AUBURN HILLS, Mich. (April 20, 2010)—Recticel Interiors North America L.L.C. and Recticel Urepp North America Inc., U.S. automotive subsidiaries of Belgian foam producer Recticel S.A., will exit Chapter 11 bankruptcy protection on April 23.
The Recticel units filed for bankruptcy protection on Oct. 30, 2009, with the Eastern District of Michigan bankruptcy court. The move came following the impact of the global economic crisis on the automotive market in the U.S., the firm said.
The filings largely were caused by unfavorable contracts with major customers Johnson Controls Inc. and Inteva Products, which account for around 80 percent of Recticel Interiors sales