The board of Wagon plc has announced that it is in discussions to acquire Oxford Automotive ApS.
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Oxford Automotive had an annual turnover of EUR530m in the 2005 financial year, compared with Wagon’s GBP450m (EUR657m).
Citing Oxford’s presence within automotive structures, particularly in large stampings and mechanisms, and its own existing capabilities within automotive structures, Wagon said that the combined group would be able to compete for larger projects with complete module capability.
The acquisition would be classified as a reverse takeover.
