SHW Casting Technologies in Wasseralfingen is celebrating a special casting success, the company has cast the 500th large engine block in a series. The casting concerned was an 18‐cylinder engine block for use in power stations to generate electricity, working with a power of 17 megawatts. The order for number 500 came from a major customer in northern Europe, one of the world’s leading manufacturers of large engines and power stations.
A quantity of 100 tonnes of molten iron were poured for the large engine block. The finished engine block is about 12 metres long, 3 metres wide and 2.5 metres high, with a delivery weight of about 82 tonnes. After the time which it needs to cool down and several machining steps, the block can be delivered to the customer in approximately four weeks. The completelarge engine including its block, crankshaft, cylinder heads etc. will ultimately weigh about 240 tonnes.
For many years, SHW Castings Technologies in Wasseralfingen has specialised in large engine blocks for power stations, cruise ships and freighters. With its production of large cast parts, SHW CT counts amongst the market leaders in the sector, as there are only a few companies across Europe who are able to cast parts of this size.
Engine blocks are made to customer drawings at the plant in Wasseralfingen using high quality materials. As a long‐established company, SHW CT stands for the excellent quality of its castings. The high quality standard is very important as the engine blocks will be permanently exposed to extraordinary thermal and mechanical stresses.
PLUTA expert Marcus Katholing, Chief Restructuring Officer at SHW CT, and his team have been restructuring the company as part of debtor‐in‐possession proceedings since July 2017. The PLUTA expert said, “Our company is on the right track. This year’s backlog of orders exceeds the previous year’s and current demand from our customers continues at a high level.
To complete our customers’ orders on schedule, we are looking for new recruits to reinforce our team in a number of departments.”
The process of looking for an investor has started last year. However, given the company’s good current position, there is no time pressure to find a quick solution.
About the proceedings
Debtor‐in‐possession proceedings are in‐court restructuring proceedings to rescue and rehabilitate financially distressed companies. The company is allowed to manage the restructuring process itself, supervised by an insolvency monitor and generally supported by restructuring experts with relevant experience in this field. The preliminary proceedings, that last between 2 and 3 months, are followed by the main proceedings, in the course of which the creditors can file their claims.
About the company
SHW Casting Technologies was created from the foundry activities of Schwäbische HüttenWerke (“Swabian Smelting Works”). The roots of iron production date back to 1365, when monks in the Swabian Alb region began extracting iron from ore. Today, the Group comprises the holding company CT Beteiligung GmbH & Co. KG and the three operational businesses: SHW Casting Technologies GmbH & Co. KG Werk Wasseralfingen, SHW Casting Technologies GmbH & Co. KG Werk Königsbronn and Machining Technologies GmbH & Co. KG Werk Königsbronn. At its two plants, the Group produces engine blocks, papermaking rolls and other castings, as well as components for use in energy generation.
PLUTA helps companies in legally and economically difficult situations. Since the company was founded in 1982, PLUTA has constantly grown and today has a staff of more than 400 employees in Germany, Spain, Italy and Poland. More than 90 members of staff with a legal background and 40 with a business background, including attorneys and tax consultants with multiple qualifications as auditors, graduates in Business Administration and accountants ensure practicable and economically sensible solutions. In particular, PLUTA provides support in restructuring companies affected by a crisis or insolvency and in continuing business operations, if necessary by involving restructuring experts in a responsible role. PLUTA is oneof the top enterprises specialising in restructuring and turning around companies, as demonstrated by rankings and awards from INDat, JUVE, Focus, Legal 500, Who’s Who Legal, Best Lawyers and Global Restructuring Review. Further information is available at www.pluta.net.