Monaco plastic car component manufacturer Mecaplast International will buy French vehicle parts manufacturer Aries, for an undisclosed sum, following a decision by the French commercial court of Paris, the French News Digest reported.
Aries was put into receivership on November 25, 2002. Mecaplast will take control of four of the five Aries plants in France and all the subsidiaries abroad, except the one in Spain.
The company will employ some 90% of the 2,000 employees at Aries. Mecaplast will re-employ some 50% of the workforce at the headquarters in Poissy, near Paris but will close the factory in Izernore, southeastern France, and transfer production to other factories.
Mecaplast bought French plastics mould specialist Neyr Plastiques group on April 15, 2002.