Hermes Schleifmittel GmbH reorganizes as part of insolvency proceedings

Hamburg, July 3, 2025 – The management of Hermes Schleifmittel GmbH has filed for the opening of insolvency proceedings with the Local Court of Hamburg. By order dated July 2, 2025, the court has opened preliminary proceedings and appointed Dr. Sven-Holger Undritz as the provisional insolvency administrator.

The background to this decision lies in ongoing economic challenges facing the abrasives industry – including market uncertainty, a weak economy, and inflation-driven cost increases. Delays in planned liquidity-boosting measures, such as real estate transactions, have further contributed to the current situation.

Hermes Schleifmittel GmbH continues to operate its business without restrictions. All other group companies, including international locations, are not affected.

As part of the proceedings, a comprehensive restructuring concept will be implemented, which includes a structured investor process. The aim is to secure the long-term future of the company, preserve jobs, and sustainably strengthen its competitiveness.

About Hermes Schleifmittel GmbH

Headquartered in Hamburg, Hermes Schleifmittel GmbH develops, manufactures, and sells high-quality abrasive solutions for the metal, automotive, aerospace, wood, and glass industries. Founded in 1927, the Hermes Group has around 800 employees and operates globally with international production sites and sales offices. Most recently, it generated annual revenues of approximately EUR 135 million. Its product range includes coated abrasives and precision bonded abrasives designed to deliver outstanding functional and aesthetic surfaces.