KSM Castings has become the second German diecaster to start administrative proceedings due to Covid-19, with the company filing for bankruptcy on July 2, sources close to the matter told Fastmarkets.
Fastmarkets understands the company, based in Hildesheim, Germany, began voluntary administration proceedings at Hildesheim District Court in a bid to restructure and reposition itself in what many participants consider will be a challenging post-coronavirus secondary aluminium market."KSM... have announced a special 'protective shield procedure,' that...