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[German auto parts manufacturer files for bankruptcy after 130 years of business] On September 13, it was reported that German auto parts manufacturer Prinz & Co. Stahlrohre declared bankruptcy after 130 years of business, and hundreds of employees were at risk of losing their jobs. It is reported that this family-owned company was founded in 1896 and currently mainly produces high-precision steel pipes and supplies car seats, airbags and hydraulic system-related parts to the world. Interim bankruptcy administrator Christian Holzmann said a combination of a prolonged slump in the European auto industry, sharp rises in raw material and energy prices, and a cliff-hanger in summer sales had led to the company's collapse.
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