A year after the takeover by Chinese investors, the automotive supplier has filed for bankruptcy
(Photo: Allgaier)
Stuttgart A year after the sale to a Chinese investor, the car supplier Allgaier-Werke has slipped into insolvency. The company from Uhingen near Stuttgart had filed for insolvency, the district court in Göppingen announced on Wednesday. Fritz Zanker was appointed provisional insolvency administrator by the Pluta law firm.
Allgaier supplies sheet metal parts to major car manufacturers, including Porsche, but is also active in toolmaking and process engineering. A Porsche spokesman did not want to comment specifically on the bankruptcy. However, it is known that the supply industry is currently facing particular challenges: “Against this background, effects on our supply chains cannot be ruled out.” Allgaier and Zanker could not initially be reached for comments.
The company is also known because it belonged to the family of former employer president Dieter Hundt until the sale of 89 percent of the shares to the Chinese Westron Group.
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