The insolvency proceedings as debtor-in-possession of the medium-sized family-owned company, which specializes in the development, design and production of high-quality drive systems, are almost complete.
ATLANTA has taken another important step. At the end of September, the creditors had approved the reorganization plan. Last week, the Heilbronn District Court confirmed the insolvency plan.
The insolvency proceedings were initiated in May and are now ready to be concluded after less than six months.
Around 270 jobs will also be saved along with the company. The shareholder family Seidenspinner plans to maintain and further expand the plant in Bietigheim-Bissingen. “ATLANTA has completed the process in a very short time and has also managed to restart operationally,” said Jan Metzner, managing director of restructuring from the consulting firm Plan-E. At the beginning of the year, numerous employees were still on short-time work. In the meantime, ATLANTA is working at full capacity and is looking for new employees for production.
“This is a great success in which everyone involved has worked very constructively and focused,” explains shareholder Sabine Seidenspinner. “We are proud and happy to be able to successfully conclude this very challenging period for us. At the same time, we would like to thank our customers and employees for their support during this difficult phase.”
The administrator appointed by the local court, Dr. Dietmar Haffa, commented, “With the insolvency proceedings as debtor-in possession, we wanted to save jobs and give the company a new perspective quickly. We have succeeded in doing so, which I am very pleased about. It is important to secure the know-how of the employees for the company and the region. The insolvency proceedings as debtor-in-possession were the right way to do this.”
As a medium-sized family company which specializes in the development, construction and production of high quality drive systems, we have proved ourselves for almost 90 years developing excellent solutions in the field of drive technology. New production technologies require more complex drive systems and their components must meet strict requirements in quality and performance. ATLANTA has repeatedly adopted and implemented these requirements in new and innovative products over the recent years.
We are an established manufacturer of drive technology and produce in our three plants in Bietigheim-Bissingen (Germany) high quality products like low-backlash gearboxes, racks and gears. Constant development guarantees to us to be ready for complex challenges in drive technology. Next to our extensive catalog range, we have customized solutions for servo gearheads, linear actuators and racks as well.