The process of finding a new investor in the bankruptcy auto parts supplier Allgaier is scheduled to start in August. That said the provisional insolvency administrator Michael Pluta (73) of the German Press Agency in Stuttgart. Some investors have already contacted him, said Pluta, who is responsible for Allgaier Automotive GmbH. With around 1,200 employees, this is the largest company within the group.
There is a repair backlog and an investment backlog. “We can clear the repair backlog. The investment backlog cannot be cleared in the first few months,” says Pluta. It probably needs a new investor.
“I’m actually positive about the future of Allgaier,” said Pluta. The company from Uhingen (Göppingen district) manufactures body parts, so it doesn’t matter which engines are in the cars. “This could make Allgaier interesting for companies that are currently still heavily dependent on the combustion engine,” said Pluta.
“When we come into a company, there is usually a great deal of uncertainty and there is no longer any real order,” said Pluta. It was particularly bad with Allgaier. But: “After four weeks we got into very calm waters.” The supply chains have been restarted. “That means we paid the freight forwarders so that the car manufacturers can be supplied and the lines don’t stand still.” The customers would be supplied. “Now we’re going to do the calculations and check whether the company’s prices are reasonable. Probably not,” said Pluta.
Allgaier was taken over by the Chinese Westron Group last year. Before that, the family of the former employer president Dieter Hundt (84) was the main shareholder. As recently as November, Allgaier had reported that Westron’s entry had restored financial stability. According to Allgaier, it has around 1,700 employees worldwide.