Wartburg district in an alarm mood: AE Group before the end - 600 jobs at risk!

Wartburg district in an alarm mood: AE Group before the end - 600 jobs at risk!

Wartburgkreis, Deutschland - In the Thuringian industry, AE Group, an aluminum die-cast manufacturer with its headquarters in the Wartburg district, has gone through an extremely turbulent fate in the past few months. Once again, the company, which comes from the car supplier industry, is on the end. As Thuringia24 reports, the situation is alarming in view of the ongoing insolvency proceedings, which has been ongoing for over a year. A good 600 employees who are concerned about their professional future look forward to the current developments.

The AE Group recently registered bankruptcy in self -administration, which means that the previous management, under the supervision of an external renovation consultant, may continue to do business. The managing director has grew in his confidence over the past few months, but now the glimmer of hope seems to disappear. Veit Matthauer, spokesman for the insolvency administrator, shows: "It doesn't look good".

difficult framework conditions

The problems of the AE Group are deeply rooted and not only concern the loss of important orders, such as Scania. The financial situation is also significantly stressed by price increases on the raw material and energy markets and the high inflation. These circumstances have greatly depressed the company's profitability. In addition, the change of shareholders in February 2024, when the Munich Alutech Holding took over the company, did not turn out to be a simple panacea. This situation shows that even experienced management change alone is not enough to cope with the crisis.

The Thuringian state government and the Ministries of Economics offer support to support the employees concerned and the company. Mayor Daniel Steffan is in constant contact with the management to prevent a social clear cutting and mass sets. Talks with potential investors are running, but the time could work against the company.

The human aspect

The concerns of the employees are noticeable in the region. Such a situation is not only an economic challenge, but also has great social consequences. It is considered how to support the workers concerned, for example through mediations or training opportunities. The goal is clear: nobody should fall by the wayside if the situation does not turn to the good.

In our everyday life, it is always talked about how important stability is in the world of work. The two viewed insolvency firms, Grub Brugger and SGP Schneider Geiwitz, play a central role in dealing with the difficult location and are an integral part of the rescue plan for the AE Group. The company has already initiated a renovation concept with the aim of reducing debt and taking up new negotiations with important automobile manufacturers.

Currently it remains to be seen whether all efforts are sufficient to lead the traditional AE Group into a successful future. The next few weeks and months will be decisive. Therefore, the entire region remains in a tense expectation of how it will continue and whether the sheet can actually be turned.