Car parts maker Eybl International has declared bankruptcy, noting that the future of its production sites in central eastern Europe was still to be determined.
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Takeover talks with the Slovenian Prevent Group failed and the company lacked liquidity owing to the crisis in the car industry so Eybl filed for receivership and said 600 staff in Austria faced layoff, German press agency dpa said.
Eybl’s 4,100 employees make textile and leather interiors for cars in Austria, Germany, Hungary, Slovakia and Romania.
A task force would determine in the coming days how the plants would be affected, chief executive Otto Zwanzigleitner told dpa. ‘We aim for continuing our business in all branches,’ he said.
In June, Eybl’s debtors agreed to bail out the company that finished the 2007/08 fiscal year last March with a net loss of EUR45.9m (US$66.3m).
Eybl has completed its restructuring plan and is not excessively indebted, Zwanzigleitner said. “We are simply lacking cash,” he told dpa.
