2024-07-03 00:01:55
Shortly earlier than its one hundredth anniversary, a standard German firm can breathe a sigh of reduction: Umeta was saved from chapter. That is how issues will proceed.
The normal Bielefeld firm Umeta, often called the world market chief for grease nipples, was saved after a “spectacular insolvency”. On the finish of 2023, the corporate filed for insolvency – shortly earlier than its one hundredth anniversary. Now the insolvency administrator is reporting a uncommon comfortable ending: a younger, family-run firm from Lippstadt is taking on the enterprise. That is reported by the “Westfälische Anzeiger”.
On the finish of final 12 months, Umeta was now not in a position to pay its workers’ wages and salaries. In accordance with insolvency administrator Yorck Tilman Streitbörger, this was because of the sharp decline in incoming orders. Umeta manufactures, amongst different issues, grease nipples for machines and techniques and claims to be the world market chief on this space.
“The managing director Frank Maser actually tried all the things to avert insolvency,” Streitbörger advised the “Westfälischer Anzeiger”. After the insolvency proceedings started, manufacturing initially continued.
His confidence was justified: on the one hand, Umeta was in a position to proceed its enterprise efficiently over the previous six months, and on the opposite, the family-run firm Wiggentech from Lippstadt purchased the standard firm. “The transfer-based restructuring signifies that 79 of the unique 87 jobs at Umeta might be retained. A holding firm has been set as much as care for workers who’ve left,” says Streitbörger.
Michael Wiggen, proprietor and managing director of Wiggentech, will take over the administration of Umeta. “All the crew welcomed us with open arms. We’re already trying ahead to celebrating Umeta’s one hundredth anniversary collectively in two years,” he says.
The present managing director, Frank Maser, grandson of the corporate founder, will in future be chargeable for the distribution of Umeta merchandise in North America as an exterior contractual associate. Umeta of America was not affected by the insolvency of the German mum or dad firm.