Almost exactly one year after the start of insolvency proceedings, it is now certain that the Ortrander Eisenhütte can continue operating. Those responsible for the ironworks, led by insolvency administrator Olaf Seidel and his team, have succeeded in finding a viable solution for the continuation of the long-established Ortrander business. The location and all 200 jobs are thus secured.
The ironworks' operational business, including machinery, equipment and current assets, will be taken over by the globally active Kutluk Group and transferred to the newly founded Ortrander Gusstechnik GmbH. The legal and economic transfer will take place on 1 January 2026. This will result in decisive advantages for the customers of the Ortrand ironworks: greater delivery reliability, a broadly diversified global portfolio and greater scalability and sustainability.
The transfer and restructuring are taking place against a backdrop of difficult conditions. ‘At a time when Germany's foundry and metal industry is under enormous pressure and, according to current industry figures, almost no rescue rates are being achieved, we are delighted to be able to offer the site and its workforce new prospects with this sale,’ says lawyer and restructuring expert Olaf Seidel from the law firm AndresPartner. He wishes everyone involved in the region all the best. Once the proceedings have been lifted, creditors can expect an above-average insolvency rate of well over 50 per cent.
Thanks for the extraordinary restructuring success go to all those involved, above all the workforce in Ortrand, who made this result possible. With remarkable loyalty, discipline and determination, the team demonstrated what solidarity means in a highly stressful situation. This commitment was a decisive factor in convincing the buyer of the site's future viability.
Managing directors Jens van Haß and Sven Piesker also played a special role in achieving this solution. Their intensive efforts, perseverance and tireless commitment over the past few months have made a decisive contribution to getting the ironworks through this difficult phase and actively supporting the investor process.
Sunay Memet Aga will head up the new Ortrander Gusstechnik GmbH. He has already moved to Ortrand and is gaining a deeper understanding of the location: ‘I am delighted to be taking on this role in Lusatia. Together with the fantastic team, we want to further develop the site, build on existing strengths and position the company for long-term success in the market.’
The complex international investor process involved intensive discussions with numerous national and international investors. It was led by the management consultancy starkpartners under the direction of Dr Johannes Marcel Offergeld from Düsseldorf, with the involvement of Julia Päßler from Dresden. Lawyer Fabian Teschler from Dresden provided legal advice to the insolvency administrator. The Kutluk Group was advised on the transaction and strategic realignment by the management consultancy Gemba Partner (in particular Murat Baysan and Akan Gürler) and on legal matters by the law firm Heidemann & Küthe.
In addition, real estate experts Andreas Böker and Carsten Engmann contributed significantly to the success of the process.
The approximately 200 employees were informed today about the successful restructuring outcome and the next steps.
Background:
Ortranger Eisenhütte GmbH filed for insolvency proceedings on 18 December 2024. Upon opening the proceedings, the competent local court in Cottbus appointed lawyer and restructuring expert Olaf Seidel from the supra-regional insolvency and restructuring law firm AndresPartner as insolvency administrator. He had previously served as provisional insolvency administrator for the company. Olaf Seidel had already guided the ironworks through insolvency proceedings between December 2019 and June 2021. These proceedings were successfully concluded with an insolvency plan.
Further information:
Ortranger Eisenhütte GmbH dates back to a foundry established in 1887. For over 135 years, the ironworks has been supplying thin-walled, weight-saving quality castings. Following extensive investment, the long-established company is now a state-of-the-art foundry for machine-formed iron castings. Grey, vermicular and ductile iron castings, as well as the high-tech foundry newly installed in 2002 and modernised in 2016, are key assets of the medium-sized family business from Lusatia. Internet:www.ortrander.de
The law firm AndresPartner, Rechtsanwälte & Steuerberater, Insolvenzverwaltung & Restrukturierung, Partnerschaft mbB (‘AndresPartner’) specialises in the professional handling of insolvency proceedings. The partners of the law firm, including solicitor Olaf Seidel, are appointed by insolvency courts in North Rhine-Westphalia, Lower Saxony, Saxony, Saxony-Anhalt and Baden-Württemberg as insolvency administrators and trustees. In numerous proceedings, the firm's solicitors also assist companies and organisations as restructuring officers or general representatives. Among the best-known insolvency proceedings handled by the firm are those involving the Strauss Innovation department store chain and the Wollschläger Group. As trustees, the partners have acted for, among others, the engineering company Saurer Spinning Solutions, the Katholische Nordkreiskliniken hospitals and Brüder Schlau GmbH & Co. KG (Hammer DIY stores). In addition, AndresPartner advised the self-administration teams of the Clemens Kleine Group, ATB Schorch GmbH, Dachziegelwerke Nelskamp, Peek & Cloppenburg KG (Düsseldorf) and the AWO Bezirksverband Ostwestfalen-Lippe, among others. Internet: www.andrespartner.de
