Albstadt (Baden-Württemberg) – In July, they celebrated the 120th anniversary of their business. Now a world market leader in its industry is insolvent – and the 350 employees fear for their jobs. The family-owned company from Albstadt has employees worldwide, but most of them are employed at the headquarters in Baden-Württemberg, with a few more in the Czech Republic and China. Most recently, Mayer & Cie. made a turnover of 80 million euros – according to its own figures, this is a slump of almost 50 percent. Spokeswoman Claudia Bitzer confirmed to BILD that the workforce of Mayer & Cie. was informed about the insolvency and the next steps at a works meeting on Thursday. WirtschaftsWoche had first reported. Company exports worldwide Mayer & Cie. manufactures circular knitting machines that are used to produce T-shirts, underwear, nightwear and mattress covers, for example. According to its own information, the company holds more than 300 patents and has thus become the world market leader. Almost all machines are exported, especially to Asia. Six years ago, braiding machines were added to the portfolio, which are used to produce sheathing for hydraulic hoses, among other things. Company exports worldwide Mayer & Cie. manufactures circular knitting machines that are used to produce T-shirts, underwear, nightwear and mattress covers, for example. According to its own information, the company holds more than 300 patents and has thus become the world market leader. Almost all machines are exported, especially to Asia. Six years ago, braiding machines were added to the portfolio, which are used to produce sheathing for hydraulic hoses, among other things. Employees waived special payments In 2024, the traditional company had a turnover of 80 million euros. Nevertheless, it got into economic difficulties. The employees have recently already waived special payments. But that alone was not enough, on September 23, an application for insolvency proceedings in self-administration had to be filed. These reasons led to the insolvency “Mayer & Cie. operates in a market that is currently in turbulence due to global events,” the company says about the reasons for the insolvency. “For example, the trade conflict between the USA and China and the war in Ukraine led to reluctance to invest worldwide. (…) At the same time, state-subsidized manufacturers from China are offering their textile machines at low prices on the world market.” This has led to a Slump in sales of almost 50 percent last year – with increased costs at the same time. “We intend to continue business operations as usual and will continue to do everything we can to commitment to maintaining the company’s core competencies,” says attorney Mucha. The salaries of the employees are secured for at least three months by the insolvency money.

I know news is important but the most reactionary, demagogic shitpiece of german propaganda regime still irks me.