National Machine car under the German subsidiary filed for bankruptcy

Beijing Daily News (reporter Liu Yang Liu Meng) September 16, the National Machine Automotive announced that the Company held its forty-seventh meeting of the Board of Directors approved the “Proposal wholly owned subsidiary of China National Automotive Industry Engineering Co. companies affiliated subsidiary Finoba Bavaria Germany filed for bankruptcy motion “, the German subsidiary Finoba Bavaria in steam engineering company, a wholly owned subsidiary, due to the sudden outbreak OEMs discontinued, it intends to reduce losses through bankruptcy ways to maximize.

It is reported that, Finoba Bavaria registered capital of 25,000 euros, was established in 2013, the main business of magnesium alloy dashboard bracket, including incoming inspection, automatic grinding, milling / boring, accessory assembly, factory prior to detection.

aspects of the country’s automotive machine said that as Finoba Bavaria will face funding strand breaks and weakness continuing operations of situation, in favor of its bankruptcy stop in time. Follow-up, Finoba Bavaria will fulfill bankruptcy proceedings in accordance with the German bankruptcy law, bankruptcy due to the above-mentioned loss estimated at between 1-2 million euros.