The company is one of Europe’s leading companies in the production of aluminum castings for the automotive industry.
“MGG has mastered the art of forming liquid aluminum into complex castings that are machined and assembled into high-quality products that are used all over the world: in trucks, cars and motorcycles, in boilers to heat our homes, in our hospitals, in various medical settings Applications via the wall socket because MGG makes its contribution to the energy sector. In short, there are too many possible uses to list them all,” it says on the company website. “MGG is a manufacturer of very precise aluminum castings and assemblies. The company works at various locations in the industrial core regions of Europe on innovative solutions for customers operating in demanding markets.”
Die MGG Herzogenburg GmbH (company register number: 212531x) applied for restructuring proceedings (without self-administration) at the St. Pölten regional court on December 29, 2023. It currently employs around 200 people at the company location in Herzogenburg, Gießereistraße 1.
“The company in its current form was taken over in 2014 by two long-standing employees through a management buy-out and initially operated as CSA Herzogenburg GmbH,” it said in a press release. “After several successful business years, the company was purchased and integrated into the Dutch MGG Group in 2017. This process was completed in 2021. The company name was subsequently changed to MGG Herzogenburg GmbH.”
MGG Herzogenburg is one of Europe’s leading companies in the production of aluminum castings for the automotive industry. These include engine parts, chassis components (such as axles and wheel carriers), brake calipers and battery housings.
“The current sales crisis in the European automotive industry is now having a full impact on MGG’s order and sales development. Due to this development, fewer vehicles are being demanded by end customers and the automotive industry is accordingly purchasing smaller quantities of MGG. MGG was now confronted with significantly reduced purchase figures from the industry in the short term,” it continues. “The resulting decline in sales cannot be offset by internal measures. The restructuring and long-term survival of the company is now to be achieved through legal restructuring proceedings. Creditors are offered a restructuring plan. This means they receive 20 percent of their claims.”
facts and figures
In the 2022 financial year, sales amounted to 44.62 million euros, the annual loss was 3.122 million euros and the accumulated loss was 4.279 million euros. The liabilities were valued at 21.59 million euros, of which 1.575 million euros were attributable to banks, 1.463 million euros to advance payments and 7 million euros to trade payables; Liabilities to affiliated companies accounted for 2.097 million euros and other liabilities for 9.44 million euros.