GT Restructuring advises renowned tool maker Heck + Becker in insolvency in self-administration

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GT Restructuring, the restructuring unit of Greenberg Traurig in Germany, is advising tool maker Heck + Becker located in Dautphetal near Marburg, in its debtor-in-possession proceedings. Gordon Geiser, who was appointed as Chief Restructuring Officer at Heck + Becker, stated that he is confident that the company will be successfully restructured by spring 2021 despite the general crisis in the automotive supply industry.

Heck + Becker has approximately 180 employees. It is reported to be one of the most successful tool makers in the automotive industry. According to the company, since the 1990s, Heck + Becker has concentrated exclusively on the manufacturing of upmarket die-castings and has thus been involved in the development of innovative technologies in the automotive industry. The company also notes it operates one of the world's largest and most modern integrated die-casting technology centers. Factors cited as reasons for this step include current uncertainty and recent change in the automotive industry and the diesel crisis, further exacerbated by the economic impact of the COVID-19 pandemic.