Auto parts supplier Diepersdorf Plastic Manufacturing has filed for bankruptcy, affecting more than 1,000 jobs, radio BR reported.
Diepersdorf Plastic Manufacturing, based in Bavaria, is a leader in its segment. It has been processing plastic materials for over 50 years and produces products for the automotive industry, such as logos, emblems, decorative parts, radiator grilles and covers for control systems. It has plants in Germany and the Czech Republic.
Bankruptcy is due to falling demand and rising raw material and energy prices. More than 1,000 employees at plants in Bavaria, Saxony and North Rhine-Westphalia are at risk of layoffs.
The German automotive industry is in crisis. On Monday, auto parts supplier Mahle announced it was cutting around 1,000 jobs. Bosch and ZF Friedrichshafen had already announced layoffs.