Kautex Maschinenbau, a traditional Bonn company with intenational experience, declares Insolvency
Kautex Maschinenbau, a company specializing in the development and production of extrusion blow molding systems, has entered provisional self-administered insolvency for its German production site in Bonn since August 25, 2023. The company has stated that regular business operations will continue uninterrupted. The production facility in Shunde, China, remains unaffected. This step has been taken due to a multitude of external factors.
Since 2019, Kautex Maschinenbau Group has been undergoing a continuous transformation process aimed at realignment. This transformation was primarily a response to the changes in the automotive industry, including the disruptive shift from internal combustion engines to electric motors. Additional global events and market developments further accelerated this process.
The Kautex Maschinenbau Group has already successfully completed a significant portion of the initiated transformation process and has implemented measures with positive outcomes. A new corporate strategy was developed and globally implemented. Furthermore, a product initiative was launched, enabling Kautex to establish itself as one of the leaders in new market segments like industrial packaging and future mobility solutions. The company successfully harmonized its product portfolio and process expertise between the Bonn and Shunde locations in China.
Additionally, the Bonn facility has been evolving into an innovation and service hub with a connected production focus on sustainable high-end technologies.However, since the beginning, a multitude of external factors have posed challenges and delays to the transformation process. These include the global Covid-19 pandemic, the China lockdown, disruptions in global supply chains, and supply shortages, all of which have negatively impacted the realignment efforts. Challenges have been exacerbated by rising inflation-driven prices, political uncertainties such as Russia’s conflict with Ukraine, and a shortage of skilled professionals.
Julia Keller, CFO: “A structured M&A process has already been set up and intensive negotiations have been conducted with several potential investors. This process will continue and is currently ongoing.”
Here we can see many artciles corroborating the insolvency of this well known company.
