GvW advises Silbitz Group on employment aspects of Eisengiesserei Torgelow takeover
Silbitz Group has taken over Eisengiesserei Torgelow, a traditional iron foundry in the east German state of Mecklenburg-Western Pomerania, in a transferring restructuring deal. GvW Graf von Westphalen advised the Group on employment law issues relating to its takeover of the roughly 300 employees.
Eisengiesserei Torgelow, has operated in the foundry industry for more than 260 years. Given its access to the Baltic Sea, the company specialises in the production of highly complex cast components for the offshore wind power industry.
With this acquisition, Silbitz Group is expanding its product range in the area of renewable energies. Silbitz Group has various foundries and a mechanical machining facility located in Silbitz, Thuringia. The company, which is part of the listed group Deutsche Beteiligungs AG (DBAG), produces cast components for industries such as the energy, mechanical engineering and transport sectors.
GvW advised the Group through its Stuttgart based partner Axel Klasen. Axel Klasen is part of the team that spearheaded GvW’s new office at Stuttgart’s former Bosch Areal (more).
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