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The Italians saved the car seat manufacturer Recaro from bankruptcy. Recaro filed for bankruptcy this summer, which came as a surprise to both employees and the union. Now it became known that the Italian company Proma Group has signed an investment agreement with the German Recaro, so the latter is no longer in danger of bankruptcy. Proma Group is a large manufacturer of automotive components produced at 25 factories in Europe, North and South America.
The Italian side promises to keep jobs for key employees of Recaro Automotive, as well as its headquarters in the suburbs of Stuttgart. At the same time, the production of seats for the OEM sector will be transferred from Germany to Italy at one of the factories of the Proma Group.
It was previously reported that only the Recaro Automotive division, which deals with car seats, faced financial difficulties. Recaro Aircraft Seating, which produces seats for airplanes, works in the former mode, as well as the divisions of the holding, which are engaged in the production of game and office furniture.
Recaro Automotive is not the only company in the automotive industry that is experiencing difficulties. The wheel manufacturer BBS, a supplier of Porsche, BMW, Mercedes-Benz and other car manufacturers, also filed for bankruptcy in the Rottweil court earlier. BBS has nothing to pay its employees, payments have been delayed for two months in a row. This is the fifth such situation for BBS - the company found itself in a difficult position in 2007, 2010, 2020 and 2023.
