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On August 1, Recaro also issued a latest statement, which stated: "The bankruptcy protection applied for by the German factory this time is based on local German law. The temporary administrator entrusted by the government will contact major stakeholders such as trade unions to ensure a fair and balanced restructuring process; the primary goal of the bankruptcy protection plan is to ensure the wages and salaries of employees."

Even those who have already ordered Recaro seats don't need to panic. "The German plant plans to maintain full production during the bankruptcy proceedings to continue to fulfill all existing orders and new customer inquiries. Shareholders emphasize the importance of the German plant to the group's European business and pledge to support the restructuring efforts," Recaro wrote in a statement.

Recaro Automotive's history dates back to 1906, when Wilhelm Reutter, 32, founded Wilhelm Reutter Automobile Carosserien in Stuttgart to manufacture carriages.

The company's earlyPorscheThe cooperation was very close. In 1938, he made a prototype for the Beetle designed by Ferdinand Porsche. Then between 1949 and 1965, he cooperated with Porsche to design the first sports car 356, which was founded after Mr. Porsche became independent, and manufactured body panels for them.

In 1963, Reutter sold the car body design factory to Porsche and turned to the design and manufacture of car seats. He used the first two letters of his last name Reutter and the first four letters of Carosserien to form the brand name of the seat - Recaro.

In 1969, the Recaro family sold Recaro to the in-laws Keiper, Huber and Wagner families due to financial difficulties. 14 years later, in 1983, the Keiper family bought the remaining shares, turned Recaro into a wholly-owned company, and renamed it Keiper Recaro GmbH & Co. This is why the word Keiper is included in the official logo of Recaro.

When Recaro was founded, it was committed to the research and development and manufacturing of car seats. After more than decades of development, Recaro seats have formed their own unique design style and product characteristics. Recaro has always insisted on making only one product and its unremitting pursuit of seat quality has won the trust of global car manufacturers and users.Aston Martin、BMW、Ford、Lamborghini、Mercedes Benz, and the public are its loyal customers.

With the continuous advancement of technology and the expansion of market demand, Recaro has also been constantly enriching its product line. In addition to professional car seats, it can be seen in many fields such as child safety seats, aircraft seats and even football field substitute seats. In particular, Recaro child safety seats are very safe and comfortable.

Not only Recaro Automotive, but also the famous wheel manufacturer BBS also fell into bankruptcy crisis a few years ago. BBS is a wheel manufacturer with a long history. It was founded in 1970 by Mr. Baumgartner and Mr. Brant in a small town called Schiltach in Germany, so the manufacturer was named after the initials of their names and the initials of the town.

Over the past few decades, BBS has brought countless iconic classic designs to everyone, such as RS, LM, E88, E50, etc., which are all the treasures that car fans dream of. Some products are even considered to be a perfect match for certain models, such as E30 and RS.

Although it looks glamorous, the company's career is full of ups and downs. In the early 21st century, the cost of raw materials rose, and BBS's performance gradually declined. In 2007, it declared bankruptcy due to insolvency and was acquired by the Belgian company Punch International. In 2012, it changed hands again, and was acquired by another holding company three years later. In 2021, BBS fell into crisis again because of the "mask" issue.

However, in the end, Klaus Wohlfarth, the founder and president of KW, successfully persuaded the bankruptcy administrator and investors through bidding and retaining the BBS brand, thus defusing the bankruptcy crisis of BBS. KW believes that players should be familiar with it. Their shock absorbers are one of the best modified shock absorbers you can buy on the market. There are also ST shock absorbers with a slightly lower positioning, LSD scissor doors, and professional e-sports racing cars RACEROOM, all of which are within the scope of KW's business.

However, recently, some foreign media reported that KW may abandon the BBS brand, but the official has not yet confirmed the news. According to statistics, in the first half of 2024, 20 German automotive parts suppliers with annual turnover exceeding 10 million euros have declared bankruptcy, an increase of more than 60% compared with the same period last year, in sharp contrast to the overall slight decline in bankruptcy rate in 2023.

It is true that the automotive industry is accelerating its transformation towards electrification and intelligence, which not only puts pressure on traditional automakers, but also poses severe challenges to auto parts suppliers. The high transformation costs, coupled with the low profit level of the electric vehicle business and the shrinking orders caused by the slowdown in the electrification process of European and American automakers have jointly exacerbated the financial tension of parts suppliers.

In summary, although car manufacturers can replace seats with those of other brands, new seats also need to be tested and matched, which will cost a lot of time and money. Therefore, I hope Recaro can find new investors and get through this difficult period safely. After all, Recaro is the "king of chairs" in the modification industry, and no one wants it to really disappear, right?