After filing preliminary insolvency proceedings due to encumbering one-off factors in December 2012, Willi Stürtz Maschinenbau has now been taken over by an investment consortium of experienced industrial experts.
The investors involved are people with extensive industrial experience and investment strategies that are geared to long-term sustainability. The company will continue to run under the name Stürtz Maschinenbau GmbH (“Stürtz Maschinenbau”) with the involvement of Karl-Heinz Stürtz, the previous principal shareholder of the company.
The transfer comprises the business establishment with its respective assets including the land and buildings at the headquarters in Neustadt/Wied-Rott. Part of the acquisition will include the US subsidiary, Stürtz Machinery, Inc., based in Twinsburg, Ohio. An agreement to this effect was signed with the insolvency administrator, Jens Lieser, on 6 March.
A result that deserves emphasis is that the jobs of 90% of the workforce (135 employees) including all 20 trainees have been maintained.
The purchasing party will successfully continue to develop Stürtz Maschinenbau based on market-leading products and leading technology.