Sponsored By

Embattled Molder Seeks Mmerger’

February 28, 2003

1 Min Read
Embattled Molder Seeks Mmerger’

At press time in late February, automotive supplier Beienheim Plastics, Beienheim, Germany, was negotiating with several companies on what it describes as “a possible merger,” after it voluntarily declared itself insolvent on Jan. 7. An outcome was expected early this month. The company, meantime, has been operating normally.

Beienheim Plastics, which has around 240 employees, was put into primary insolvency, which is similar to Chapter 11 bankruptcy in the U.S., for a maximum of three months. It is a key supplier to General Motors’ Opel division, making radiator grilles and center consoles. It supplies interior, exterior, and underhood components to other European oems.

Beienheim’s commercial director, Axel Schuchmann, says Opel and other customers have been providing the firm financial support in recent months, amid a liquidity crisis caused by the poor business climate in Germany and the need to invest heavily in a collision energy management technology for energy-absorbing components for fascias and interiors.

Beienheim is developing and promoting the Collision Energy Management (cem) technology in Europe and Asia as a sub-licensee of its former parent company, LDM Technologies Inc., Auburn Hills, mi. Beienheim, which now retains all cem know-how, was bought by local management (all of whom are still in place) in December 2001. Schuchmann says several new cem projects were put on hold because of the company’s difficulties, but they “should soon be back on track.”

Sign up for the PlasticsToday NewsFeed newsletter.

You May Also Like