Recaro Automotive, the world’s oldest seat manufacturer, has been rescued from bankruptcy by the Proma Group, an Italian automotive parts supplier.
After filing for bankruptcy in early 2024, the company will now continue its operations with an investment from Proma, which will take control of the brand. In January 2025, Recaro will relaunch in Europe, with seat production moving to Italy, while operations in North America and Japan will not be affected.
This decision was announced through a statement from the Proma Group, which stated that the investment will allow Recaro to move forward during the transition, keeping some of its original employees, mainly in sales and technology teams in Stuttgart. Proma’s CEO, Luca Pino, emphasized that the investment aims to strengthen the company’s ability to provide premium products while incorporating innovations in the automotive sector.
Before Proma’s intervention, Recaro’s future was uncertain, especially after the bankruptcy and sale to Raven Acquisitions in 2020. Additionally, the brand had been linked to a halt in production of Ineos models, but the disruption was resolved.
Now, with the relaunch set for January, Recaro hopes to resume operations with a new phase of production and expansion.
Source: Car and Driver | Photo: Instagram @recaro | This content was created with the help of AI and reviewed by the editorial team
