Insolvency of the auto supplier Bohai Trimet: Harzgerode is fighting for jobs!

Insolvency of the auto supplier Bohai Trimet: Harzgerode is fighting for jobs!

In a worrying twist, the auto supplier Bohai Trimet, based in Harzgerode (Harz district), has filed for bankruptcy and is now urgently looking for investors. The responsible district court in Halle (Saale) has opened the proceedings, while the company continues to operate at its production sites in Harzgerode and Sömmerda (Thuringia). Despite this critical situation, insolvency administrator Olaf Spiekermann reports that the production lines are already running fully again.

The economic difficulties are not new. As early as October 2024, Bohai Trimet had to take unpleasant measures and cut jobs in order to avoid financial bottlenecks. A total of 678 employees are currently employed in Saxony-Anhalt and Thuringia. There is currently no talk of layoffs, which brings some relief for employees. The company has also been covering salaries since July, after the Federal Employment Agency previously supported it with insolvency money.

Background to the bankruptcy

The situation in the automotive supplier industry has noticeably worsened in recent years. Rising energy costs, coupled with the rapid switch to electromobility, have brought many companies into financial difficulties. Reports from t online According to the report, the uncertainty regarding future vehicle technologies – whether diesel, gasoline or electric – has made planning much more difficult for suppliers.

Bohai Trimet is a subsidiary of the Chinese group Bohai Automotive Systems and supplies, among others, big names such as Mercedes and Italian luxury brands. Despite several million euros invested by the Chinese owners in recent years, the company has not been able to achieve lasting success. The owners' withdrawal of a statement of comfort has increased concerns about financial stability.

Looking at the industry

Bankruptcies in the automotive supplier industry are also increasing GFL broker reported. In the first half of 2024, 20 companies have already filed for insolvency, almost doubling compared to the previous year. These developments affect over 10,000 jobs and cast a shadow over the entire industry. Managing director Marcus Sarafin is pessimistic about the future, as uncertainties regarding customer wishes are deeply rooted in the industry.

In the meantime, Bohai Trimet remains optimistic and is looking for new customers, including from other industries, to secure the company's future. Discussions with potential investors have already begun, but the process is proving to be lengthy.

What happens next for Bohai Trimet remains to be seen. The next steps could be crucial for employees and the entire region. It remains to be hoped that the company will find its way out of this crisis with a good hand and perhaps be able to get back on track soon.