One of Germany's largest consumers of aluminium scrap, Aluminiumschmelzwerk Oetinger GmbH, filed for insolvency on Tuesday at the District Court in Neu-Ulm. In response to EUWID enquiries, the Court confirmed receipt of the filing. Frank Kebekus of the Dusseldorf-based law firm Kebekus and Zimmermann has been named interim liqidator.
Aluminiumschmelzwerk Oetinger, which has its headquarters in Weißenhorn, Bavaria, could not be reached for comment. According to reports in the German daily, the "Augsburger Allgemeine", the company had been in difficult financial waters of late, despite full order books. The paper named the decline in the price for cast iron parts as a result of the financial crisis in Southern Europe.
Aluminiumschmelzwerk Oetinger GmbH has described itself as a European market leader in the production of aluminium casting alloys. The Oetinger group owns five aluminium smelters, located in Weißenhorn, Berlin, Hannover and Neu-Ulm, Germany, and in Gorcy in France.