BORSCHEID + WENIG
German automotive supplier slips into provisional insolvency / Business operations continue
Manufactured by 2k injection moulding: Air intake element for the automotive industry (Photo: Borscheid + Wenig)
First the pandemic, then the automotive industry’s production problems caused by shortages in semiconductors, and finally the exploding energy and feedstock costs as a result of the Ukraine war – for Borscheid + Wenig (Diedorf, Germany; www.borscheid-wenig.com), the rapid succession of several crises became too much to bear. Ultimately, the automotive supplier has filed for insolvency proceedings to restructure itself. On 25 July 2022, Augsburg local court appointed Joachim Exner of the law firm Dr. Beck und Partner (Nuremberg, Germany; www.ra-dr-beck.de) as the provisional insolvency administrator.

Borscheid + Wenig manufactures plastic components for the automotive industry. Products include engine compartment covers, air pipes, air intake systems, coverings for vehicle interiors and handle modules. The company also supplies customers from other industries such as mechanical engineering, the furniture industry and the E&E sector. The range of services includes 1K and 2K injection moulding on machines with clamping forces from 3,540 kN to 15,000 kN, the application of polyurethane sealing foams, joining, pressing, punching, milling, pad printing and component assembly. With more than 300 employees worldwide, the company last generated sales of around EUR 33 mn.

Related: Car component suppliers face major sector shifts

Exner, a specialist in the restructuring of companies in the automotive sector, considers Borscheid + Wenig to be well positioned. “Therefore, I think there’s a good chance the company will stay in business,” he says. “Business operations are continuing as normal during the preliminary insolvency proceedings. All orders will be executed as planned and at the usual level of quality.” Employees’ wages and salaries are safe until the end of September 2022 thanks to insolvency benefits. Suppliers and customers have already pledged their support, as shareholders Norbert Borscheid and Carlo Wenig emphasised.
03.08.2022 Plasteurope.com [250847-0]
Published on 03.08.2022
Borscheid + Wenig: Automobilzulieferer schlittert in die vorläufige InsolvenzGerman version of this article...

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