Dutch aluminium maker Aldel files for bankruptcy due to soaring energy prices

The Dutch aluminium producer Delfzijl Aluminum commonly known as Aldel, filed for bankruptcy with the court on Thursday, October 27. The news was confirmed by Eric Wildschut, director of finance. High energy costs are the primary reason for the financial issues, resulting from which they had stopped manufacturing since the beginning of September.

In 1966, Damco Aluminum Delfzijl (Aldel) was established in Delfzijl and considered one of the biggest employers in Northeast Groningen. The plant melts and casts high-quality aluminium consumed in the automobile sector. The factory requested the judicial deferral of payment on Monday, October 24.

Since then, the Dutch aluminium maker has attempted to work with an administrator to establish a payment option, but according to Wildschut, there need to be more liquid resources to make it happen. According to him, circumstances are entirely different now, and he hopes that the parties with whom Aldel had communicated before will reunite.

Aluminium is produced and melted via a power-intensive process. The foundry had not been operating for some time when the facility was shut down in September due to the high energy prices. Previously, that resulted in the termination of the great majority of Aldel's employees. The 25 workers still employed by the business before a potential relaunch are now being let go.

“The seriousness of the case was not well known. We are now the first to fall. I have the terrible fear that many more companies will follow if nothing happens,” said Wildschut.

source https://www.alcircle.com/news/dutch-aluminium-maker-aldel-files-for-bankruptcy-due-to-soaring-energy-prices-85959