Schnellecke Group buys all shares in Waldaschaff Automotive

With the signing of corresponding contracts on April 28, 2011, the future of the Waldaschaff automotive supplier location was secured. The Schnellecke Group AG & Co. KG, Wolfsburg, will be the new investor and shareholder in the industrial activities of the insolvent companies Wagon GmbH and Wagon Automotive GmbH, both Waldaschaff. Nikolaus Külps, Chairman of the Board of Directors of Schnellecke Group AG & Co. KG, and insolvency administrator, lawyer Dr. Franz-Josef Hansen, Aschaffenburg, on Thursday.

KWD Automotive AG & Co. KG, Wolfsburg, a subsidiary of the Schnellecke Group AG & Co. KG, becomes the sole shareholder of Waldaschaff Automotive GmbH, Waldaschaff, which has now taken over the fixed assets such as machines, patents and vehicles from the wagon companies. The on-site properties are not part of the agreement as they are still held by a US pension fund.

The management of Waldaschaff Automotive assume Helge Bender from the Waldaschaffer Management and Peter Bohnengel Schnellecke. Nikolaus Külps, CEO of Schnellecke group emphasizes: "With the acquisition of the activities and the technical know-how in Waldaschaff we have come closer to our goal to be not only as value-added logistics services successfully in the automotive industry, but also a powerful, technically competent and internationally established production area to form. We will continue to provide joint solutions in the promising automotive lightweight construction. "