Financial Investor Takes Over Glass Manufacturer Weck After Bankruptcy
A buyer has emerged for the insolvent manufacturer of the well-known Weck glasses. The Aurelius Group from Munich is taking over the traditional company according to an announcement by the insolvency administrator Thilo Braun. According to the administrator, the two locations and a large proportion of the jobs will be retained.
Weck filed for bankruptcy in mid-June. The reasons given at the time included decreased demand and high energy prices as a result of Russia's war of aggression on Ukraine.
An Aurelius spokesman confirmed the purchase price was in the double-digit million range. It wants to merge the two companies and is seeking voluntary redundancies from the administration offices.
Weck has been in business for more than 123 years. With the strawberry logo, brand name and orange sealing ring, they have become a symbol for preserving food. However, the company does a large amount of business with glass packaging for the food industry.
