2024-09-22 01:57:21
Trim strips for VW and BMW often came from the supplier WKW. But that could soon come to an end. The company is apparently insolvent.
The automotive supplier WKW is apparently insolvent. Walter Klein GmbH & Co. KG and WKW Aktiengesellschaft filed for insolvency on Friday, reports the “Wirtschaftswoche”. WKW produces mainly decorative strips, but also functional components, roof rail systems, heat exchanger pipes for car air conditioning systems and aluminum profiles for industrial applications. VW, BMW and Mercedes in particular often rely on products from the Wuppertal-based company.
The company says it employs 3,800 people, most of them at its Velbert and Wuppertal locations. In 2022, it achieved sales of 591 million.
However, WKW has apparently been in crisis for several years, and the company was already on the verge of bankruptcy in 2022. At that time, the state of North Rhine-Westphalia stepped in with a guarantee. But the restructuring did not work as hoped.
Recently there was hope for a new rescue. At the end of June, press reports said that WKW’s shareholders had agreed on the terms of a takeover with a US investor. But the deal fell through, which is why insolvency now follows.