No Investor: Auto Supplier Boryszew Halts Production - Boryszew Kunststofftechnik shuts down, leaving 430 jobs at risk by 2023

Boryszew Kunststofftechnik, a major automotive supplier in Saxony-Anhalt, will close its operations by the end of 2023. The company, which produces interior components for Volkswagen Group, failed to secure a long-term investor. Insolvency administrator Silvio Höfer cited ongoing difficulties in Germany's car industry as the main reason.

The decision affects two plants: Gardelegen, where 330 employees work, and Idar-Oberstein, with around 100 staff. Höfer informed workers at both sites about the shutdown plans. Production will continue until the end of the year, ensuring jobs remain for now.

Efforts to find a buyer collapsed after months of searching. Höfer explained that the automotive sector's tough conditions made it impossible to attract investment. Without fresh orders or financial backing, the company had no option but to wind down operations.

Boryszew specialises in manufacturing interior parts for Volkswagen and other automakers. Its closure marks the end of a significant supplier in the region, leaving hundreds facing an uncertain future.

The shutdown will take full effect by December 2023. All current employees will keep their positions until then. The loss of the company removes one of Saxony-Anhalt's largest automotive suppliers from the market.