Tom Armitage, Automotive News EuropeWitten, Germany - Martin Kunzmann is the new chief operating officer at troubled German supplier HP Pelzer.Kunzmann takes the role as the firm continues to restructure after being taken over by its creditors.On 4 May, ownership of the supplier of interior trim and acoustics components passed from the Pelzer family to a consortium of the company's lenders.These took equity stakes in exchange for the firm's debts. The two largest stakes are held by Goldman Sachs and Silver Point Capital.Kunzmann said he will refocus Pelzer on customers and technology to move the company forward. He was previously a member of the board of FAG Kugelfischer as well as the ceo of the ball-bearing maker's industrial division.Pelzer's interim ceo, Peter Briggs, who has stepped down from his position, said Kunzmann's appointment marked the company's transition to having a permanent management. He said since the announcement of the financial restructuring on 4 May, Pelzer's relationships with automaker customers and suppliers have stabilised. "Pelzer is now well positioned for long-term growth," he said in a statement.Briggs is a managing director of the global turnaround company Alvarez & Marsal.Pelzer employs 4000 people at 34 locations in 18 countries in Europe, North and South America and Asia. The last year for which financial information is available is 2004, when turnover was Euro 550 million. Pelzer's products include all types of engine and passenger compartment sound insulation, as well as boot insulation and trim. Many of these floor and carpet systems as well as other insulating parts are based on polyurethane materials."