Packaging manufacturer Casimir Kast has been active in the Gernsbach region for 475 years and has been family-run for 13 generations. Due to the difficult economic development, the traditional company has now filed for insolvency.
The provisional insolvency administrator appointed by the Baden-Baden district court, Dr Dirk Pehl, is currently gaining an overview of Casimir Kast's economic situation and examining restructuring options. Casimir Kast is not only an established traditional company with a long company history, but also an important employer and firmly rooted in the region. The aim is therefore to put the company back on a solid economic footing and give it a long-term perspective, it is said. Business operations continue without restrictions.
„We will seek dialogue with customers, suppliers and other partners of Casimir Kast in a timely manner in order to create transparency and trust in the restructuring process. However, all customers can rest assured that their orders will be produced and delivered as agreed. New orders can be placed at any time. Business operations are not affected.“
Dr Dirk Pehl
The aim of the insolvency application is to give the long-established company Casimir Kast a fresh start. „An investment could be worthwhile because Casimir Kast iStrongly positioned in an economically relevant, diversified and promising market is,“ says Pehl. „The demand for packaging is also likely to increase further in the future. I am therefore confident that we could succeed in finding a reorganisation solution. To this end, we will initiate a targeted search for potential investors in the near future.“
Economic downturn weighs on companies
As recently as 2022, around 10 million euros had been channelled into securing the site, approximately in a new printing press and its own power station including a photovoltaic system, but the subdued economic development in Germany and the noticeable consumer restraint in society as a whole, as well as cost burdens due to price increases for materials and energy, put the company in an economic predicament. These rising costs could only be partially passed on to customers or offset by new business. The resulting tense liquidity situation made filing for insolvency unavoidable.
„The insolvency application marks a turning point in our century-long company history. Nevertheless, we see in it also the chance of a new start, to add further chapters to our long history. We want to utilise the proceedings and develop a restructuring roadmap together with the provisional insolvency administrator in order to overcome the current situation and make the company fit for the future.“
Christian Oetker-Kast, Managing Director
Source: Casimir Kast
