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Written on 05.11.2010 - Industry
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SaarGummi Germany files for insolvency

The management of SaarGummi Germany GmbH has filed for bankruptcy this morning at the insolvency court Saarland. Until recently the management had struggled with employee representatives, the shareholders, banks and car manufacturers to find a solution. Affected by the bankruptcy only SaarGummi GmbH in Germany is Wadern-Büschfeld, which handles mainly the automotive business for the German market.

Not affected are the other German SaarGummi companies, the Luxembourg holding company and subsidiaries. The management of the company will now try to continue the necessary restructuring together with the insolvency administration.

The SaarGummi Group is a global manufacturer of sealing systems mainly for automotive applications. The group headquartered in Luxembourg produces in Germany, the Czech Republic, Slovakia, Spain, India, Brazil, China and the US. In 2009, SaarGummi worldwide with about 3,300 employees generated sales of around EUR 300 million. The SaarGummi Germany GmbH in Büschfeld has about 850 employees.