Greenfield Industrial GmbH - Hamburg, 28.10.2022

Last summer, the group of investors behind Modell Technik Formenbau GmbH (MTF) was forced to finally close the doors of its plant in Sömmerda, which once employed around 100 people. Due to the strong structural changes in the automotive supplier market, the closure of the business could no longer be avoided in the long term. A continuation of operations on the company's own initiative was examined, but could not be realized.

After the public announcement of the plant closure, the industrial trading company Greenfield Industrial contacted the MTF management with the aim of offering the company's investors, at best, a holistic approach to a solution. This was to include the complete takeover of the property, including technical equipment and other operating resources of the Thuringian mold maker. In this way, the stakeholders of the company were to be enabled to close down the business in an uncomplicated manner.

With the overall offer, a satisfactory agreement was reached between the MTF owners and the Hamburg-based retail company after just a few rounds of negotiations. Whether the property will be taken over at a later date remains open for the time being.

"Greenfield Industrial's concept is to provide machinery and equipment with a second value-added cycle through remarketing on an international level," said Ron Alexander, managing director of Greenfield Industrial GmbH. "Therefore, we are happy to be able to start directly with the resale of the assets now that we have purchased the mobile assets."