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The insolvency administrator Mr Michael Pluta managed to find a long-term solution for MAAS Profile GmbH. MAAS Profilzentrum GmbH, a company newly founded by the former managing director Mr Wolfgang Maas, has taken over the long-established company with effect from 15 September 2018 as part of an asset transfer. The purchase agreement signed by the parties concerned is subject to the approval of the creditors’ assembly. This means that 110 jobs will be saved.
It has been agreed that the purchase price will not be published. Business operations will be continued without any interruptions. The company, which was founded in 1992, manufactures high-quality metal profiles for roofs and façades. “We are delighted to have now found a forward-looking, long-term solution for MAAS Profile as well. The staff were highly motivated during the proceedings and have pulled together with us.” The efforts made in the past weeks have been worthwhile,” said Mr Michael Pluta.
The Local Court of Heilbronn had opened insolvency proceedings on 1 November 2017 and appointed Mr Michael Pluta as the administrator. Since then, he has been continuing business operations together with his team. Even during the insolvency proceedings, the company based in llshofen near Schwäbisch Hall generated new orders and continued to hire qualified staff.
Apart from concentrating on profitable orders, the team streamlined the companies’ product portfolio and optimised their product concept. The PLUTA restructuring team includes the business management experts Mr Reinhard Wünsch and Ms Martina Hengartner as well as the restructuring manager Mr Helmuth Rauscher.
Michael Pluta’s team also succeeded in finding a long-term solution for BEMO Systems Engineering GmbH, also a member of the Maas Group, with effect from 1 January 2018. Moreover, the restructuring expert sold the two affiliates of BEMO Systems Engineering not affected by insolvency: BEMO Project Engineering UK Ltd in Great Britain and BEMO Sistemleri San. Ve Tic. Ltd. Sti in Turkey. A solution was also found for MAAS Baustoffe GmbH, a further member of the Maas Group, in spring 2018. Mr Michael Pluta oversaw the debtor-in-possession proceedings for this company in his role as insolvency monitor.