Techniplas, a provider of highly engineered technical solutions to the automotive, transportation, and industrial markets, agreed to acquire major parts of the business from Nanogate, a provider of design-oriented, multi-functional components and surfaces primarily for the automotive and industrial industries. Financial terms were not disclosed. “However, the restructuring plan includes cuts for creditors and shareholders. In recent months, we have also had to reduce the number of employees in order to retain the core business and thus a large proportion of the jobs. This offers the remaining 1.6k employees a new perspective and creditors a considerable quota. During the insolvency proceedings in self-administration, production continued largely undisrupted: Securing production and reliably supplying our customers was and remains our highest priority," Matthias Bayer, Nanogate General Representative.