This is an artical that has been going around for a little while. If you Google you'll find lots of version. This one has been copied from
http://translate.google.com/transla...&hl=en&ie=UTF-8&oe=UTF-8&prev=/language_tools
And translated using google
But even with the slightly questionable translation it looks bad for BBS.
The autosupplier BBS automotive technology AG in scold oh (circle Rottweil), one of the prominent manufacturers of light alloy wheels, placed insolvency request. As reason for the inability to pay the enterprise indicated the way breaking of a bank on Tuesday. A catching solution failed. The technology leader with high-quality light alloy wheels had still briefly before communicated the change at the point of the supervisory board. The former minister of economics of Baden-Wuerttemberg Walter Döring should replace Hans Peter Hirner (71).
BBS had communicated in August 2006 that the enterprise had to accept a result depression because of aluminum prices snapped the strongly up. The additional tax result sagged in the first half-year on minus 3.8 million euro. For the whole year 2006 BBS had expected a conversion of 200 million euro. The conversion of the yearly 2005 was with 189.8 million euro. BBS employs approximately 1200 humans in the company.
Although to the time of the filing of an application still promising negotiations were led to the re-establishment of the solvency of the enterprise, were the reason for the filing of an application that the society was come into serious liquidity difficulties and the end of the request period stood, was called after Paragraf 92 of the law on limited companies before the expiration it in the report of BBS.
A solution for the re-establishment of the solvency appeared last, which should be carried by the big customers of the enterprise. The promise of the big customers to make the necessary liquidity available by larger Vorfälligkeitszahlungen it was also given. The conversion of the concept failed however at the night to Tuesday because of the resistance of one of the banks involved, although the society granted for the purpose of the continuation of the financing collateral to the financing banks. A catching solution under excluding the bank concerned did not come therefore no more to conditions. (German Press Agency/in accordance with)
