Overview

• Perlon lodged insolvency proceedings at the Augsburg court for its seven German units with preliminary custodian Dr. Max Liebig appointed to oversee restructuring.
• About 490 of the company’s 850 German employees face uncertainty while international plants in Poland, China, India and the United States continue normal operations.
• The move follows a 40 percent slump in paper-machine filament demand over three years compounded by rising energy and labor costs and supply-chain disruptions.
• Parent firm Serafin invested heavily in Perlon since acquiring it in 2010 but recent market pressures and cost hikes outstripped those modernization efforts.
• Co-CEO Matthias Peter said the court-supervised process provides the framework for a comprehensive overhaul aimed at restoring long-term profitability.