The German arm of Swedish automotive supplier Plastal (Kungälv; www.plastal.com) has secured the necessary financing to keep operations going during insolvency proceedings – see Plasteurope.com of 09.03.2009. Temporary administrator Siegfried Beck said the concept assures that the plants will continue to be supplied with materials to manufacture moulded plastic parts such as bumper systems and dashboard components while also assuring deliveries to its European OEM customers.

As the German plants have enough orders to continue production at full run, short-time working has been cancelled for the period March-May 2009 when the holding Plastal GmbH will receive German government-backed insolvency funding. Headquartered at Weißenburg, where it employs 500 people, the German group has plants at Essen (460 employees), Pappenheim (460), Reinsdorf-Büddenstedt (430), Renningen (15) and Sinntal-Sterbfritz (310).

Beck said he is seeking buyers for Plastal’s German operations, without giving details as to whether the business would be sold as a whole or broken up. “All options are open,” he commented, while adding that several potential investors have already signalled interest.