After filing preliminary insolvency proceedings due to encumbering one-off factors in December 2012, Willi Stürtz Maschinenbau has now been taken over by an investment consortium of experienced industrial experts.
With effect from 1 March 2013 the operating activities of Willi Stürtz Maschinenbau GmbH (“Stürtz”) has been taken over by an investment consortium of experienced industrial experts from a family-owned investment company. In December 2012 Stürtz filed for preliminary insolvency proceedings due to encumbering one-off factors.
The investors involved are people with extensive industrial experience and investment strategies that are geared to long-term sustainability. The company will continue to run under the name Stürtz Maschinenbau GmbH (“Stürtz Maschinenbau”) with the involvement of Karl-Heinz Stürtz, the previous principal shareholder of the company.
The transfer comprises the business establishment with its respective assets including the land and buildings at the headquarters in Neustadt/Wied-Rott. Part of the acquisition will include the US subsidiary, Stürtz Machinery, Inc., based in Twinsburg, Ohio. An agreement to this effect was signed with the insolvency administrator, Jens Lieser, on 6 March.
A result that deserves emphasis is that the jobs of 90% of the workforce (135 employees) including all 20 trainees have been maintained.
The purchasing party will successfully continue to develop Stürtz Maschinenbau based on market-leading products and leading technology.