Industry - Aluminum casting specialist HAL-Guss files for insolvency
The aluminum casting specialist HAL-Guss has filed for insolvency. All three companies of the group in Plauen, Bitterfeld and Leipzig are affected, as the provisional insolvency administrator, the law firm Danko, announced on Tuesday. Business operations will therefore continue in full at all HAL Group locations. The wages and salaries of around 120 employees are secured by the insolvency substitute benefits.
The insolvency administrator wants to gain an overview of the economic situation and is examining restructuring options. An investor solution or an agreement with the creditors are therefore conceivable.
Aluminum parts are produced by casting in Bitterfeld, while the raw parts are processed in Plauen. Structural, engine and transmission parts for the automotive and commercial vehicle industry are manufactured. The Group's administrative functions are bundled at the Leipzig site. The Group's most recent annual turnover amounted to around 25 million euros.
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The aluminum casting company, HAL-Guss, hailing from Saxony, has faced financial difficulties and filed for insolvency. This impacted their operations in Plauen, Bitterfeld, and Leipzig, three of their locations in Saxony-Anhalt. The metal industry in Plauen is where bitter field aluminum parts are produced, a crucial component for the automotive and commercial vehicle industry. Despite the insolvency, the group's employees can rely on insolvency substitute benefits to secure their wages and salaries.
Source: www.stern.de
