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More auto supplier insolvencies seen ahead
Mon, Dec 15, 2008
Reuters

BERLIN (Reuters) - Some 80 automotive suppliers around the world could be facing insolvency in the near future, German weekly Automobilwoche cited consultancy Roland Berger's industry expert Marcus Berret as saying.

In an article to be published on Monday, the magazine also cited German supplier ZF Friedrichshafen's Chief Executive Hans-Georg Haerter as saying in particular companies that were bought by private equity firms could face trouble ahead.

"It will be very sobering for many suppliers when the bills for October, November and especially December are paid in coming weeks," Haerter said.

UK supplier Wagon Automotive and Germany's TMD Friction and Tedrive have already said they would file for insolvecy for parts of their companies.

 

 
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