Around 80 jobs remain at the Königsbronn site | Purchase agreement to enter into force on 1 May | The company filed for bankruptcy in December 2018 for the third time
The insolvency administrator Martin Mucha of the Stuttgart law firm GRUB BRUGGER sold SHW High Precision Casting Technology GmbH last Thursday. The buyer is AVIR Walze Holding GmbH, which will take over the business operations of SHW HPCT through its investment company Hüttenwerke Königsbronn GmbH.
On May 1, 2019, Hüttenwerke Königsbronn GmbH, with around 80 employees, is to resume production and delivery of (die-cast) rollers as well as services for diecast rollers of the insolvent SHW HPCT in Königsbronn. The acquired employees will also hold a one-third stake in AVIR Walze Holding. So not only jobs are to be preserved; Rather, the employees should also participate in the future success of the company. The company purchase agreement is still subject to various closing conditions, such as the entry into existing leases, the conclusion of agreements with the main customers for future cooperation, etc.
SHW High Precision Casting Technology is a foundry specializing in the production of diecast rollers, etc. specializing in the paper, food, and coating production industries as well as wear castings for the crushing industry. The castings weigh between 100 kg and 120 t. The service portfolio also includes technical services such as roll calculation, design and calculation construction, material selection and simulation.
The company had fallen into an economic imbalance and had to file for bankruptcy in 2013 and 2017. In October 2018, the foundry in Königsbronn was closed due to lack of funds; After a rescue operation with the involvement of the main customers had failed, the management again filed for insolvency in December 2018. As part of the third bankruptcy, the decommissioning of the company's business was initially initiated.
"I am glad that in all likelihood it was possible to find a solution for the SHW HPCT at the last second. Above all, I am pleased for the 80 employees whose jobs will be saved. I wish the new owners much success," said insolvency administrator Martin Mucha.