Swedish auto industry supplier Plastal Holding AB said Thursday it has been forced to file for bankruptcy due to the sharp decline in demand in the carmaking industry.
The company said it has been hurt by reductions in its customers' production volumes, as well as by problems in the credit market, which has made it impossible to finance customer debt.
Plastal spokesman Tunde Oyedeji declined to give further details about the cause of the bankruptcy or whether outstanding payments from carmakers were part of the problem.
The company _ owned by Swedish private equity firm Nordic capital _ supplies engineered plastics to the automotive industry and …
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