Munich, Germany – Convertible roof manufacturer Edscha, a German company owned by U.S. private equity firm Carlyle Group, has filed for bankruptcy, according to Automotive News Europe.
The company produces convertible roofs, hinge systems and driver controls for most major automakers, including the folding hardtop for the BMW 3 Series. Edscha cited a slump in sales due to the global financial crisis.
The company said that the bankruptcy has affected only the supplier’s European operations. The company has 29 sites worldwide, with 22 manufacturing facilities, including one in Niagara Falls, Ontario. Overall, it employs about 6,000 people.