OTEMA Gruppe

GENERAL INFORMATION

Industry:

agricultural machinery, commercial vehicles

Employees:

approx. 200

Turnover:

roughly EUR 100 million

Region:

national

Initial situation

The OTEMA Gruppe had been one of the largest agricultural machinery dealers in Saxony and Saxony-Anhalt. Problematic investments, high costs and a high pre-financing requirement that could not be covered led to the insolvency of the three companies in the group and made it necessary to file for insolvency in self-administration (§ 270a InsO).

Services

Restrukturierungspartner accompanied the group of companies in its restructuring under self-administration and organised and advanced the proceedings with all parties involved. Dr. Stefan Weniger complemented the management as restructuring managing director (CRO).

The tasks of Restrukturierungspartner included the structured preparation of the filing for insolvency in self-administration, the development and implementation of restructuring measures, negotiations with stakeholders (financiers, creditors, suppliers and customers), planning and controlling as well as the operational continuation of the ongoing business operations.

The commercial vehicle division, including the Bad Dürrenberg site, was transferred to the Holfelder Group within the self-administration. An investor was also found for the agricultural machinery division with its locations in Grimma, Lichtenau and Schmölln. It was sold to NewTec, a subsidiary of the AGRAVIS group.

In total, about 160 jobs were saved.