The District Court of Marburg has approved the application of DIHAG Hasenclever GmbH for the initiation of protective shield proceedings and has ordered preliminary self-administration. This process exclusively concerns DIHAG Hasenclever GmbH and has no impact on the other companies within the DIHAG Integrated Foundry Group.
As part of the protective shield proceedings, the existing management remains fully operational and will oversee the restructuring process under the supervision of a preliminary trustee. To support this process, restructuring expert Dr. Sebastian Knapp, attorney-at-law from the firm Dr. Knapp Restructuring Law, has been appointed as general representative. Additionally, the District Court of Marburg has appointed attorney Dr. Romy Metzger from the law firm SGP Schneider Geiwitz as the preliminary trustee.
Background and Objectives of the Protective Shield Proceedings
In May 2024, a subsidiary of the DIHAG Integrated Foundry Group took over the insolvent Eisenwerk Hasenclever & Sohn GmbH. This acquisition was carried out with the support of key customers to secure the continuation of the long-established foundry. However, due to the loss of major automotive series projects and the persistently weak demand in the automotive sector, financial restructuring became unavoidable. As no agreement could be reached among the financing customers regarding the necessary contributions, the application for protective shield proceedings became necessary.
The objective of the protective shield proceedings is to strengthen DIHAG Hasenclever GmbH in the long term and position it competitively. Business operations will continue with all employees, and existing customer orders will be fulfilled reliably. The management is committed to a sustainable financial restructuring to ensure a long-term perspective for both employees and customers. Given the stable demand for the foundry's products and the support of major customers, the management is optimistic about successfully overcoming the challenges.
This process exclusively concerns DIHAG Hasenclever GmbH at its Battenberg site. The other companies within the DIHAG Integrated Foundry Group are not affected. Additionally, there are no significant operational or financial interdependencies between DIHAG Hasenclever GmbH and the other companies in the group.
About the Protective Shield Proceedings
The protective shield proceedings are a special form of self-administration aimed at companies that are at risk of insolvency but have not yet become insolvent. The management remains in office and develops a restructuring plan together with a restructuring expert under the supervision of a court-appointed trustee to ensure the company’s long-term viability.
About DIHAG Hasenclever GmbH
DIHAG Hasenclever GmbH is a leading manufacturer of high-temperature-resistant exhaust components and a valued partner of major automotive manufacturers and system suppliers. With a 250-year tradition, the company employs more than 600 people at its Battenberg site.
