Pelzer acquires Happich State guaranty for seven million euros

Wuppertal/Düsseldorf, 28 June, 2010.

The insolvent Wuppertal Happich Group, one of the world’s largest suppliers of interior equipment for automobiles, has been rescued. The group’s principal companies, Happich Fahrzeug- und Industrieteile GmbH and Happich Profile GmbH of Wuppertal, together with several of its European subsidiaries, have been acquired by Pelzer Acoustics GmbH, a Pelzer Swiss Holding AG. The State of North Rhine-Westphalia has furnished a guaranty of seven million Euros, thus safeguarding the jobs of 100 employees at the Wuppertal location. According to the Metalworkers Union in Wuppertal this will also preserve the jobs of a further 500 people employed by Happich sub-contractors.

The renowned name and the famous Happich logo – now with the "A Pelzer Family Company" appendage – have also been retained. The acquiring company, Pelzer Acoustic Products GmbH, develops and manufactures highly effective acoustic and thermal insulation products for employed in conjunction with aviation, marine engines, special-purpose vehicles, mechanical engineering and the building industries. It will be assimilated as a new platform within the Happich Group.

Leaner management, flatter structures, production outsourcing, enhanced and modern IT-supported sales including a new online shop and – most importantly – investment in research and development will all contribute towards making Happich viable for the future. Marc Pelzer (34), HAPPICH’s new managing partner, intends to develop this company with its great tradition into the European headquarters of the Pelzer Swiss Holding AG and to bring HAPPICH’s central warehousing operations back to Germany. “We want to develop rapidly and will create a further 30 jobs”.

Mayor Peter Jung and the Business Development Council of the City of Wuppertal were just as active in keeping Happich alive in Wuppertal as was the state-run NRW.INVEST organisation. Bruno Kübler, the liquidator, accepted the bid from Pelzer Acoustic Products GmbH, noting that this is an innovative, strategically oriented company with the necessary financial resources and the backing of its banks, and one whose products are an excellent complement to HAPPICH’s portfolio.