Part of Ostguss Group already saved – Foundry Alliance takes over Freiberg site

MGF Metallguss Finsterwalde GmbH, founded in Finsterwalde in 2011, acquired further insolvent foundries as part of its steady growth and managed them under the brand name “Ostguss Gruppe”. The company employs a total of around 153 people at its Finsterwalde, Spremberg and Freiberg sites.
Due to rising energy and raw material prices, the company had to file for insolvency with the Cottbus Local Court in August 2022. Attorney Thomas Krafft (Degen Krafft Barth) was appointed as provisional insolvency administrator. The insolvency proceedings were opened on 01.12.2022 and the business operations of the three locations will continue even in the opened insolvency proceedings with the objective of restructuring the company. Centuros exclusively supports the insolvency administrator Thomas Krafft within the framework of a structured M&A process. As a result of this process, a first success has been achieved.
Foundry Alliance GmbH, a foundry company with 5 locations in Germany, has taken over the business operations of the Freiberg location as of December 1, 2022 as part of an asset deal.This has secured the continued existence of the Freiberg location of the Ostguss group of companies.

We are pleased to have been able to support the insolvency administrator and Metallguss Finsterwalde GmbH in their search for investors and wish the purchaser and the employees taken over every success for the future.