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Prinz & Co. Stahlrohre, a German manufacturer of precision steel pipes and automotive parts with a 130-year history, recently filed for bankruptcy.The company could not withstand the prolonged slump in Europe’s auto industry, sharp increases in raw material and energy prices, and weak summer sales. Analysts widely view this as a snapshot of the reality facing Germany’s auto industry amid its long-term decline.
Founded in 1896, this family-owned enterprise was a leading supplier of precision steel pipe components for automotive seats, airbags, and hydraulic systems to markets worldwide. Christian Holzmann, the interim bankruptcy administrator, diagnosed that this bankruptcy signals that liquidity crises…