German century-old plastics technology company files for bankruptcy due to industry downturn

Germany's historic Gerhardi Kunststofftechnik GmbH has officially filed for bankruptcy under the dual pressure of rising costs and shrinking demand. The future of its 1,500 employees is full of uncertainty. Since its establishment in 1796, the company has focused on the production of car grilles, door handles and chrome trims, and is a reliable supplier to companies such as Mercedes-Benz. However, the current downturn in the European automotive industry has brought this plastics manufacturer to an end.