On 11th February 2021, the law firm Schultze & Braun announced, Rusal, the world's leading aluminium producer is taking over the Rheinfelden Aluminium group. This will secure the future of the century-old German aluminium manufacturer.
Aluminium Rheinfelden applied for preliminary insolvency proceedings in the autumn of 2020 and laid-off 55 employees out of 256.
Following the initial signature last week, an investor had been found for the group and that it is the Russian Aluminium firm Rusal, which is responsible for the restructuring management, has now received official confirmation.
On 11th February 2021, representatives from Aluminium Rheinfelden and Rusal signed an agreement of purchase with which Rusal would like to take over the business operations and assets of Aluminum Rheinfelden GmbH. However, the takeover is still subject to approval by the Federal Ministry of Economics and the Federal Cartel Office.
The restructuring manager Detlef Specovius stated: "As one of the world's leading aluminium manufacturers, Rusal is an ideal partner and investor for aluminium Rheinfelden. The deal secures the future development of Aluminium Rheinfelden and its qualified workforce."
Holger Leichtle, who had been appointed as the trustee by the local court in Lörrach, quoted: “The goal was to find the best solution for the creditors and to get as many jobs as possible at the traditional location in Rheinfelden. The solution found was good for Aluminium Rheinfelden, good for the buyer, good for the region and good for the employees".
Wolfgang Zink from the Mining, Chemical and Energy Industrial Union (IG BCE) made a similar statement last week: “The buyer, i.e. Rusal, will keep the Rheinfelden location - and maintain jobs, and possibly even create more, according to Zink. The workforce was informed about the purchase on Thursday, says works council chairman Wilhelm Tholen. There will soon be a works meeting until then Tholen does not want to comment on the question of how many jobs will be kept.”
Aluminium is particularly attractive to Rusal thanks to its research successes and technical expertise - according to the firm, aluminium has more than 70 patents. The relationship between aluminium and the automotive industry is also highlighted.
Roman Andryushin, Director, Sales and Marketing, Rusal, said: "The Aluminium-Rheinfelden Group is a respected manufacturer of high-quality alloys, semi-finished products and carbon-based products with strong business relationships with some of the world's largest automobile manufacturers and leading industrial companies. The takeover, therefore, offers "exciting strategic development opportunities for Rusal".
By maintaining production in Germany, jobs are to be secured. Rusal also wants to invest more in research and development. "Our long-term strategic goal is to further expand the manufacture of products with high added value and to offer our customers solutions with recyclable products."
According to the law firm, the protective shield proceedings initiated by Aluminium in the autumn were related to intensifying competition and the effects of the corona pandemic. However, the company was in trouble before the pandemic. Alu was founded in Rheinfelden in 1898 - as the first aluminium smelter in Germany.
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