MWS-Industrieholding acquires the essential assets of the insolvent MGG Herzogenburg GmbH, aiming to enhance its technological capabilities and secure jobs in the local market.
Target Information
The target of this acquisition is MGG Herzogenburg GmbH, a traditional die-casting company located in Herzogenburg, Lower Austria. Founded in 1954 by Georg Fischer, MGG specializes in the production of complex aluminum castings using the low-pressure die-casting method. Following a management buyout in 2014, the company was sold to the Dutch MGG Group in 2021. In January 2024, MGG Herzogenburg GmbH entered into a reorganization process without self-administration due to insolvency.
This asset deal allows MWS-Industrieholding to acquire the essential assets of MGG Herzogenburg GmbH, including approximately 160 employees at the site. The newly established company will operate under the name MWS Niederdruckguss GmbH, in which the MWS Group holds an 80% stake, while the remaining 20% is owned by the current managing director, Markus Kieberger.
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Industry Overview
The low-pressure die-casting industry in Austria has been characterized by continuous technological advancements and a growing demand for lightweight components, particularly in the automotive sector. As manufacturers aim for increased energy
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Disclosed details
Revenue: $49M