AKT Files for Insolvency, Czech Operation Remains Unaffected

GARDELEGEN, Germany- AKT altmärker Kunststoff-Technik AG, a German Tier1 supplier of injection moulded components for the automotive industry, filed for insolvency on 6 January 2011. According to the filing, the company plans to continue operations after carrying out its own reforms. Both management and the appointed insolvency lawyer said they expect the restructuring plan to be wrapped up successfully this year.

Altmärker’s three subsidiaries WEDO Formenbau und Kunststoffverarbeitung (Doberschau, Germany), AKT Plásticos (Amorebieta, Spain) and AKT Plastikarska Technologie Cechy (Jablonec nad Nisou, Czech Republic) are not affected by the insolvency, which solely applies to the company holding, located at the Gardelegen headquarters.

Altmärker employs some 1,700 workers at its four sites, with about 1,000 to be based at its in Gardelegen. The company produces a broad range of plastic components for OEMs such as VW, Opel, Daimler, Porsche and BMW as well as for Tier1 manufacturers Johnson Controls, Faurecia and IAC.
Source: Plasteurope