The diesel affair of the German carmaker continues to cause losses in the entire industry. Now the supplier TQM has been hit.
The Heilbronn-based auto supplier Tianjin Motor Dies Europe GmbH (TQM) with around 150 employees has filed for insolvency. The responsible district court in Heilbronn then initially appointed a provisional insolvency administrator, as a court ruling on Monday that became known on Tuesday shows.
The provisional insolvency administrator Dietmar Haffa justified the step with reference to company information with lost sales. These in turn are related to the so-called diesel gate, which would have led to persistent losses and ultimately to insolvency. Diesel vehicles are criticized for their comparatively high pollutant emissions, which is why car manufacturers are increasingly relying on other drives for their new models.
Specialist in car tools
The company was reportedly founded in 2013 and took over the business of the insolvent toolmaker GIW. TQM has specialized in the construction of tools for the automotive industry and, according to Haffas law firm Schultze & Braun, has turned over an average of 20 million euros annually at the Heilbronn location in recent years.
The salaries of the employees will now initially continue to be paid through the state insolvency money through February 2021. Haffa announced that it wanted to find new investors for the automotive supplier.