Automotive supplier Allgaier set to be sold to Chinese investor

The Allgaier Group, a family-owned company of former employer president Dieter Hundt, is a globally active corporate group in the fields of automotive and process engineering. The company primarily manufactures press and sheet metal parts and their tools for the automotive industry as well as screening, drying, and granulation systems.

Crisis, Restructuring, and New CEO

In October 2019, the management of the Allgaier-Group announced massive cost reductions at the company headquarters in Uhingen, including job cuts. This was particularly necessary due to the ongoing extremely declining trend in order intake in the tool manufacturing sector. To achieve the required cost reduction, employees at the location were willing to accept a salary reduction. In return, the company's management pledged to refrain from further layoffs until the end of 2022.

Dr. Achim Agostini took over the chairmanship of the management board of the Allgaier-Group in October 2021. According to Agostini, the new CEO has set himself the goal of taking responsibility for the upcoming changes in the Allgaier-Group and bringing them to success together with the workforce. He places particular importance on maintaining and further expanding the good cooperation with the employees and the company culture. He is also optimistic about the future of the company given the current order situation:

"I am very much looking forward to the task ahead and I am filled with pride to lead the traditional company Allgaier into the next phase of its development," says Dr. Agostini. "We currently have a stable and good order situation again, providing a foundation to successfully continue Allgaier's story."

Allgaier cannot manage the transformation on its own

Despite the optimistic statements from the new CEO, the company has been searching for a financier for months. The management of the automotive supplier and process technology manufacturer announced in 2021 that the search for an investor had failed and that the company was now up for sale. At the end of last year, the company's management had to admit that only one interested party was still in negotiations with Allgaier. According to information from within the company, the potential buyer is believed to be a Chinese company that is already active in Germany.

How this aligns with the CEO's statements remains unclear. It rather appears that Dr. Agostini has been appointed to wind up the Allgaier-Group.