The company, which belongs to the Dihag-Holding, a leading foundry group in Europe, has been struggling with a lack of orders and high energy costs, pushing it into the red since 2017.
Despite the insolvency, the IG Metall union remains optimistic about the future. Stefan Ely, Managing Director of IG Metall Dresden, emphasizes that insolvency does not necessarily mean the closure of the plant, but rather a new economic beginning under different conditions. The company is seeking self-administration, with the current management remaining in office and being accompanied by a trustee.
The Coswig site is expected to continue production, according to signals from the shareholder. Around 260 people are employed at the plant. The Walzengießerei Coswig is a traditional company with a history dating back to 1892.
Source: https://www.mdr.de/
