The management of the automotive supplier Walter Hundhausen GmbH has applied to the competent district court in Hagen for the opening of insolvency proceedings.
"The situation in the automotive industry is known to be critical," explains the managing director, Dipl.-Ing. Dirk Lindemann. “Worldwide, this industry has curtailed or completely shut down its production in the past few weeks due to the corona pandemic. These market distortions affect us directly ”.
The company, which has used the past weeks for complex repair and maintenance work, will continue to operate. The management is supported by the experienced renovator Dr. Thomas Kluth from Kluth Attorneys at Law. The competent insolvency court will now appoint a provisional insolvency administrator.
Walter Hundhausen GmbH is a subsidiary of GMH Guss GmbH, which has been with Christopher Seagon from the well-known law firm Wellensiek for a few days as a preliminary administrator in the protective shield procedure.
"The current challenges hit the foundry industry at a time when it was already weakened by the economic downturn in important customer industries," commented Guido Weber, CEO of GMH Guss GmbH, on the current and foreseeable market situation. "Under the protective shield that was applied for exclusively for our intermediate holding company, we are intensifying our efforts to make the Guss Group future-proof."
Georgsmarienhütte Holding GmbH supports the protective shield process.
Companies in the GMH Guss Group continue to restructure
The management of GMH Guss GmbH retains full administrative and disposal powers in the protective shield procedure.
“We were on the right track with our adaptation measures within the Guss Group,” said Weber. "After the stress test of the past few weeks, we are adjusting our catalog of measures. In particular, we are pushing ahead with the renovation measures for Dieckerhoff Guss GmbH and for Friedrich Wilhelms-Hütte Eisenguss GmbH ”. Both specialists for high-quality casting solutions serve their customers with the usual quality and delivery reliability.
As part of the previous economic restructuring, Pleissner Guss GmbH left the GMH Guss Group at the beginning of the year. Discussions about a comparable concept for Harz Guss Zorge GmbH are well advanced.