The Australian supplier of carbon-fibre wheels to the likes of Ferrari, Lamborghini, Chevrolet and Ford has announced it has entered voluntary administration, but will continue to operate while it restructures.
Carbon Revolution’s unique wheels can be found on the likes of the Lamborghini Temerario, the Ford Mustang Dark Horse SC and the Chevrolet Corvette Z06, in all instances being optional extras which weigh far less than the stock metal-based components.
In a statement to shareholders, Carbon Revolution plc said its wholly owned Australian subsidiaries – Carbon Revolution Pty. Ltd. and Carbon Revolution Operations – were entering voluntary administration, in a bid to save the business and get it back on track.