Dilsen-Stokkem, December 10, 2024 – Alro Group has submitted a request for a judicial reorganization procedure. This request is a proactive and deliberate step to position the company more strongly for the future.
Strong foundation, challenging market conditions
Although Alro Group is currently operationally strong in the market and distinguishes itself in the value chain of its sector, external factors have put pressure on the company in recent months. The general macroeconomic context has led to a decline in production volume, particularly in the truck segment. The negative trend within the automotive industry is causing a disruption in our market: insourcing of work and decreasing popularity of certain electric models. Significant inflation and interest rate increases in recent years have additionally resulted in higher costs and pressure on margins.
Priority choice for stability and a sustainable future
The choice for this recovery plan reflects the management and board of directors’ commitment to addressing these challenges in a forward-looking manner. This step provides the space to take deliberate measures, intensify collaboration with partners, and optimize the use of internal resources. Management emphasizes the importance of its employees for the operational strength of the company and considers them a crucial pillar for the future. “We are taking this step to ensure the stability and continuity of the entire company,” says CEO Jan Craenen. “As a management team, we have consciously chosen a solution that paves the way for a sustainable future. During this recovery plan, we remain fully operational and are doing everything we can to provide the quality and service that our customers expect.”
