Kapfenberger Ventana Foundry: Refurbishment secured - 25% back for creditors!

Kapfenberger Ventana Foundry: Refurbishment secured - 25% back for creditors!

On Wednesday, an important meeting found an important meeting at the Leoben regional court for the renovation of the "Ventana Foundry Kapfenberg Ges.M.B.H." instead of. The company based in Werk VI-Straße 56 in Kapfenberg has again filed for bankruptcy, for the fourth time since 2011. This time the application was submitted in July 2024. Finally, the creditors have agreed to the renovation plan, which is significant relief for the 41 employees and ensures the continued existence of the company, reports MeinDien.

The financial situation of Ventana is serious, however: the company has liabilities in the amount of 5.37 million euros and assets of only 1.13 million euros. A total of 84 claims with a volume of around 949,000 euros were registered in this renovation round. The plan accepted by the creditors stipulates that the insolvency believers receive a quota of 25 percent. This payment is made in three installments: 10 percent immediately after the legal confirmation of the plan, 10 percent after one year and the last 5 percent within two years.

renovation plan and newcomer in the management

Gernot Essl, who is now a 100 percent partner, has set itself the goal of mastering the challenges. The continuation of the company is to be fulfilled by the continuation of the company. Before him, the years 2011, 2016 and 2017 were associated with similar difficulties. The current renovation process could be a second chance for Ventana after the company has operated under this name since 2019.

The difficulties of the foundry industry

The fact that Ventana is in such a tense situation is part of a larger trend in the foundry industry. There are also worrying developments in Germany: Teutoguss GmbH recently had to register bankruptcy. This iron foundry with 200 years of history is also struggling with the problems that the industry has experienced in recent years-including Corona pandemic, rising energy prices and global trade conflicts, as can be found on Fr.de.

The challenges are diverse: a shortage of skilled workers, inflation and the need to implement new, environmentally friendly production methods, make it difficult for the industry. In 2024, numerous foundries registered bankruptcy, which looks black for the entire industry. For the coming year, an increase in bankruptcies in the processing industry will even be forecast.

Despite these challenges, the successful Ventana renovation plan shows at least that hope for a positive turn in the foundry sector is not completely lost. It remains to be seen whether Ventana can implement the necessary steps to leave its past behind and reinvent itself.