Takeover of SHW CT in Königsbronn now completed

• Closing terms of the purchase agreement have been met
• Mr Marcus Katholing, Managing Director, and the PLUTA team are selling the casting company to a strategic investor

Good news for the Königsbronn plant of SHW Casting Technologies GmbH & Co. KG ‒ the terms of the purchase agreement have been met, which means that the agreement has come into effect and the process of selling the plant to the investor can be implemented according to plan. The real property and complete business operations together with 163 members of staff will be transferred to the investor with effect from 1 June 2018.

The purchase agreement was already signed by those responsible in April, but the takeover was subject to two conditions, including the conclusion of a company wage agreement with the trade union IG Metall. In future, the new company will operate under the name SHW High Precision Casting Technologies GmbH.

Mr Rainer J. Langnickel, Managing Partner of RMB, commented, “This is a good day for SHW CT in Königsbronn. I would like to thank everybody concerned for the constructive talks and the high level of acceptance. We will lead the company into a successful future.”

Mr Marcus Katholing, Managing Director, and the PLUTA team can now sell SHW Casting Technologies in Königsbronn to Rheinische Mittelstandsbeteiligungs GmbH (RMB). The trade union IG Metall, the works council and the members of staff voted in favour of the company’s new internal wage agreement. Prior to this, constructive talks had been held with IG Metall and the works council. Those of the employees who are members of the trade union IG Metall voted in favour of the company’s new internal wage agreement by a large majority.

“I am very glad indeed that the takeover can now be completed according to plan. This means that we have now reached our first goal. We are now aiming at finding a solution for SHW CT in Wasseralfingen and Machining Technologies in Königsbronn as well,” said the managing director Mr Marcus Katholing. The restructuring expert and the PLUTA team are therefore already involved in intensive talks with potential investors. Mr Marcus Katholing said, “We are under no pressure since operations are running very well. Orders are up by 30% year-on-year.”

Apart from Mr Katholing, PLUTA’s restructuring team for SHW Casting Technologies, headed by Mr Michael Pluta, also includes Mr Wolfgang Bernhardt and Mr Andreas Hummel. The medium-sized consulting company Ebner Stolz is monitoring the M&A process. The insolvency monitor is Prof Dr Martin Hörmann from the law firm anchor Rechtsanwälte. His role will be to support and oversee the debtor-in-possession proceedings.