German tuning company Carlsson has been saved from insolvency thanks to Korean Company Sambo Motors Co. Ltd, GTspirit reports.
In April 2015, Carlsson entered liquidation after experiencing a massive drop in sales as well as declining turnover. As a matter of fact, the company’s turnover fell from 30 million euros in 2013 down to 18 million euros in 2014. Under the helm of Chinese auto retailer Zhongsheng Group Holdings Ltd who previously owned 70 per cent of the company, it was decided that Carlsson couldn’t remain operational at its existing sales levels.
The new Korean owners of Carlsson has promised the tuner’s workers that they won’t lose their jobs. At this stage, it remains to be seen how much Korean Company Sambo Motors paid for a controlling stake in Carlsson nor just what per cent that stake is.
Discussing the news, insolvency administrator Dr. Robert Shift said: “Carlsson is a strong brand in the automotive finishing industry. For Saarland, the company is an important image vehicle and a model company in the automotive industry, which was also evident at this year’s IAA in Frankfurt. With Sambo motor, a financially and internationally well-established suppliers, the jobs and the future of Carlsson are secured.”