Recaro Automotive Saved From Insolvency With Strategic Investment From Proma Group

A strategic investment from the Italian automotive components specialist Proma Group has spared the illustrious German maker of sports seats for vehicles, Recaro Automotive, from insolvency.

Automakers like Ineos Grenadier, who rely on Recaro's high-performance seats, had to rethink their production plans after the company's bankruptcy announcement this summer. Vehicle manufacturing came to a brief standstill as a result of this.

But things are looking up for Recaro now. In addition to providing financial support, Proma Group has assumed ownership of the German firm. The revised timeline aims to manufacture the first batches of Recaro seats in Italy in January 2025.

"This investment solidifies our position in the premium automotive sector, enabling the incorporation of the most cutting-edge technologies into the production of seats," stated Luca Pino, CEO of Proma Group.