The lettering of the plant manufacturer Eisenmann can be seen in front of the company headquarters. (picture alliance / dpa)
No investor can be found that wants to take over the core business – the construction of paint shops - of the insolvent plant manufacturer Eisenmann, which is based in Böblingen in the southern German state of Baden-Württemberg. Thus, a massive reduction in personnel is now unavoidable, insolvency administrator Joachim Exner announced on Monday. This would affect around 650 employees, a large proportion but not all of the business unit's workforce. They should be able to transfer to a qualification company for at least three months. At the same time Exner said he will continue to try to find an investor for at least part of the core business.
Four subsidiaries and divisions have already been sold, and talks are currently underway for the sale of others. The plan to sell Eisenmann only as a whole had already been abandoned in May.
"The course of the sales process of the Eisenmann Group has an almost tragic dimension," Exner said on Monday. By mid-February, all contracts and the purchase price for an investor solution for the entire group had already been negotiated. But then the coronavirus pandemic caused the market to collapse almost completely. Currently, no potential investor is assuming that the automotive industry will need new paint shops on a significant scale in the coming years.
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