New momentum for Samag: Chinese investor secures jobs!

New momentum for Samag: Chinese investor secures jobs!

In Saalfeld, the mechanical engineering company Samag makes headlines because a new investor has found itself. The Austrian entrepreneur Wei Wang, son of Chinese parents, wants to lead the company's fortunes and is increasingly oriented to the Chinese market. With his experience in metal processing and an existing network of potential customers in China, Wang has ambitious plans for Samag, which will in future operate under the name Samag Werkzeugmaschinen GmbH.

The latest bankruptcy proceedings in Samag, which opened at the beginning of May 2025, was a reason for many employees and local companies. Thanks to an agreement with the main customer, an impending operating closure could be averted. The insolvency administrator Marcello di Stefano has already signed contracts for takeover by Wang and the creditors have agreed to sell. The transfer of business is planned for the beginning of October 2025, and Wang guarantees a location securing for at least five years.

Future prospects and employee crossing

The company can breathe a sigh of relief with these developments. Around 50 of the almost 90 remaining employees are taken over in the new company, which offers employees a certain level of security. A compensation for interests and a social plan have already been agreed for the approximately 40 employees who cannot be adopted. This shows that despite the difficult situation of the company, the last word has not yet been spoken.

Samag's financial situation has been tense in recent months. The last reported annual turnover was around 14 million euros, but the strong declines in the orders finally led to the bankruptcy registration at the end of January. According to the insolvency administrator, the company continues the business until the handover with the support of managing director Martin Hüttmann and interim manager Lars Jörges.

Bankruptcies in Germany and their consequences

The situation at Samag is not an isolated case, as the current bankruptcy figures in Germany show. In 2023 there were around 110,200 bankruptcies, 31,000 fewer than ten years earlier. Companies in the service sector are particularly affected. Mechanical engineering, which also includes Samag, has always had to fight challenges in the past, which endangers the stability of companies.

With Wang's approach of developing Samag as an independent company while seeking access to the booming Chinese market, the company could not only overcome bankruptcy but also reach new heights. Thanks to the fresh wind and the clear vision of the new investor, Samag could soon be back on the road to success.

These are exciting times for everyone involved in the Saalfeld area, and one can only hope that the new course of Wei Wang will bear fruit.