After getting out of the Chapter 11 quicksand thanks to the new ownership, GST Autoleather is back to making investments. The US-based company specialized in the manufacturing of automotive upholstery has officially inaugurated its new production plant in China just a few days ago. The site, as reported by wardsauto.com, is located in the city of Jiaxing, about 80 kilometers south-west of Shanghai: it occupies an 17,200 square-meters surface and employs 110 people. The new plant (in picture) has initiated activities at the end of 2018, supplying finished leather to GST Autoleather’s clients in the automotive sector located in China, Japan, Korea and Russia. A Research & Development lab is present on site next to the production area. Randy Johnson, ceo of the US-based brand, explained during the ceremony (as reported by wardsauto.com), that “GST is in China to stay. The long-term relationships have always been important for a business’ success – continues the manager -. We are here for this reason and we are building industrial and social relationships”. With the new opening in China, the American company now has 14 locations worldwide. About a year and a half ago, GST was under Chapter 11 management with 196 million USD in debt. From that point forward and with very fast movements, a consortium of entrepreneurs gathered under the name GST Lender Acquisition Corp made an offer and acquired ownership in October of 208. After just a few months, the company managed to get out of receivership.
Image from wardsauto.com
