Tesla Automation wants to take over parts of Manz

The parties have signed a corresponding purchase agreement, insolvency administrator Martin Mucha told the German press agency DPA. A price was not communicated. According to the report, Mucha is pleased to have successfully concluded the negotiations with Tesla, saving many jobs.

The German engineering company Manz filed for insolvency in December 2024, after lenders said they would “not provide any further finding.” Either way, it was just a matter of time until Manz had to declare insolvency, as the company was over-indebted. The reason: A lack of orders from the electric mobility sector put the company in financial difficulties after the market did not grow as quickly as expected.

Manz has announced that the Local Court of Stuttgart opened insolvency proceedings for the assets of Manz AG on 24 February and confirmed Mucha, the provisional insolvency administrator to date, as insolvency administrator. In his role, Mucha and Tesla Automation GmbH also signed the purchase agreement on 24 February, under which more than 300 employees at the Reutlingen site and “movable tangible assets” will be taken over. Tesla Automation will also use the Manz property on site.

Manz most recently had around 400 employees at its Reutlingen site, 300 of whom will now switch to Tesla Automation. The remaining employees will have the opportunity to join a transfer company. What will become of the approximately 800 Manz employees at locations outside Germany is still unclear.

In January, Mucha started the search for a buyer for the Manz Group as the provisional insolvency administrator. The goal was to find a strategic investor to take over Manz AG in its entirety. The search was unsuccessful, but at least parts of the company and jobs will remain. According to the DPA report, the rest of the company is “now being liquidated step by step.” However, former shareholders of the listed stock corporation will “probably go away empty-handed.”

Tesla Automation GmbH is the German mechanical engineering company Grohmann Engineering from Prüm in Rhineland-Palatinate, which specialises in the automation of production facilities. Tesla acquired Grohmann in November 2016 to expand its electric car production. The company initially continued to operate as Tesla Grohmann Automation and was still fulfilling orders from external customers until April 2017. Since then, the company, which was later renamed Tesla Automation, has only been active for the US car manufacturer.

faz.net (in German)