After insolvency

Heating giant has a new owner

The Salzburg-based company has a new owner.(Bild: BARBARA GINDL / APA / picturedesk.com)

Windhager can breathe a sigh of relief! The Salzburg-based company, which slipped into insolvency, has a new owner. There is also good news for the employees.

The Salzburg heating manufacturer Windhager, based in Seekirchen, which slipped into insolvency at the beginning of January, has been rescued. The Upper Austrian water treatment company BWT has taken over the company, which had run into financial difficulties. Insolvency administrator Helmut Hüttinger confirmed: "The contract was signed yesterday and the creditors' committee has already given its approval," he told the Austria Press Agency.

New managing director too
The price for the takeover initially remained unknown. "But it is a reasonable sum. We are satisfied," reported Hüttinger. Strictly speaking, the buyer is not BWT, but its sister company, "FIBA Beteiligungs- und Anlage GmbH", which already holds stakes in numerous other companies. According to the insolvency administrator, the approval of the competition authority is still pending.

"Windhager is an excellent brand and we have found a good solution here," emphasized BWT CEO Andreas Weißenbacher in the media. The Windhager name is to be retained. The aim is to take on as many of the approximately 440 employees as possible. However, it is unrealistic to expect this to succeed for all employees. However, Windhager employees were offered on Wednesday the possibility of moving to BWT's headquarters in Mondsee. According to reports, a recruitment freeze has already been put in place there. BWT Managing Director Weißenbacher will also become the new Windhager Managing Director. 

"Offer made"
He explained the purchase of the heating producer by saying that the company had already been active in the energy technology sector for some time. "It's a perfect fit for us." He also expressed interest in taking over the new heat pump plant, which is already 85% complete, including the logistics center in Pinsdorf (Gmunden district). "We have made an offer." However, as this is a different insolvency procedure, it is still completely open whether the bid will be accepted.

There is also good news for Windhager employees on another front: as reported by the trade union, employees will receive their outstanding wages and salaries from this week via the insolvency compensation fund.