The search is underway for prospective investors for the insolvent German units of the automotive division of Polish conglomerate Boryszew (Sochaczew; www.boryszew.com.pl – see Plasteurope.com of 01.11.2021). “We want to use the time until the end of the year to advance talks with potential buyers to a level where an acquisition could be completed as early as in the first quarter of next year,” said restructuring MD Tobias Hartwig from German law firm Schultze & Braun (Achern; www.schultze-braun.de).

The three units – Theysohn Kunststoff, Theysohn Formenbau and their holding company Icos – are part of Boryszew Automotive Plastics. In its search for investors, Schultze & Braun is receiving support from German consulting firm Rödl & Partner.

Despite the insolvency filing on 13 October 2021, operations are said to be continuing in full at affected Theysohn sites in Salzgitter and Langenhagen, which employ around 300. Customers are still being supplied, and some have even placed additional orders, said restructuring consultant Nils Andersson-Lindström of Schultze & Braun. This is seen as an important signal for both the employees and potential investors.