly doesn't mean Zalman is out of the woods - its going to be all about its cash flow and whether it can stand on its own with whatever lending burden it may be left with (which sounds like it might be significant if it needs ‘restructuring’).
Not used any Zalman products since the old Athlon XP days but would be a shame to see a long running company like that go under. Especially for something that was not their fault.
Fingers crossed for them.
Name a single zalman product that is the best in its price range…

Yeah, I cant think of anything either.
I hope they make it, I have had a few zalman products over time (currently using a zalman case), I have always liked how they are generally a bit different.
maxp779
Name a single zalman product that is the best in its price range…

Zalman CNPS2X. The best low profile CPU fan I've ever seen, completely copper and silent for £20.