Italian automotive parts manufacturer the Proma Group has agreed to invest an undisclosed amount in car seat maker Recaro Automotive, rescuing it from the brink of collapse.
The German firm was approved for self-administration by the Esslingen District Court in Germany in July, placing its future – and production for car manufacturers – into doubt.
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Could it be that Raven Acquisitions has asset stripped and, are now dumping Recaro Automotive?