Rohwedder to file for insolvency

The Germany-based Rohwedder AG will file for insolvency proceedings in the course of this week due to threatening illiquidity. Despite intensive efforts it was not possible to safeguard the necessary financing. The Rohwedder Group grew out of the Rohwedder KG; a company in the machine building industry that made precision tools. In 1956, Karl Beck, the grandfather and Hans Rohwedder, the father of the current Chairman of the Supervisory Board, established this company in Markdorf. By 1971, the company had 100 employees. The production of specialty machinery had become a fixed component of the company’s portfolio. Recognized domestic and foreign concerns were the primary customers of the precision products the company produced. Joachim Rohwedder, the son of Hans Rohwedder, became Managing Director of the family company in 1981. He was a strong influence in directing the company towards automation technology. In the mid 1980s, specialty machinery generated 70% of the sales volume. The primary focus was on high quality assembly systems for the automotive supply industry and entertainment electronics industry. In 1994, the company had locations in Markdorf and in Bermatingen. Joachim Rohwedder was the driving force that helped the family company develop into a globally active Group. In March 2000 was the IPO, partly to finance further international expansion. Today, the Rohwedder Group - with approximately 720 employees - operates in the three growth markets of Europe (Estonia, Finland, France, Germany, Hungary, Italy, Romania), Americas (Canada, Mexico, USA) and Asia (China, India, South Korea). The Rohwedder Group is one of the leading producers of systems solutions and standards products for automation technology, the company states on their website.