Schreiber & Keilwerth joins Buffet Crampon group and leaves Nauheim
|Effective 1st August 2010, German wind instruments manufacturer Schreiber & Keilwerth is part of the French Buffet Crampon group, a company Schreiber & Keliwerth was closely connected with earlier when both were part of the Music Group, formerly Booesey & Hawkes Group. “The contract has been signed, the creditors’ meeting has already approved the deal. As a result, the production site in Markneukirchen and its currently 134 jobs are saved,“ insolvency administrator Tobias Hoefer announced. The integration of Schreiber & Keilwerth operations into the new Buffet Crampon Deutschland GmbH once again creates a global leader in woodwind instruments.
“This solution secures the continuation of the company as much as it provides development potential for the future. Schreiber & Keilwerth and Buffet Crampon have worked closely for years as supplier and buyer. Strategically, they are excellent together, so the combination should provide synergies for both companies,“ Hoefer emphasised.
“We are well aware of the skill of staff and the quality of the production in Markneukirchen. Along with the strong brands of Schreiber & Keilwerth this was a crucial factor in our decision to buy the firm. Thanks to the recent restructuring by the insolvency administrator, we can now continue operations in Markneukirchen in a seamless process,“ Buffet Crampon CEO Antoine Beaussant said.
The sale of the operations, the brands and the key assets to Buffet Crampon was in the end the only alternative. Other potential buyers had opted out at different stages in the negotiations or failed to submit acceptable offers. “In view of the market development, it was very difficult to find a solution that was both viable for an investor and in the interest of our creditors. We managed just in time, otherwise we would have had to shut shop on 1 August,“ the insolvency administrator affirmed.
Since filing for insolvency on 12 March 2010, Hoefer had kept business going to the full extent. However, the tense situation in the music industry forced capacity adjustments and staff reductions.
Since early May 118 employees had to be released. They now have the opportunity to change to an employment and qualification company on comparably favourable terms.
At the previous company headquarters in the Hessian town of Nauheim, eight of the currently 15 employees will initially be kept on to handle the insolvency process of the “old“ Schreiber & Keilwerth Musikinstrumente GmbH. After that the site will be closed.
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