A Mondragon cooperative has agreed to buy the last remaining facility operated by insolvent German automotive manufacturer AKsys.
The plant in Peine, Germany was bought by FPK sa (Zamudio / Spain), which itself belongs to Batz lightweight technologies, PlastEurope reports.
As a result of the sale, some 100 of the jobs in Peine will be secured, although the insolvency administrator said several positions also had to be shed.
Batz-FPK is part of Mondragon. In April this year, the cooperative had acquired the 50% share AKsys formerly held in the FPK joint venture. Mondragon consists of four divisions: finance, industry, trade and intelligence.
For the last 50 years, the Batz affiliate has been developing and manufacturing wheel changing modules and systems, modular pedal systems, hand break components and metallic structural parts. FPK in turn delivers function-oriented structural components made predominantly of reinforced plastics.
Oskar Goitia, CEO of Mondragon’s automotive division, said a particularly important addition for his cooperative was the know-how of the workers in Peine, as well as the processing technologies, the products and the customers.
“This takeover will strengthen our position in Germany”, he added.
Last German plant sold to Basque Mondragon group (PlastEurope)