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. Germany’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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