End of the road for car seat cover maker’s Bulgaria - leatherbiz: Lea Leatherbiz

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End of the road for car seat cover maker’s Bulgaria venture

24/01/2019
Canadian automotive supplier Exco Technologies was announced that its subsidiary company, South Africa-based Automotive Leather Company (ALC), has ceased car seat cover production at its plant in Bulgaria.

This comes after ALC Bulgaria filed a voluntary liquidation petition in the country. A trustee will now be appointed to liquidate the company, which specialised in producing leather seat covers for the automotive industry.

Exco Technologies explained in a statement that the liquidation filing was prompted by “ongoing operating losses” at ALC, which it said were driven by its failure to reach an agreement with its primary customer for “continued price support”. It added that local operating costs and the change in labour conditions in recent years has made ALC’s operations “unviable without improved pricing”. 


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