Brussels - Recticel Interiors North America llc (RINA) and Recticel Urepp North America Inc. (RUNA), two automotive subsidiaries of Recticel - the Belgian polyurethane foam group, have applied for Chapter 11 bankruptcy protection in the US.
RUNA manufactures and markets interior trim for cars in the US using Colo-Fast Spray - which include light-stable polyurethane compounds and is also used by RINA in its trim for various models of European and American car and truck manufacturers, a 30 Oct Recticel statement said..
By law, RINA and RUNA, which employ a total workforce of around 250, now have three months in which to "reposition a number of contracts," Recticel said.
The company said the application for Chapter 11 protection will have no effect on the other activities of the Recticel Group or on the financial results for 2009, as the assets of RINA have already been written off. (RD)