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The RPM Rüster Group filed an application for the opening of insolvency proceedings on 1 October 2020. Following this, the Local Court of Göppingen ordered provisional insolvency proceedings and appointed Mr Fritz Zanker from PLUTA Rechtsanwalts GmbH as provisional administrator for Rüster Präzisionstechnik GmbH & Co. KG.
Sister company RPM Rüster Technologie GmbH is also part of the Rüster Group. It, too, has filed for insolvency. This company works closely with Rüster Präzisionstechnik. The Local Court of Göppingen ordered provisional insolvency proceedings to be opened for it as well. PLUTA restructuring expert Mr Steffen Beck has been appointed provisional administrator for the company.
The mechanical engineering firm had to file for insolvency due to insufficient capacity utilisation and resulting liquidity problems. The Rüster Group offers a wide range of services in the area of forming technology and precision machining. Many of its customers are in the automotive sector. There has been significant pressure on costs and prices in this industry for some years now. Political developments and the difficult global economic situation pose major challenges for the sector as well. Although the RPM Rüster Group adjusted production a few months ago, this was only able to offset the drop in sales for a short period.
PLUTA restructuring experts get an overview
“We intend to gain a comprehensive overview of the group’s financial situation. The long-standing company has a well-qualified workforce and good products. The business will continue operating without restrictions – while observing the appropriate hygiene requirements, of course. All customers will receive their deliveries as usual,” said PLUTA restructuring expert Mr Zanker.
The provisional insolvency administrator, together with management and the PLUTA team, which also includes Mr Stefan Warmuth, is currently holding discussions with business partners and suppliers. The Group’s some 80 employees were also informed shortly after the application was filed. Their salaries are guaranteed for a period of three months thanks to specific substitute benefits provided under German insolvency law. “The current situation is challenging for our company. Together with our motivated team, we will do our best to support the provisional insolvency administrator,” added management.
The Rüster Group’s origins date back to 1949, when it was founded as a stamping operation for manufacturing plates for the textile machinery industry. Given the high technical demands, the business switched to precision stamping technology in the seventies. The company then pivoted production to new customers and began supplying the automotive sector, mainly for diesel injection pumps. With its highly qualified workforce, it offers a wide range of services for all kinds of applications today.