Salans advised the bank creditors of insolvent automotive supplier AKT altmärker Kunststoff-Technik GmbH on the sale to its new owners. Boryszew Kunststofftechnik Deutschland GmbH, which belongs to the Polish Boryszew-Group, takes over AKT GmbH’s main plant in Gardelegen, Saxony-Anhalt, as well as its affiliate in the Czech Republic. AKT’s Spanish affiliate was transferred to Grupo ISN. The sales contract was approved by the principal creditors, six leading German financial institutions, integrated in a pool of banks.

The Salans Team led by partner Andreas Ziegenhagen already advised the consortium of banks as AKT’s collateral agent in the beginning of 2011. The company had declared insolvency on January 6, 2011. 

AKT altmärker Kunststoff-Technik GmbH produces synthetic casting parts for the automotive industry. During the recapitalisation process, about 1,550 jobs have been preserved. The Boryszew-Group is one of the largest industry holdings in Poland, counting about 7,500 employees and a turnover of approx. EUR 1 billion.