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Future for SAMAG: Austrian saves Thuringian mechanical engineers
Thuringian mechanical engineering company SAMAG is about to be taken over by Wei Wang. 40 jobs are lost, but production remains in Thuringia.
Future for SAMAG: Austrian saves Thuringian mechanical engineers
There is exciting news in the mechanical engineering industry in Thuringia. How thuringia24 reports, SAMAG Machine Tools GmbH in Saalfeld/Saale has found a ray of hope through an agreement with the Austrian entrepreneur Wei Wang. The company, which has been fighting for survival since January 2025, signed the contracts for a takeover on Wednesday. Creditors have already agreed that business operations could continue under the new name SAMAG Werkzeugmaschinen GmbH at the beginning of October 2025. This is not only a positive sign for the workforce, but also for the entire region.
The background to this rescue operation is a preliminary legal procedure in self-administration that has been running since January 29, 2025. Due to stagnating orders and increased material and energy costs, the management, led by Martin Hüttmann, was forced to take this step. Tiefenbacher insolvency administration emphasizes that operational business can continue during the process and that employees are informed about the current situation and provide support.
Personnel changes and location guarantee
SAMAG currently employs around 90 people, but it is expected that around 50 of them will be able to stay after the takeover. Around 40 jobs will be lost because the order utilization does not allow this. An agreement has already been reached between the insolvency administrator and the works council to create a social plan for the affected employees. Wei Wang has also promised a five-year location guarantee for Thuringia, which is a relief for many.
Wang’s plan to open SAMAG to the Chinese market is particularly exciting. So far, business has been directed more towards European customers, but the new strategic direction could bring a breath of fresh air into the corporate culture. KPB Inso notes that SAMAG's history, which stretches back over 150 years, will continue to be actively pursued in a global sales network.
The managing director, Martin Hüttmann, emphasizes the need to promote the stability and sustainable restructuring of the company. The commitment of an experienced restructuring team, led by lawyer Thorsten Springstub, is of great importance. This is supplemented by the services of ABG Consulting-Partner GmbH & Co. KG, which specializes in commercial support in crisis situations.
Until the restructuring process is fully completed, the company will continue to work on setting the course for a successful future. With these developments, SAMAG not only signals hope for itself, but could also be a positive signal for the entire mechanical engineering industry in the region.