As of: March 29, 2024, 3:47 p.m
By: Mark Stoffers
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The insolvency administrator sees difficult times ahead for the traditional Bavarian company. Economics Minister Hubert Aiwanger is also worried about the region and its employees after the renewed bankruptcy. © Stefan_Kiefer /picture-alliance/dpa
Since 1954, Rohrwerk Maxhütte GmbH has been an integral part of Bavaria. Now the traditional company had to file for bankruptcy again.
Suzbach-Rosenberg – The wave of bankruptcies in Germany is once again reaching Bavaria. After the earthquake in the construction industry that caused a large German real estate company to file for bankruptcy, a traditional company in the Free State is now insolvent again. The shock came shortly before Easter. And once again the 320 employees of Rohrwerks Maxhütte GmbH are forced to worry about their jobs.
The automotive industry is one of the pipe manufacturer's most important business areas. But the traditional Bavarian company's products are also used in industry - including in mechanical engineering, mining, bridges and buildings. In addition, boiler tubes from the Maxhütte pipeworks are used worldwide in boiler, container and pipeline construction.
Traditional company in Bavaria is insolvent: Rohrwerk Maxhütte files for insolvency again
In a press release on the traditional Bavarian company's application for insolvency, the SRI Rechtsanwaltsgesellschaft provided information about the reasons for the renewed insolvency. The letter states that the step had to be taken because of unsatisfactory capacity utilization and the threat of a major customer leaving Rohrwerk.
“After the successful restructuring that was transferred to the Mertex Group two years ago, the traditional company initially had to struggle with start-up losses,” according to the press release. However, the management managed to win a major customer and thus stabilize the company. This now looks much more difficult with the renewed bankruptcy. Rohrwerk could therefore suffer a similar fate to an insolvent giant from another industry.
Traditional company Rohrwerk Maxhütte files for bankruptcy again: insolvency administrator faces a herculean task
“The fact that the step into insolvency was now unavoidable is very bitter both for the region and for the workforce,” explained the provisional insolvency administrator Jochen Zaremba, appointed by the Amberg district court, in the
Mittelbayerische Zeitung
about the effects of the traditional company’s renewed insolvency. which is similarly affected by a large fashion brand.
The lawyer is one of the most experienced restructuring experts in Bavaria, but is apparently faced with a Herculean task of getting Rohrwerk Maxhütte GmbH back on its feet. “The conditions for a transferring restructuring are significantly worse this time,” said Zaremba, expressing skepticism about the future of the company and its workforce. “After the last insolvency the property and production facilities were transferred to other companies that were not formally affected by the insolvency, the attractiveness of Rohrwerk Maxhütte GmbH for potential investors is shrinking.”
Traditional company in Bavaria is insolvent: Aiwanger sees a serious “blow for the entire region”
The Bavarian Minister of Economic Affairs, Hubert Aiwanger, was not at all unaffected by the company's renewed insolvency. “Today’s news is a serious blow for the employees and the entire region,” said the head of the Free Voters. “The officials in the Ministry of Economic Affairs and I have been in constant contact with the company for several years in order to find a viable future solution for the Maxhütte pipe plant. “Unfortunately, we are not allowed to help so easily with taxpayers’ money,” said the minister in a press release from the Bavarian State Ministry for Economic Affairs, Regional Development and Energy.
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“The pipe mill has excellent products, but there is the problem of a difficult market environment. My thoughts are with the highly motivated and qualified employees and their families who are confronted with an uncertain future prospects,” the message continues. “I still have fond memories of the conversations I had with trainees during my visit to the company who were passionate about their company and their job. I hope there is still a solution.”
Traditional Bavarian company is insolvent: Rohrwerk Maxhütte was founded in 1954
Rohrwerk Maxhütte was founded in 1954. It has been an independent company since 2003. In 2021, the company initiated restructuring proceedings under self-administration. In 2022, the British Mertex Group took over the pipe factory before problems arose again in the traditional company in 2023.