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New optimism in the Austrian Machinery and Plant Engineering Industry
New start for INGENIA thanks to ASMAG –Joint projects in the works
Linz, Austria, February 2017: The ASMAG Group, based in Scharnstein, Austria and INGENIA, specialist for crane and handling technology located in Linz, have been working closely together since August 2016. This has ensured the continuation of INGENIA. On 1 February, ASMAG acquired the shares in INGENIA and the first joint projects are already in the works.
Scharnstein, 8/19/2016. The ASMAG Group is currently in negotiations on the takeover of INGENIA GmbH in Linz, Austria, which went into insolvency on July 20 of this year. Rescuing this accomplished enterprise will retain the profound exper-tise of its founder, current owner, and managing director, Rudolf Geiersberger, and many highly-qualified jobs. The effort depends on the successful restructur-ing of INGENIA, which should be completed within a few months.
Closure of the company was successfully avoided this week, and its continued operation is assured by submission of a restructuring plan proposal.
“It is just not right that a sound company, supported by a lively entrepreneurial spirit and nurtured with economic common sense, would simply disappear from the Austrian landscape,” maintains Johann Vielhaber, himself the guiding force and owner of AS-MAG, special purpose machinery manufacturer. “Insolvency was not the result of lack of productivity. The Russian market has been very important for INGENIA. Because of the rise in the euro/ruble exchange rate since 2013, it has grown more and more ex-pensive for Russian investors to pay euros to Europeans exporters, in this case IN-GENIA, and that’s what led to liquidity problems.”
INGENIA’s business strategy revolves around the sale of large lines, in particular galvanizing lines and special lines with closed process sequences. These business areas are outstanding complements to the ASMAG product portfolio and business strategy, according to the investor.
The ASMAG Group, with headquarters in Almtal in Upper Austria, is an owner-managed group of companies active primarily in the manufacture of machinery and lines for the metals industry. With locations in Austria, Germany, Italy and the US, the ASMAG Group is worldwide one of the most innovative suppliers in the industry.
Tina Ettinger, Tel.: 07616 88010, email@example.com
Ingenia to supply crane technology for the new production facility of the LAND-LEBEN foods production Company.
We congratulate Mitas group on the 60th company anniversary. www.mitasgalvanising.com/en