Rescue of Ostguss Group completed – takeover of employees secured

As of 01.07.2023, the last of the three sites of the Ostguss Group was successfully transferred to a new investor. After nine months of challenging investor search with difficult negotiations, the rescue of the Ostgruppe including the takeover of the employees is guaranteed. We would like to thank all parties involved for their excellent support and cooperation. After a challenging second and third quarter in 2022, Ostguss Group had to file for insolvency at the Cottbus District Court in August of the same year. Attorney Thomas Krafft (Degen Krafft Barth) was appointed as provisional insolvency administrator. The insolvency proceedings were opened on 01.12.2022, with the simultaneous continuation of all business operations at all three locations with the aim of restructuring the company. Centuros exclusively supported the insolvency administrator Thomas Krafft within the framework of a structured M&A process.

Following the successful sales of the Freiberg and Spremberg sites to Foundry Alliance, the last of the three sites has now been handed over. With the American private equity Amerinac, a new owner with restructuring and industrial experience comes to Finsterwalde. With various industrial holdings in the AMERICAS, mainly in the heavy industry and metal casting sectors, Amerinac was found to be the ideal investor to continue the business operations. The nearly 70 employees were taken over.
We are pleased to have been able to support the insolvency administrator and the Ostguss Group in their search for an investor and wish the purchasers and the employees every success for the future.

Degen Krafft Barth

Thomas Krafft (Insolvency Administrator)

Centuros

Ruprecht Bürgers (Manager)

Marc Mohnsen (Senior Consultant)