MWS Industrieholding is taking over the main assets of the insolvent MGG with 160 employees in Herzogenburg, Lower Austria. For this purpose, the holding company MWS Niederdruckguss is founded, in which MWS holds an 80 percent stake and managing director Markus Kieberger holds a 20 percent stake. MWS is majority owned by Invest AG and Raiffeisen OÖ Invest, two investment companies of the Raiffeisen Banking Group Upper Austria.
MGG is a traditional permanent mold foundry that was sold to a Dutch group in 2021 and had to go into restructuring proceedings this year. The MWS Group, with 300 employees, 45 million euros in sales and operational locations in Ternberg, Klagenfurt and Slovakia, specializes in aluminum casting and CNC machining. The transaction will “secure jobs at the site,” says Kieberger. Invest-AG board member Andreas Szigmund sees a “basis for structural and personnel growth.”
