46 employees lose their jobs Traditional Thurgau company has to close for good

The metal construction company Neuweiler in Kreuzlingen TG has to close for good. The Chairman of the Board of Directors is saddened by the decision.

The traditional metal construction company Neuweiler in Kreuzlingen TG is on the brink of closure. After almost 200 years, the company, which specializes in large welded constructions made of steel, stainless steel and aluminium, has to file for bankruptcy.

All 46 employees, including four apprentices, lose their jobs. The high cost of electricity and materials ultimately broke the company's back, as reported by theTagblattnewspaper.

The history of Neuweiler AG goes back to 1833. Chairman of the Board of Directors Christian Neuweiler says: "It's a bad feeling that I don't wish on anyone. After all, it's not just any company, but a long-established business."

Financial reserves were too small

The bankruptcy came as a surprise. Neuweiler cites a lack of materials for long-term orders and postponed repair orders as the reasons for this, which led to a considerable drop in turnover. "A large part of the turnover was lost. The company couldn't cope with that," explains Neuweiler. One and a half years ago, the company had to go into debt-restructuring moratorium, but recovered briefly. This time, recovery was no longer possible.

The company's financial reserves were too small. "If we can no longer pay for the operating materials, we can no longer work," says Neuweiler. The company no longer saw any way of meeting its financial obligations and would not have been able to pay the July wages either.

"The most important thing for me is to find new jobs for our four apprentices," says Neuweiler. He believes that his people should be given new jobs. "The job market is not bad at the moment for our specialized people."