Squeezed German ingot producer seeks bankruptcy protection

Sep 30, 2005 | 04:13 AM |

German secondary zinc and aluminum ingot producer Greuter & Kerscher Metallhuettenbetrieb GmbH & Co. KG has filed for bankruptcy protection.

The company called in an insolvency administrator after it ran out of money because of mounting unpaid invoices by its die-casting customers.

The cash-flow problems occurred because the automotive industry has forced die-casters to accept payment terms of 60 days or more. As a result, die-casters have been paying their ingot suppliers on even longer payment terms, sometimes stretching to 90 to 120 days, according to market observers.....





Latest Pricing Trends

Poll

Are you stocking more inventory today than 18 months ago?

Yes
No


View previous results