One week after Karmann USA Inc. launches a new business unit at its North American headquarters in Plymouth, MI, parent company Wilhelm Karmann GmbH declares insolvent its 60-year-old vehicle-assembly operations in Europe. Germanyâ€™s largest independent auto maker says it was required by law to file for insolvency because plummeting vehicle sales and deteriorating finances have left it unable to pay for a massive restructuring announced in September. Some 2,240 workers, about half of ...
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