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Insolvency administrator Mr. Michael Pluta has succeeded in selling AdMould Werkzeugbau GmbH. The buyer is the Austrian POLYTEC GROUP, the headquarters of the listed POLYTEC HOLDING AG being based in Hörsching. The purchase contract has already been certified by a notary public, and the acquisition will be effective from 1 July 2015. The parties have agreed to maintain confidentiality on the purchase price.
A subsidiary of the POLYTEC GROUP will take on all the 26 employees and 2 trainees. Restructuring expert Mr. Michael Pluta explained, “We started at AdMould early January without any significant orders and, in the meantime, have even managed to acquire a new customer during insolvency. In the past few months, we have successfully restructured the company and constantly increased capacity utilisation. By selling the enterprise, we have now achieved the best solution for everyone concerned.”
AdMould Werkzeugbau GmbH from Thannhausen had to declare bankruptcy at the end of January 2015. On 27 January 2015, the Local Court of Neu-Ulm ordered the preliminary insolvency administration of the company. The decision to open insolvency proceedings was passed on 30 March, and Mr. Michael Pluta was appointed as the insolvency administrator.
The restructuring expert continued business operations successfully and implemented the necessary restructuring measures. Moreover, Pluta instigated the process of finding an investor and negotiated with several interested parties. “POLYTEC came up with the best offer and therefore secured the deal. This means that we achieved an excellent solution not only for the staff, but also for the creditors.”
Mr. Markus Huemer, Deputy Chairman and COO of POLYTEC HOLDING AG, explained: “Although the scale of the acquisition was of minor significance in terms of turnover, a major aspect of our strategy is to increase the depth of added value and to develop more and more complex and sophisticated product solutions. As a result, the protection of know-how will also gain considerable significance in the area of tool conception. The existing tool capacities cannot meet this increase in requirements completely. Thanks to this takeover, we have acquired above all experienced staff and, as a result, considerably strengthened our internal resources. These additional capacities will support our strategic developments.”
The POLYTEC GROUP is a leading developer and manufacturer of high quality plastic parts, with 24 sites and more than 4,200 employees worldwide. In the fiscal year 2014, the turnover of the Group grew by 3.1% to EUR 491.3 million. The Austrian company is a one-stop provider in the area of injection moulding, a specialist for fibre-reinforced plastics as well as a producer of original accessories made of plastic and stainless steel. In addition, POLYTEC is a competent partner for industrial solutions made of polyurethane and also offers the systems required for manufacturing such solutions. POLYTEC’s customers include renowned international brands in the automobile industry. However, the company is also supplying more and more markets outside this sector and has been listed on the Vienna Stock Exchange since 2006.