PRESS RELEASE - European Rubber Journal

PRESS RELEASE
Successful investor search for Henniges Automotive Grefrath GmbH
• Draftex Automotive GmbH secures future for Grefrath plant
• Partnership with Indian Ruia Group facilitates stronger international focus
• Customers support new owner’s concept
Düsseldorf. (17 December 2009) – Dr. Wolf von der Fecht, insolvency administrator of
Henniges Automotive Grefrath GmbH & Co. KG (Henniges), has successfully
completed the search for an adequate investor. All assets of the company that
specialises in the production of sealing systems for the automobile industry, were
acquired by the newly founded Draftex Automotive GmbH (Draftex) company as part of
an asset deal. This transaction secures the future of the site lastingly. 407 jobs will be
saved.
In the course of the international economic and financial crisis Henniges faced a
decrease in turnover from about € 96 million p.a. to about € 45 million p.a. recently.
The company with 797 employees, filed for insolvency on 27 November 2008.
“Extensive restructuring measures allowed us to strengthen the site effectively over the
past few months,” says Dr. Wolf von der Fecht, Partner at the law firm Metzeler von der
Fecht.
Draftex was established to take over the site in Grefrath. Despite similar names, the
company bears no legal connection at all to Henniges’ predecessor company. The
majority of shares in the new company are owned by the international Indian based
Ruia Group. Among Ruia’s main areas of interest for investment opportunities are the
tyre and rubber production as well as infrastructure and mechanical engineering.
Temporarily, Dr. Wolf von der Fecht also retains a share in Draftex as Henninges’
insolvency administrator. Jürgen Hein, a graduate economist, has a share in the
company as well and additionally will take over the management. Jürgen Hein has
extensive expertise in the automotive sector and was Chief Financial Officer at Draftex,
Henniges’ predecessor company.
“Against the massive competition amongst suppliers, Draftex has to distinguish itself
from its competitors by high degree of development and manufacturing expertise,
reliability of supply and better quality. The company has already significantly improved
its competitive position in terms of prices with the extensive restructuring measures that
have been implemented in the meantime,” says Jürgen Hein. Furthermore, the
partnership with Ruia facilitates the company’s access to the Asian and East European
market.
Within trade agreements all customers guaranteed to keep their orders with Draftex
until at least 2011. Moreover, Draftex will be considered favourably when placing new
orders. “I am very satisfied that we have been able to win our customers for the Draftex
concept. Hence, they are helping the new owner to put the company on a solid basis
right from the start,” says Dr. Wolf von der Fecht.
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Press Contact
Rebekka Lacombe
HERING SCHUPPENER Consulting
Strategieberatung für Kommunikation GmbH
Phone: +49.211.430.79-54
Mail: rlacombe@heringschuppener.com
About Draftex Automotive GmbH
Based in Grefrath, Draftex Automotive GmbH is specialized in the manufacturing of sealing
systems for the automotive industry. With 407 employees, Draftex supplies international
automobile companies, as for example BMW, Daimler, Volkswagen and Audi.
About Metzeler von der Fecht
The law firm Metzeler von der Fecht with offices in Düsseldorf, Duisburg, Essen and Wuppertal,
is one of Germany’s leading law firms for insolvency administration, out-of-court restructuring as
well as liquidations. The law firm was founded in 1975 by Friedrich Wilhelm Metzeler and offers
expertise from lawyers, tax consultants and financial auditors.
For more information please see www.mevdf.de.
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