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There is a future for the insolvent German glass manufacturer Weck (“Weck-Gläser”). The German Aurelius Group is taking over Weck, as insolvency administrator Thilo Braun announced on Thursday upon request. The contract with the financial investor was signed on November 11th. Braun did not provide any information about the agreed purchase price. “Wirtschaftswoche” had previously reported on it.
Weck filed for bankruptcy in mid-June – due, among other things, to previously reduced demand and high energy prices. Specifically, it was about the parent company J. Weck GmbH and Co KG, based in the city of Wehr, and the subsidiary Weck Glaswerk GmbH.
The locations and a large proportion of the jobs will therefore be retained. Aurelius wants to bundle the companies into one company. Administration, sales and, to date, the publishing business are located in South Baden. However, the latter will not be continued. An agreement must now be found with 25 of the 115 employees in Wehr, said Braun. There is a volunteer program with severance pay. The glassworks, based in Bonn, employs 260 people.
The traditional company has been around for more than 123 years. But Weck doesn’t just produce the well-known preserving jars. The company does a large part of its business with glass packaging for the food industry – for example for cucumbers, mustard and jam.
- Read here: The manufacturer of Weck glasses is bankrupt
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