From millions of euros in sales to €37. German company stops its Slovak plant

After more than 30 years, the German company Lindenmaier Slovakia is closing its plant in Šurany, Nitra Region. Although the management filed for bankruptcy while trying to maintain the production, the effort was unsuccessful, reports Sme daily.

Back in 1993, the German company Lindemaier found a limited liability company, Automaty, and bought a plant from already bankrupted sewing machine company Elitex. Over the next years, the production of metal parts for cars grew, which eventually lead to the construction of another plant in Šurany, which opened in 2007.

The Slovak branch survived the 2009 economic crisis and was bought by the German group Länneken Invest. For a while it seemed that the production might increase again.

In 2017, Lindenmaier Slovakia reported sales of €9.1 million. However, a year later that drop to half and in the following years they couldn't exceed sales of €3.7 million.

In addition, between 2017 and 2023 the company ended up in the red three times, losing €1.2 million in total. The number of employees was also in decline; it employed around 200 in the best of times, in 2023 it was around a quarter of that number.

In spring last year, with just €37 at their disposal, the management filed for bankruptcy. There were debts, disrupted relationships with suppliers and other problems. Nevertheless, the production still continued, and a new investor was being sought.

At the end of 2004, creditors run out of patience and closed the production at the end of the year. According to bankruptcy documents, 73 creditors have filed claims totalling €445,000.

Lindenmaier Slovakia also owes €171,000 to the social security provider Sociálna Poisťovňa and €31,000 to the state-owned health insurer Všeobecná Zdravotná Poisťovňa.