The Lower Austrian technology company PREIS Group acquired the Styrian insulator manufacturer GIPRO as of January 1, 2025, thereby ensuring the long-term continuation of the production site in Peggau. Around 100 jobs will be retained after the company faced economic difficulties due to the pandemic's impacts.
Successful Restructuring Without Job Cuts
The restructuring process following the 2023 insolvency was successfully completed without any layoffs, as emphasized by restructuring manager Martin Allitsch.
PREIS Group Strengthens Its Market Position
With the acquisition by the PREIS Group, a successful family-owned company from Pernitz employing 800 people, GIPRO gains a strong partner. The PREIS Group companies develop and manufacture components for sustainable infrastructure across Europe. High-quality, complex products for various infrastructure applications are produced at four international locations. These include transformer components for power distribution, cast components for industrial partners, and drainage systems for civil and structural engineering.
