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In Germany, the oldest metallurgical enterprise in Europe over 600 years old, the Eisenwerk Erla plant in Saxony, went bankrupt, reports the Rg.ru website. The reason is the consequences of the economic crisis caused by the coronavirus pandemic and rising energy prices.
The first mention of the Eisenwerk Erla factory appeared in the XIV century. Among the owners of the enterprise, both local feudal lords and manufacturers, as well as Indian investors who bought the plant in 2007, were noted.
The Eisenwerk Erla plant survived the devastating Thirty Years' War in Europe in the XVII century and even World War II. At present time, the owners of the enterprise are in no hurry to finally close it and are working on financial recovery.
Two more bankrupt enterprises in Germany with more than a century of history are the 150 years old breweries Memminger and Friedenfels in Bavaria. The sources of the problems are most likely the same as those of the Eisenwerk Erla plant.