Preliminary insolvency proceedings of the German Gehring companies
by Hans Diederichs
Ability to supply remains, advanced diversification strengthens prospects
The Gehring companies in Germany have filed for insolvency proceedings with the Stuttgart Local Court. This affects the locations in Ostfildern, Naumburg and Wernigerode with a total of 624 employees. Wages and salaries have been secured in the course of the provisional insolvency proceedings. Business operations will be continued without restrictions, and delivery capacity will continue to be fully available for existing and new orders. Dr. Tibor Braun has been appointed as provisional insolvency administrator.
In recent years, the Gehring Group's situation has been marked by the transformation in the automotive industry. The declining development in the business with production technology for internal combustion engines and the drastic economic effects of the COVID-19 pandemic were addressed early and consistently through structural adjustments. The development and introduction of new products and services, especially in the areas of e-mobility, laser technology and digitization, enabled new business areas to be opened up. Against this background, the management will now develop a positive repositioning for the future together with the insolvency administrator within the framework of the preliminary insolvency proceedings.
Source and photo: Gehring Group