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Maschinenbau und Plastverarbeitung GmbH (MPS) has made an application to the Local Court of Halle (Saale) for insolvency proceedings to be opened for their assets. Following the decision taken on the previous day, the Local Court ordered preliminary insolvency administration and appointed Dr. Stephan Thiemann from PLUTA Rechtsanwalts GmbH as the temporary insolvency administrator. The mechanical engineering company receives legal advice from the attorney Mr. Thomas Mulansky from the KPMG Rechtsanwaltsgesellschaft mbH, who will work closely together with the temporary insolvency administrator.
The Sangerhausen-based company MPS operates not only in the mechanical engineering and steel construction branch, but also in plastics processing sector. The company currently has a workforce of 56 employees and 10 temporary members of staff.
The PLUTA-attorney, Dr. Stephan Thiemann, will now examine the economic situation of the company and the chances of a turnaround. Business operations are to be continued initially. Today he gave employees information on the current situation at a staff meeting. Moreover, the option of pre-financing insolvency substitute benefits is currently being checked so that employees can be assured that their wages and salaries will be paid.
Following the reunification of Germany, MPS was privatised and renamed. The company can look back on a history of more than 25 years and is well known in the sector for its high level of quality. In the mechanical engineering and steel construction segment, the company specialises in the manufacture of welded steel structures for the plastics processing machinery industry.