A Hamburg-based manufacturer of sanding and grinding products used across industries including furniture production, has filed for insolvency after nearly 100 years in operation. Approximately 800 employees are affected, with around 250 based in Germany.
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The company, Hermes Schleifmittel GmbH, cited "ongoing structural pressures" in the abrasives sector, including rising costs, global competition, and economic stagnation, as key reasons for its financial troubles. Despite the insolvency filing, Hermes announced that production and operations will continue without disruption.
In an official statement, the firm described the move as "a strategic step toward realignment" aimed at long-term sustainability. A structured restructuring plan, including a search for investors, is in place to stabilise operations and secure jobs.
Hermes Schleifmittel is a longstanding supplier to furniture manufacturers, providing essential sanding solutions for wood processing. Its precision abrasives have been used in both industrial and DIY furniture projects for decades.
The group's international subsidiaries remain unaffected and continue to operate normally. Despite current challenges, the company maintains an optimistic outlook, aiming to preserve jobs and reposition itself for future growth while continuing to serve the global furniture industry.
Source: www.chip.de
