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GER - MAT Foundry Group is looking for buyers for the foundry in Neunkirchen in Saarland

The Ferraro Group could be a potential buyer

As the Saarbrücker Zeitung reports, the MAT Foundry Group is looking for a buyer for its foundry in Neunkirchen. The supplier confirmed plans for a possible sale to the Ferraro Group, also based in Neunkirchen, on Wednesday. The responsible union IG Metall has been informed of the process.

MAT cites the crisis in the automotive industry, worldwide overcapacities in the foundries and a generally difficult market situation as reasons. In the past few years one has invested in the location "despite considerable losses" and is therefore an attractive offer.

In order to make the location profitable again, it is necessary to involve a partner whose core business enables synergies to secure the competitiveness of the location, according to MAT. The management is convinced that the Ferraro Group has the necessary prerequisites. Ferraro did not want to comment specifically, but there are indications that the company has already confirmed the purchase plans.

According to the IG Metall trade union, there are fears of job cuts and further cuts at MAT. One is in negotiations with the 420 employees, who have probably already been asked to forego Christmas and vacation pay. Even redundancies for operational reasons cannot be ruled out at the moment.


 

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