Another milestone reached for Ostguss Group – Foundry Alliance also takes over Spremberg site

Due to numerous macroeconomic challenges, MGF Metallguss Finsterwalde GmbH, founded in 2011 and with a total of approx. 153 employees, had to file for insolvency at the Cottbus District Court in August 2022. Lawyer Thomas Krafft (Degen Krafft Barth) was appointed as the provisional insolvency administrator. The insolvency proceedings were opened on 01.12.2022 and the business operations of the three locations were continued even during the opened insolvency proceedings with the aim of restructuring the company. Centuros exclusively supports the insolvency administrator Thomas Krafft within the framework of a structured M&A process.

Now another success can be reported with the result of saving almost 50 of the 153 jobs of MGF Finsterwalde at the Spremberg site as part of an asset deal. The buyer, Foundry Alliance, is thus expanding its own business operations with the acquisition of a further foundry and will thus be represented with around 7 locations in Germany from 1 April.

We are pleased that we were able to support the insolvency administrator and Metallguss Finsterwalde GmbH in their search for an investor and wish the purchaser and the acquired employees every success for the future.