The ASMAG Group is currently in negotiations on the takeover of INGENIA GmbH in Linz, Austria, which went into insolvency on July 20 of this year. Rescuing this accomplished enterprise will retain the profound expertise of its founder, current owner, and managing director, Rudolf Geiers-berger, and many highly-qualified jobs. The effort depends on the successful re-structuring of INGENIA, which should be completed within a few months.
Closure of the company was successfully avoided this week, and its continued opera-tion is assured by submission of a restructuring plan proposal.
“It is just not right that a sound company, supported by a lively entrepreneurial spirit and nurtured with economic common sense, would simply disappear from the Austrian land-scape,” maintains Johann Vielhaber, himself the guiding force and owner of ASMAG, special purpose machinery manufacturer. “Insolvency was not the result of lack of productivity. The Russian market has been very important for INGENIA. Because of the rise in the euro/ruble exchange rate since 2013, it has grown more and more expensive for Russian investors to pay euros to Europeans exporters, in this case INGENIA, and that’s what led to liquidity problems.”
INGENIA’s business strategy revolves around the sale of large lines, in particular galvanizing lines and special lines with closed process sequences. These business areas are outstanding complements to the ASMAG product portfolio and business strategy, according to the investor.
The ASMAG Group, with headquarters in Almtal in Upper Austria, is an owner-managed group of companies active primarily in the manufacture of machinery and lines for the metals industry. With locations in Austria, Germany, Italy and the US, the ASMAG Group is worldwide one of the most innovative suppliers in the industry.