en.Wedoany.com Reported - On June 11, 2026, the insolvent German construction machinery manufacturer Atlas Group officially completed the notarization of the acquisition agreement. The company was taken over by Canadian agricultural machinery manufacturer Buhler Versatile, which is a subsidiary of Turkey's Asko Group—a family-owned industrial holding company with over 2,500 employees. Through this acquisition, Asko Group aims to further expand its influence in the European market.

Atlas Group, headquartered in northern Germany, is a century-old construction machinery manufacturer. The acquisition covers all assets of Atlas's operating entities but is subject to two conditions: first, approval from the German Federal Ministry of Economics under the Foreign Trade and Payments Act; second, the formulation of an employee placement plan. Buhler Versatile has only committed to retaining a "significant portion" of employees, not all. Atlas currently has about 400 employees, and estimates circulating among staff suggest that up to 200 may be laid off. Whether Atlas's three factories in northern Germany—the Ganderkesee headquarters plant (assembly of wheeled excavators, crawler excavators, and rail-road dual-purpose excavators), the Delmenhorst plant (hydraulic loading cranes and mini excavators), and the Vechta plant (production of hydraulic cylinders and attachments)—will be retained remains a point of contention.

Over the past two years, Atlas Group has been mired in an operational crisis. In early 2026, it formally filed for self-administered insolvency restructuring. The German metalworkers' union IG Metall criticized the new owner's communication approach and called on the investor to disclose specific layoff and restructuring plans as soon as possible.

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