The car industry crisis
Auto supplier AE closes locations – 650 jobs affected
After a failed renovation, hundreds of employees lose their job at the AE Group in Thuringia and Hesse. Why there was no solution despite months of search for investors.
The automotive supplier AE Group closes its locations in Gerstungen and Hessische Nentershausen in Thuringia at the end of the year. According to the company, around 650 employees are affected – 549 of them in Thuringia and 134 in Hesse, the company said. The AE Group, based in Gerstungen in the Thuringian Wartburg district, had registered bankruptcy on self -administration in August last year. The automotive supplier for aluminum cast parts had justified the situation with a weak demand in the industry.
Searched for investors unsuccessfully for a year
The search for investors was unsuccessful, the company said. “No resilient and thus feasible offer was presented for the takeover of the business.” Around a year ago, the CEO of AE Group AG, Christian Kleinjung, was confident that the company can be renovated through the bankruptcy proceedings and the jobs can be preserved.
The change to a transfer company is now offered to the employees concerned. The social plan agreed between management, works council and the IG Metall union provides for up to six months of wage payments. There should also be offers for further qualification and support in the search for a new job.
Several suppliers in trouble
The failed search for investors shows that the car industry is in a difficult situation, said insolvency administrator Romy Metzger. “Solid increased energy and raw material prices”, the international uncertainty and an environmental environment in Germany were decisive.
After the car manufacturer VW announced a tightened austerity course last year, several car suppliers in Thuringia had come to an imbalance. The sister company of the Thuringian AE Group in Poland, the production company “Ae Group Polska”, also submitted bankruptcy application in June. According to the company, the business there has already been discontinued.
dpa
Source: Stern
