In recent developments, the Proma Group has decided to invest a substantial sum in the sports seat manufacturer, Recaro, and relocate its operations to Italy.
The process of moving production from Germany to Italy has commenced, but the company continues to hire workers in Germany.
Earlier, in early August 2024, Recaro filed for bankruptcy. The company is known for producing sports seats for high-performance cars such as the BMW M and Ford Mustang ranges. They also manufacture seats for trains, aircraft, and gaming chairs.
However, a few years ago, the automotive seat division was separated from the Recaro Group and became part of the investment company, Raven Acquisitions. Currently, the bankruptcy filing only applies to Recaro Automotive (the automotive seat division). This means that the divisions producing seats for aircraft, office chairs, gaming chairs, and children’s seats remain unaffected.
As Proma specializes in automotive parts, the acquisition of Recaro makes strategic sense. Under Proma’s ownership, Recaro will resume production from January 2025.
TH (Tuoitrethudo)
KTM, a prominent manufacturer of large-displacement motorcycles, is teetering on the edge of financial ruin.
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