CIREX GmbH takes over Feinguss Soest GmbH & Co. KG

Soest, Germany, 01 December 2022

CIREX GmbH is taking over the company Feinguss Soest GmbH & Co. KG as of December 1st 2022

Buyer is a company from the CIREX Group in the Netherlands that is part of an international group of companies with an annual turnover of EUR 1 billion

The foundry for casting aluminium aerospace and defense components will continue at its location in Soest with all approximtely 80 employees and will be further expanded

The CIREX Group, located in Almelo, Netherlands, will take over the company Feinguss Soest GmbH & Co. KG. The CIREX Group is part of Signicast / Form Technologies Inc, based in the United States of America. CIREX Group is considered to be an ideal partner for Feinguss Soest.

The temporary insolvency procedure was announced on 12 August 2021. The company was successfully continued in the last 16 months by curator Dr. Jan Janßen, partner of GÖRG Rechtsanwälte / Insolvenzverwalter GbR. Despite the insolvency procedure the workforce has expanded in this period and the turnover has increased compared to the previous year.

As part of the acquisition the CIREX Group will take over all financial assets from Feinguss Soest, including the real estate. Business operations will continue without restrictions at the location Soest. Numerous well-known customers will be supplied. About 80 employees work at Feinguss Soest. The buyer intends to keep the Foundry at the Soest location in the long term and plans to expand the capacity.

„By taking over the employees and know-how from Feinguss Soest we can expand our portfolio with aluminum precision castings and reach out to new customers as well“, Jeroen Spoelder, ceo of the CIREX Group, explains.

Dr. Jan Janßen is pleased with the result. „I am very happy with the joining and deployment of the CIREX Group. Feinguss Soest is in a good position for the future being part of the CIREX Group within an internationale group of companies. My special thanks to the staff, the customers, the suppliers and the Zollern Unternehmensgruppe, who have contributed with their efforts to a long-term solution for Feinguss.“

The seller and buyer have agreed not to disclose the purchase price and general commercial terms. The consultancy company MONTAG & MONTAG from Cologne was assigned to carry out the sales process and to provide support for the continuation of the activities.

About Feinguss Soest GmbH & Co. KG:

Feinguss Soest GmbH & Co. KG, headquartered in Soest, was founded in 2006 as part of ZOLLERN Group and the division ZOLLERN-Feinguss, after it was taken over from ThyssenKrupp AG. The German company has been active for more than 50 years in the field of aluminum castings for demanding technical and precise applications. The most important customers are companies that develop, producce and assemble complex aircraft, vehicle and machine components.

For more information please visit: www.feinguss-soest.de

About Dr. Jan Janßen en GÖRG

Dr. Jan Janßen is lawyer and partner at GÖRG Rechtsanwälte/ Insolvenzverwalter GbR. He was appointed by the Arnsberg District Court on August 12, 2021 first as provisional administrator and on December 1, 2021 as curator. GÖRG is one of Germany’s leading independent commercial law firms and one of the top 10 bankruptcy law firms in Germany.

More than 300 highly specialized lawyers and tax advisers work at five central locations in Hamburg, Berlin, Cologne, Frankfurt/M. and Munich, as well as in 25 other bankruptcy offices across Germany. Among them are numerous bankruptcy and restructuring experts who have received national attention on well-known bankruptcy and restructuring measures. GÖRG Rechtsanwälte / Insolvenzverwalter has been one of the leading bankruptcy administration offices in Germany for many years.

For more information please visit: www.goerg.de

About the CIREX Group of companies

The CIREX Group is the European part of the Signicast division of Form Technologies Inc. (USA). The Signicast division is a development partner and producer of high-quality precision castings using the lost-wax method. CIREX has a total of approximately 350 employees and has foundries in the Netherlands and the Czech Republic. CIREX also has finishing companies in the Czech Republic and Slovakia. CIREX’s main markets are the automotive and manufacturing industries. CIREX’s main sales countries are Germany, Great Britain, the Netherlands, France, Italy and Scandinavia.

For more information please visit: www.cirexfoundry.com

About the Zollern Group of companies

The ZOLLERN-Group is one of the oldest family-run companies in Germany, which develops and produces a broad product range of high-quality steel products with 2,000 employees, several companies and subsidiaries in Europe, North America and Asia.

For more information please visit: www.zollern.com

About MONTAG & MONTAG consultancy

Founded in 2012, MONTAG & MONTAG is an independent and owner-managed consultancy based in Cologne. The main focus of the activities is the operational support of business problems and bankruptcies, as well as the implementation of M&A processes.

For more information please visit: www.montag-montag.de

 

 

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