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Manufacturing the largest calendar roller for approximately 8 years
Debtor-in-possession proceedings running well
Company’s order books are full
A special highlight took place at the Königsbronn plant of SHW Casting Technologies GmbH & Co. KG on Friday. The company poured 100 tons of molten iron into a mould at a temperature of 1,350 degrees in order to manufacture a roller body over 10 metres long. The last time a 105-ton casting was produced in the 13-metre-deep pit at the Königsbronn plant was approximately 8 years ago.
The process was carried out using a new, patented material called CDI (Chilled Ductile Iron). This material was developed by SHW CT. Following the casting process, the roller is about 12 metres long and weighs 100 tons. The cooling process takes about two weeks, and then the roller is cleaned, machined and subjected to various tests. By the time the roller can be used by the customer, a total of 650 individual parts will have been integrated. Following all the machining steps, the roller will weigh about 66 tons at delivery, be 10,150 millimetres long and have an external diameter of 1,425 millimetres. The surface hardness is between 550 and 580 HV (Vickers hardness). The finished roller will be used by a customer in Europe and will produce 2,000 metres of paper per minute. On average, one roller is in service for a period of between 20 and 30 years.
SHW Casting Technologies is the global market leader in the manufacture of paper machine components. There are only two companies in the world that can manufacture rollers of this size. One of them is the long-established company that is currently involved in debtor-in-possession proceedings.
Mr Marcus Katholing from PLUTA Management GmbH is acting as the Chief Restructuring Officer of SHW Casting Technologies. The restructuring expert says, “The SHW team is highly motivated. We are currently working at full capacity in the paper segment and are already making plans for 2018. However, we are also doing very good business in other segments. Our order books are full. These are the best conditions for a successful turnaround. And the customers have stayed loyal to us.”
The provisional insolvency monitor in the proceedings is Prof Dr Martin Hörmann from the law firm “anchor Rechtsanwälte”. His role will be to support and oversee the debtor-in-possession proceedings. Alongside Marcus Katholing, PLUTA’s restructuring team working with the SHW Casting Technologies Group includes Dr Matthias Lehr, Mr Andreas Hummel and Mr Simon Eickmann, and is headed by Mr Michael Pluta.
Information on the proceedings
Debtor-in-possession proceedings are in-court restructuring proceedings to rescue and rehabilitate financially distressed companies. The company is allowed to manage the restructuring process itself, supervised by an insolvency monitor and generally supported by restructuring experts with relevant experience in this field. The preliminary proceedings, that last between 2 and 3 months, are followed by the main proceedings, in the course of which the creditors can file their claims.
About the company
SHW Casting Technologies was created from the foundry activities of Schwäbische HüttenWerke (“Swabian Smelting Works”). The roots of iron production date back to 1365, when monks in the Swabian Alb region began extracting iron from ore. Today, the Group comprises the holding company CT Beteiligung GmbH & Co. KG and the three operational businesses SHW Casting Technologies GmbH & Co. KG Werk Wasseralfingen, SHW Casting Technologies GmbH & Co. KG Werk Königsbronn and Machining Technologies GmbH & Co. KG Werk Königsbronn. At its two last-mentioned plants, the Group produces engine blocks, papermaking rolls and other castings, as well as components for use in energy generation.