French Borbet Facility Applies for Insolvency
For the past five years SRF S.A. in the eastern French town of Soultzmatt has belonged to wheel manufacturer the Borbet Group. With a capacity of only around 500,000 alloy wheels per year the factory was indisputably the smallest Borbet operated, and the facility has now applied for insolvency.
Company chief Peter Wilhelm Borbet has expressed his regret regarding the 154 employees affected by this action, however he noted the facility’s operation has been subsidised by Borbet ever since it came under the German firm’s ownership. Borbet added that, in view of the crisis affecting the automotive industry – which suppliers such as Borbet also cannot escape – the company was faced with no other alternative. Whether production will continue at the site is now an issue for the liquidator to decide, yet it seems likely that existing orders can be processed.