Not surprisingly, the depression in the leading companies of the German automobile sector is having devastating consequences among highly-specialized medium-sized companies faced with up to 50% loss of their business. Just a few examples from the past few days:
Vulkan Technic is a medium-sized company from the Vulkan-Eifel region in western Germany that focusses in special machine construction and automation solutions. Since its foundation in 1995, the company has been developing and manufacturing individual robot-supported systems for well-known customers such as BMW and ThyssenKrupp. The systems are used in a wide range of industries—from the automotive and consumer goods industries to medical technology.
The coronavirus crisis shutdown and the recent crisis in the automotive industry are said to have driven the company to ruin. Together with Liebherr, Vulkan Technic developed automated assembly systems for battery packs in climate-friendly electric cars. However, even this did not yield positive results as the German e-car boom did not occur. The company has filed for insolvency. Sales talks with potential takeover candidates are now set to take place soon.
