Foundry Planet
The investor QME from Qingdao in China will take over the insolvent Alfeld machine builder, Künkel-Wagner. This was announced by the liquidator, Christopher Seagon, yesterday evening.
After already two months from the submission of the application for insolvency, all 180 jobs have been saved in Alfeld.
The concrete buyer of the company is the Chinese Quatoan Process Technology GmbH, a subsidiary of QME. The acquisition is effective immediately, the purchase price was not disclosed.
According to Seagon, QME is able to prevail because it has presented the best overall concept: The German Face of Künkel Wagner and the location Alfeld are to be retained, and the new owners have the means to successfully place the company on the market again.
Künkel-Wagner was founded in 1907 and is a market leader in foundry plants. In early July, the company had applied for the opening of insolvency proceedings.
