Alu-Druckguss GmbH in Brieselang, Germany, has filed for bankruptcy. However, the provisionally appointed insolvency administrator wants to try to keep the business going.
Alu Druckguss GmbH has filed for bankruptcy, as the 260 employees of the company recently learned. The reason for the bankruptcy petition is apparently a bad order situation. Alu Druckguss has been supplying parts for the automotive industry to the Volkswagen Group and other customers for years.
Company should be stabilized
The insolvency agent will start by analyzing the current situation, and will try to stabilize and continue the company's operations. For this purpose, discussions will now be held with employees, customers, suppliers and, if necessary, banks. In addition, the company will try to find an investor.
The employees should not have any financial losses for the time being. Insolvency money has been applied for for a period of three months. According to experts, the change in the automotive industry towards electric vehicles could be a reason for the economic problems, as aluminum die casting is currently mainly supplying parts for internal combustion engines.
Nevertheless, the application for bankruptcy was not entirely surprising. Necessary investments were neglected, and machines were moved to a partner company in Poland, causing the number of orders to fall.