German rubber processors enter insolvency

Potsdam, Germany – Two German technical rubber processors have entered insolvency proceedings, with an investor search underway for one of the businesses, according to local court filings and company restructuring documents.

The Potsdam district court opened proceedings over the assets of Brieselang-based Elaform GmbH 3 Sept, following an application filed 23 July.

According to the court notice, the proceedings were opened on grounds of “inability to pay” and “over-indebtedness,” with Christian Graf Brockdorff appointed insolvency administrator.

Elaform was established in Brieselang in 2000 by technical rubber and plastics specialist GuK to manufacture moulded rubber components.

The company manufactures and sells moulded rubber products and rubber-metal components, according to its current ISO certification.

Separately, the Saarbruecken district court opened insolvency proceedings 1 Sept over D+M Zuegel GmbH, a rubber products manufacturer based in Uberherrn, Saarland.

According to the court notice, the proceedings were opened on grounds of inability to pay, following an application filed by the company 29 June. Dr Dennis B. Blank was appointed insolvency administrator.

Founded in 1988, Zuegel specialises in “customer-specific” components made from rubber, natural rubber, PVC and other plastics, using processes including stamping, cutting, waterjet cutting and further processing.

Its products include seals, anti-slip mats and custom components for industrial, construction and automotive applications.

An investor search launched during preliminary insolvency proceedings is targeting companies in rubber and plastics processing, sealing and stamping technology and related industrial sectors.

The process is intended to secure the continued operation of Zuegel, according to Mentor AG, which was appointed to conduct the investor search by preliminary insolvency administrator Dennis Blank.