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GER - Havelländische Zink-Druckguss restructuring itself through Insolvency Proceedings

Insolvent HZD seeks rehabilitation

The business operations of "Havelländische Zink-Druckguss GmbH & Co. KG" (HZD) will continue in full in the preliminary insolvency proceedings

All orders and services of the metalworking company based in Premnitz, Brandenburg, will continue to be delivered on time. This was announced by the court ordered provisional insolvency administrator, Sebastian Laboga today.

"HZD GmbH is a highly specialized company with enormous experience, competitive products and good order books," emphasized Laboga. "In this respect, I see good prospects for a sustainable reorganization of business operations." Havelländische Zink Druckguss GmbH & Co. KG was founded in 1991 and manufactures components for various fields of application using zinc die casting. The annual turnover of the company was last at approx. 20 million euros.


Immediately after his appointment last Thursday, Laboga has traveled to the company's headquarters and entered into discussions with management to get a first-hand picture of the situation. In addition, the provisional insolvency administrator began talks with suppliers and customers to secure the continuation of the business. Laboga: "All partners are very professional with the situation and HZD in this difficult time." In the coming weeks, Laboga will review the available remedial options and take appropriate action.

The provisional insolvency administrator has already informed about 120 employees about the state of affairs and the next steps. Employees wages are secured for three months. "The staff has responded well and are still committed to the cause," added Laboga.

Source: https://app.insolvenz-portal.de/

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