Insolvency Die Casting Foundry - Business Operations Continue After Insolvency
The German Company Heuschkel Druckguß GmbH filed for insolvency proceedings at the District Court of Nuremberg due to imminent insolvency. The business operations of the aluminum and zinc die casting foundry will continue without restrictions even after the insolvency application.
The wages and salaries of the approximately 90 employees are secured by the insolvency money up to and including April. As the cause of insolvency, the company cited a significant drop in orders from a major customer which could not be offset by the acquisition of new customers.
Böhm, lawyer at Schultze & Braun is currently obtaining a picture of the economic situation of the company. In a meeting, the provisional insolvency administrator informed the employees about the proceedings. "The employees took the news very calmly and clearly signalled that they are committed to the company. Together with the management, we will work on restructuring the company in the coming weeks. The goal is to preserve the company and as many jobs as possible."
Heuschkel Druckguss GmbH, based in Nuremberg, was founded in 1911 by Max Heuschkel as only the fourth die casting foundry in the former Empire. Today the company is a recognized specialist for precision die cast parts made of aluminum and zinc. With 90 employees, Heuschkel Druckguss GmbH achieves a turnover of around 12 million euros per year.