With the completion of the takeover, the insolvency proceedings of film manufacturer Treofan have come to an end. The Neunkirchen site will be retained and the company will operate under the name Polyopt GmbH in future.
Around five months after filing for insolvency proceedings under self-administration, film manufacturer Treofan has completed its restructuring. Business operations have been transferred to a new, insolvency-free company, which will operate under the name Polyopt GmbH in future. The new owner is the family-run Al Ghurair Group based in Dubai.
The necessary antitrust authorisations have now been obtained, allowing the transaction to be completed. The production site in Neunkirchen and around 290 jobs (of the previous 465) will be retained. The takeover agreements with the new shareholder had already been signed in December 2025.
Strategic investor from the plastics industry
Polyopt GmbH is backed by the Al Ghurair Group, which is further expanding its activities in the plastics sector with the takeover. The group already owns Taghleef Industries, one of the world's leading manufacturers of flexible polypropylene films. Polyopt and Taghleef are to operate as sister companies in future. According to the parties involved, the development and production of capacitor films and flexible packaging films will continue at the Neunkirchen site. The parties have agreed not to disclose the purchase price.
Self-administration proceedings successfully concluded
Treofan filed for insolvency proceedings under self-administration on 4 September 2025. Despite a difficult starting position, business operations were stabilised and continued throughout the proceedings. Dr Anna Katharina Wilke from the law firm Flöther & Wissing, who acted as general counsel in the proceedings, explains: „With the completion of the takeover, the site in Neunkirchen has put the chapter of insolvency behind it and can now look positively to the future again.“
The court-appointed trustee Dr Sebastian Mohrs from Abel & Kollegen also assessed the conclusion of the transaction positively. „Following a transparent sales process, the takeover by a strategic investor means that the site now has good prospects of developing positively again. The creditors can be satisfied with this solution,“ said Mohrs.
Source: Flöther & Wissing
