After financial distress, the Babcock Foundry in Oberhausen has decided filed for bankruptcy. Over 110 employees have been affected and will receiving insolvency payment. Stakeholders want to do everything to save the traditional company.
In the workforce, "the mood is obviously subdued," said chairman of the union, Andreas Hahn. "But I am optimistic that we will find a solution." The staff is ready to help their utmost to save the company. "What we can do, we do it."
The District Court of Duisburg has appointed Duisburg Attorney Sebastian Henneke to serve as provisional liquidator by a court notice. The Babcock Foundry insolvency follows 10 years after the spectacular bankruptcy of it’s daughter company Babcock Borsig in Oberhausen, a manufacturer of machinery and equipment.
The Babcock Foundry specializes in the production of complex, sophisticated hand-molded castings weighing up to 40 tons. The annual output amounts to 8000 tons. The company manufactures as compressor housings for compressors, gearboxes for motion control or rotor hubs for wind turbines.