Panaria joins as a financially strong investor and proven expert for tiles and takes over large parts of the distribution as well as the production at the Leisnig site in the short term.
The Bremerhaven plant will continue to operate under the Steuler Tile Group's own management for the next six months - the goods produced there will be sold under Panaria's management.
On April 1, 2024, Norddeutsche Solar Ceramics will then join as a further investor and take over the Bremerhaven production site from the Steuler Flies Group. The company is a subsidiary of the listed Meta Wolf AG, an internationally active specialist in construction and technology.
Most jobs will thus be retained at the two largest tile production sites and in sales. Steuler Tile Group managers are in close consultation with both investors regarding further detailed agreements.
However, no viable concept could be presented for the Mühlacker site; the plant in Baden-Württemberg will have to be closed. The employees based there will be transferred to a transfer company to prevent immediate unemployment and enable them to make the transition to new employment.
In July 2023, the ailing Steuler Tiles Group applied for the opening of insolvency proceedings in self-administration with the aim of realigning the company for the future. At the same time, those responsible had entered into an intensive exchange with potential investors. In the meantime, the tile plants were shut down - only Leisnig was producing at reduced capacity. The investors are now benefiting from the fact that the plants in Bremerhaven and Leisnig are in very good condition and have state-of-the-art energy systems. Thanks to the well-established team, they can be restarted immediately.
Steuler Holding, as the previous main shareholder of the Steuler Tiles Group, very much welcomes the fact that, in the current extraordinarily difficult market environment, employment is being secured for a large part of the Tiles Group's workforce.
The Steuler companies in the Westerwald will continue to actively support the existing colleagues in the best possible way to ensure a smooth new start.
