09.01.2025
International
Ortrander Eisenhütte has once again filed for insolvency. Despite full order books, proceedings have been initiated which, according to the insolvency administrator, promise “good prospects”.
Ortrander Eisenhütte has once again filed for insolvency proceedings at the responsible local court in Cottbus, Germany. Olaf Seidel from insolvency and restructuring law firm AndresPartner had already assisted the company in the period from 2019 to June 2021.
Business operations continue unchanged
The aim of the new procedure is now to find a permanent solution for the continuation of the plant. The prospects are good, AndresPartner said in a press release. The order books for the current year are already “well filled”. In Ortland, Seidel has encountered a “well-motivated team”, which has signaled that it will continue to stand by the company and support its operations.
Meanwhile, the business operations of Ortrander Eisenhütte continue unchanged. “Our customers will of course continue to be served by us without restriction in the proven quality and adherence to deadlines,” explains Seidel.
The 247 employees were informed about the current situation and the next steps by Seidel and the management on December 18 in Ortrand. Instead of their salaries, they will receive insolvency benefits for three months.
Ortrander Eisenhütte GmbH goes back to a foundry founded in 1887. The company has been supplying thin-walled, weight-saving cast iron for over 135 years.
Featured photo: Ortrander Eisenhütte