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.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here