Gerhardi Kunststofftechnik GmbH, a German firm that produced emblems for Mercedes-Benz, has declared chapter. The rationale was a drop in demand for its merchandise and the disaster within the European automotive trade.
The provider of Mercedes-Benz branded “stars” has declared chapter. The German firm Gerhardi Kunststofftechnik GmbH failed to deal with the challenges confronted by the fashionable European automotive trade because of the fall in demand for electrical autos. The corporate, based in 1796, survived two world wars however went bankrupt in 2024. This was reported by Bloomberg, in line with UNN.
Particulars
Gerhardi has declared chapter after a chronic drop in demand for its merchandise. What’s going to occur to its 1,500 staff is at the moment unknown. The corporate started its journey greater than two centuries in the past with the manufacturing of metallic merchandise, after which entered the automotive trade and provided star emblems for Mercedes-Benz sedans.
Germany's Gerhardi Kunststofftechnik GmbH has survived Napoleon's invasion, the Nice Melancholy, and two world wars. However the present downturn in Europe's automotive trade has introduced the plastic producer to its knees
– Bloomberg writes .
It’s famous that final month, after an extended interval of rising prices and falling demand, the corporate declared chapter, leaving 1,500 of its staff unemployed.
Different suppliers are additionally pressured to chop manufacturing amid falling automobile gross sales. For instance, the French Forvia SE (a provider of components for Volkswagen and Stellantis) is chopping hundreds of jobs, the German Webasto SE has accrued money owed price a billion euros, and the massive Swedish battery producer Northvolt AB can be experiencing monetary difficulties. With additional layoffs at Volkswagen, Stellantis, and Ford, the scenario is bound to worsen.
Curiously, Gerhardi will not be the one producer of Mercedes-Benz stars to go bankrupt in recent times. In 2022, this occurred to BIA Forst. It produced emblems that had been put in vertically, for instance, on the S-Class.
Recall
Europe's largest automobile producer Volkswagen is planning to shut at the very least three German crops, reduce tens of hundreds of jobs, and scale back wages by 10 p.c.