The takeover of the insolvent Bolta-Werke (Leinburg-Diepersdorf, Germany; www.bolta.com) by German-Czech industrial holding company Winning Group (Brno, Czech Republic; www.winninggroup.cz) has been finalised. All the German sites (Leinburg-Diepersdorf, Gottmadingen, and Gütersloh) have been saved along with around 850 jobs. Bolta’s foreign assets in Tuscaloosa, Alabama, USA, and Puebla, Mexico, were neither part of the sale nor the insolvency proceedings.

According to local media reports, nearly 40 jobs were cut during the insolvency proceedings as part of a social plan. There were also numerous voluntary resignations.

As part of the takeover, the Winning Group has renamed the Bolta-Werke electroplating specialist, which according to the Nürnberger Nachrichten has over fifty injection moulding machines. It will be operating as Winning Plastics Diepersdorf going forward.

This is just the latest in a line of acquisitions by the holding company, which was founded in 2016. Back in May, the Czech company under German CEO Sebastian Wagner bought the business operations of automotive parts supplier Räuchle and a plant belonging to the also insolvent PWK Group in Krefeld, Germany, after acquiring Linden and Sächsische Metall- und Kunststoffverarbeitung in February.