Media reports indicate that the German division of automotive parts maker Peguform has failed to avoid insolvency after filing for bankruptcy earlier this year.
Go deeper with GlobalData
However, administrators are reported to have secured significant investment to guarantee the company’s production until the end of 2003.
Peguform lists Volkswagen Group and BMW among its main customers and is a supplier of plastic interior and exterior parts such as front-end modules and cockpit components.
The administrator is reported to have said that the aim of the insolvency procedure is to provide a secure future for the company’s 5,500 employees, although further restructuring or rationalisation is possible. Reports say that a number of potential buyers have expressed interest.
Peguform operations in other countries are continuing to trade normally as part of the Venture Industries Group.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
