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German media t-online reported that traditional German automobile supplier Eisenwerk Hasenclever has filed for bankruptcy. This is reported by “hessenschau”. The foundry company, based in Battenberg, Hesse, employs 840 people and supplies automotive parts to international car companies such as Daimler, BMW and Ford. The company is more than 250 years old.
Interim administrator Martin Mucha sees market turmoil, high energy prices and financing bottlenecks as reasons for the imbalance. The IG Metall union spoke of management failures as the company had a large order book. Eisenwerk Hasenclever & Sohn GmbH recently reported annual sales of €172 million, hessenschau reports.
(Source: t-online Image source: freepik)
