— By Plasteurope.com staff — 

Family-run Teufelberger (Wels, Austria; www.teufelberger.com) on 30 January 2025 applied for restructuring proceedings for its financially troubled Strapping Solutions business. The company noted, however, that the production of polypropylene and PET strappings would continue without restrictions. The division operates as an independent company and employs a staff of 186.

CEO Florian Teufelberger said that the goal of the restructuring is to set up the business in such a way that it is “fully up to the challenges of this difficult market environment again”.

The unit’s financial difficulties stem from weak demand in the construction industry, high energy prices, and tough price competition, the company said. “The packaging strapping market is currently suffering from overcapacity”, the CEO added. “There are too many producers, especially in Eastern Europe, Turkey, Italy, and Germany.”

As part of the industry’s consolidation, Teufelberger acquired a competitor from Poland in 2022.

The Austrian firm said its two other divisions, Wire Rope (steel wire ropes) and Fiber Rope (fibre ropes), are not affected by the restructuring. It stressed that these two businesses are, in fact, doing well, with full order books.

According to the company, its Wire Rope division even received the largest order in its history just last year – Teufelberger is supplying steel cables for the entire roof structure of one of the world’s largest football stadiums.

For the current financial year ending 31 January, the firm, which employs 1,400 worldwide, expects stable sales of around EUR 300 mn.

— Translated by Christopher Köbel