Seibel Kunststofftechnik GmbH, based in Hermersberg, has filed for insolvency proceedings under self-administration at the Pirmasens District Court. The family-owned company supplies, among others, the automotive, electrical, and footwear industries with injection-molded plastic parts.
The court granted the application of July 27 and appointed attorney Matthias Bayer of Abel & Partners as provisional administrator. The management team, led by company founder Mathias Seibel, remains in office. They are supported by restructuring experts Jens Lieser and Alfred Kraus of Lieser Attorneys at Law.
According to the company, business operations continue without interruption. Financing is secured for the coming months. Customers and suppliers will also be served as usual during the proceedings. The approximately 60 employees have been informed of the situation. Their wages and salaries are secured for the months of July through September through insolvency benefits. Payments are expected to resume from ongoing business operations starting in October.
A restructuring plan is to be developed and implemented in the coming weeks. Simultaneously, discussions are already underway with potential investors and strategic partners. The goal is to make the company, founded in 1996, more competitive and to secure the Hermersberg location and as many jobs as possible for the long term. The ongoing crisis in the automotive industry is considered one of the reasons for the company's financial difficulties.
