At the end of December 2025, German veteran PCB manufacturer Jenaer Leiterplatten officially submitted an insolvency protection application to the local court. Driven by short-term financing structure adjustments rather than operational distress, this decision aims to realize business restructuring through the judicial protection framework, preserving its 25-year-old production base and the jobs of 73 employees (including 3 apprentices).
 
Specializing in security, aerospace, and defense sectors, Jenaer Leiterplatten boasts the capability to produce PCBs up to 24 layers, with efficient delivery of urgent and express orders as its core competitiveness. CEO Stefan Wiedemann emphasized that production remains at full capacity, with strong and steady demand from the defense and aerospace markets. Instead of disrupting operations, insolvency protection creates a window to attract strategic investment and optimize operational structure. Supported by special guarantee funds, employee salaries for the next three months are fully secured, and business operations continue uninterrupted.
 
Peer Perspective (PCB Industry Insider Views)
 
1. Amid global PCB industry restructuring and cost pressures, European manufacturers face unique challenges including high energy costs and urgent demand for supply chain localization. Jenaer’s choice of insolvency protection over liquidation preserves high-end technical capacity and aligns with Germany’s strategy to strengthen its domestic microelectronics industry chain— a rational move to "safeguard capacity and technology" for the sector.
2. Its focus on defense and aerospace, a high-threshold market with stable demand and mature compliance qualifications, creates a dual barrier of "technology + market access." Such accumulated expertise and certifications in high-end PCB manufacturing are irreplaceable in the short term, making it attractive amid industry consolidation.
3. Industry cases show that high-quality PCB enterprises often achieve rebirth through restructuring . With Germany advancing its microelectronics strategy and increasing support for the domestic semiconductor supply chain, Jenaer’s restructuring comes at an opportune time. It is well-positioned to leverage policy dividends and strategic investment to become a stable link in Europe’s high-end PCB supply chain.
 
The local court has appointed Thorsten Springstub from law firm Tiefenbacher as the interim insolvency administrator, and the company has launched a targeted search for strategic investors. As Europe’s PCB industry accelerates consolidation and local capacity needs reinforcement, this restructuring — centered on preserving production capacity and pursuing long-term growth — is expected to significantly enhance the resilience of Germany’s and Europe’s high-end PCB industry chain.