Insolvent Alfeld, German foundry machine builder Künkel-Wagner has been thrown a lifeline with the announcement that an investor has acquired the company. The investor, QME from Qingdao (Tsingtao) in China, was due to take over the insolvent machine builder from 1 September 2014, it was announced by the liquidators recently. No purchase price was disclosed.

Künkel-Wagner was established in 1907 as a mechanical engineering company specialising in foundry technology. Since then, the headquarters of the internationally operating company including administration, a research and development division, fabrication division and project management has been located in Alfeld near Hanover, Germany.

Since the construction of the very first hand moulding machines in 1911, Künkel-Wagner has developed a wide range of foundry equipment.

In the late 1950s, Künkel-Wagner was one of the first companies offering fully automatic moulding plants. Innovative moulding techniques were developed and the first alternatives to jolt-squeeze moulding machines were presented, followed by integrated moulding sand preparation equipment, core sand separation, simple casting machines and automatic pouring equipment.

There is no information available on QME from Qingdao (Tsingtao) in China except that Tsingtao was a German concession from 1897 to 1914. The German influence is still evident in the architecture of the old town, and in its brewery, which produces the well-known Tsingtao beer.