“Everything to do with Pinsdorf has stopped” – the excavators are now at a standstill at the construction site of the heating specialist Windhager in Pinsdorf in the Gmunden district. The bankruptcy filing of the Salzburg company, which is led by a Mühlviertler, has a huge impact on Upper Austria.
Windhager boss Stefan Gubi still exuded optimism when he spoke to the ‘Krone’ last year about the 100 million euro investment in Pinsdorf, where the heating specialist is building a heat pump installation including a logistics center.
But now the excavators are at a standstill. Windhager filed for bankruptcy on Friday and a follow-up filing for the Pinsdorf plant is expected. Commissioning was planned for April this year, but had already been postponed to July last year. Now the bankruptcy judge must decide.
Gubi, born in Mühlviertler and who manages the Windhager fortunes in Seekirchen (Sbg.), cites a drop in orders – mainly due to sky-high pellet prices – as an important reason for the bankruptcy.
Windhager had acquired a leading name, especially in the pellet industry, but pellet prices that exploded during the energy crisis made many customers insecure and orders were canceled. The debt is reported to be €86 million. A renovation is being sought.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
