The acquisition process for the insolvent company Schenk Plastic Solutions (Esslingen / Germany; www.schenk-ps.com) – see Plasteurope.com of 06.03.2008 – could soon be completed, according to the administrator, Manfred Dobler of the law firm Hägele & Dobler (Stuttgart / Germany; www.haegele-dobler.de). Several strategic investors are interested in this automotive supplier, whose debts amount to some EUR 35m. Customer Daimler evidently has a central interest in keeping the company afloat. Detailed plans have to be submitted by 6 June 2008 and the creditors’ committee meets on 9 June.

So far, the company’s three sites have continued to operate normally. Dobler told Plasteurope.com that there has been no drop in sales. In his view, there is no reason to cut jobs. "Schenk has many temporary staff,” he said, “so that opens up some scope.” Around 120 of the 320 employees in Germany are temporary workers. The group also has 160-170 production workers in Liberec / Czech Republic.

Dobler said also that some proposed concepts include separating the Czech subsidiary from the German business, but the creditors have made it clear that they do not regard this as desirable.