2024-05-13 11:51:53
After more than 120 years, the Sachsen Guss foundry is insolvent. This is how things continue for the time being for the approximately 800 employees.
The future of around 800 employees in the Chemnitz region is currently uncertain because the foundry Sachsen Guss GmbH is insolvent. The company’s history goes back more than a century. But now the traditional company is confronted with serious financial problems.
A protective shield procedure is intended to enable the company to regroup and stabilize. This was reported by Mitteldeutscher Rundfunk (MDR). During the insolvency process, a neutral administrator is appointed to monitor the restructuring and ensure the interests of the creditors. Despite the proceedings, management remains responsible for business decisions.
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Multiple crises at the same time lead to stress
Within the next three months, the company aims to work with consultants to develop a comprehensive restructuring plan. Meanwhile, foundry operations continue to run normally. The company’s problems were caused, on the one hand, by the high raw material and energy prices and, on the other hand, by the collapse of the wind energy market.
Sachsen Guss GmbH was founded in 1898 and offers molds for machines – in recent years especially for parts for wind turbines.