Germany's century-old company Gerhardi Plastics Technology files for bankruptcy due to industry downturn

Gerhardi Plastic Technology, a German company with more than 200 years of history, recently filed for bankruptcy due to the continued downturn in the German automotive industry. The company was originally founded in 1796 and initially mainly produced metal products. Later, with the help of the booming European automotive industry, it successfully entered the automotive industry and became a supplier of the Mercedes-Benz Group, specializing in the production of plastic three-pointed star logos installed in the center of the grille of Mercedes-Benz cars. However, as automakers drastically cut production in response to weak sales and the difficult transition to electric vehicles, Gerhardi Plastic Technology officially filed for bankruptcy last month, making the future of its 1,500 employees uncertain.