Korean Company Sambo Motors Co. Ltd has taken control of German tuning company Carlsson. The Korean company has promised further investment for the Saarland Merzig company and has sought to reassure Carlsson’s employees that their jobs are secure. Sambo was one of four bidders to made a binding offer during the insolvency process.

Carlsson entered into liquidation in April this year following a poor year of sales. It managed turnover of 30 million euros in 2013 and 18 million euros in 2014, however, sales had slumped by almost 12 million euros and it was felt that the company could not continue to trade. At that time, Chinese auto retailer Zhongsheng Group Holdings Ltd owned 70% of the company.

Despite insolvency, the German company was allowed to continue to trade and had a strong presence at the Frankfurt Motor Show 2015 earlier this year. Remarkably, there have been no redundancies.

Insolvency administrator Dr. Robert shift said: “Carlsson is a strong brand in the automotive finishing industry. For Saarland, the company is an important image vehicle and a model company in the automotive industry, which was also evident at this year’s IAA in Frankfurt. With Sambo motor, a financially and internationally well-established suppliers, the jobs and the future of Carlsson are secured.”

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