The aluminum smelter Oetinger, one of the largest buyers of aluminum scrap, has filed for insolvency at the district court in Neu-Ulm on Tuesday. Frank Kebekus of the Düsseldorf law firm Kebekus et Zimmermann has been appointed as the preliminary insolvency administrator.
The company ran into financial difficulties despite being full with orders. This is in part due to the sluggish economy in Southern Europe and the decline in prices for aluminum castings.
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