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According to a press release, the company, based in the St. Pölten district, currently employs around 200 people. In response to APA’s request, the company did not initially provide any information about assets and liabilities. The restructuring process is intended to achieve restructuring and long-term survival.
“The current sales crisis in the European automotive industry is now having a full impact on MGG’s order and sales development,” it was announced. The company was faced with “significantly reduced purchase figures in the short term”. The resulting decline in sales cannot be offset by internal measures. Creditors are offered a restructuring plan that provides for a quota of 20 percent, as the “NÖN” also reported online.
According to its own information, MGG Herzogenburg is one of Europe’s leading manufacturers of aluminum castings for the automotive industry. These include engine parts, chassis components (such as axles and wheel carriers), brake calipers and battery housings. The company in its current form was taken over by two long-term employees in 2014 as part of a management buyout and initially operated as CSA Herzogenburg GmbH. In 2017 the company was bought by and integrated into the Dutch MGG Group. This process was completed in 2021. The company name was subsequently changed to MGG Herzogenburg GmbH.
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