Investor takes over production site with 26 employees
Four weeks after opening of the insolvency proceedings at the Riehle Maschinenbau Gmbh from Aalen, Germany, the business starting from July 1st 2013 could be sold to the Bielefeld based HorstmannGroup. For the 26 employees working at the specialist for fryers, the insolvency proceedings which started in April 2013 came to a good end.
“With the HorstmannGroup, we are happy to have found an economically strong investor which is also experienced in the bakery sector”, says insolvency administrator Tibor Braun from Stuttgart, Germany.
Despite the difficult order situation in this time of the year, there never was a thought of giving up the company.
Immediately after the start of the insolvency proceedings end of May 2013, personnel adjustments were unavoidable: 14 Employees were set free. “This step has proven to be right. As a result, the company could carry on business cost-effectively”, so Braun. “Only in this position we were able to address potential investors”.
The HorstmannGroup is well experienced in the bakery sector. The WP BAKERYGROUP, which belongs to the HorstmannGroup, delivers machines and equipment for artisan and industrial bakery production for more than 100 years.
With this background, Riehle – with medium-sized machines and equipment - represents a perfect strategic addition. The product portfolio is completed downwards.
Even though the perspectives after opening of the insolvency proceedings were quite negative, it is especially pleasant that 26 employees could keep their jobs.
