Recaro Automotive GmbH has been saved from bankruptcy. The Italian company Proma Group has signed an investment agreement with the German-based seat maker, and the pair have already begun the transition period to assume control of the business. Proma said it would retain several original employees to “ensure a more seamless transition of support to meet customer needs.”
Recaro will have aftermarket seats available again starting next month, which is when it will also transfer OEM production to Italy to begin building the first new seats. The German company filed for bankruptcy at the end of July after facing “significant financial difficulties,” and the company is suspected of having caused the Ineos Grenadier production stoppage a few months ago
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