Interiors specialist Collins & Aikman Corp., which filed for US Chapter 11 bankruptcy protection in May, has received a takeover bid from Plastech Engineered Products Inc., a C&A spokesman told Reuters on Wednesday.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Closely held auto-parts supplier Plastech offered around $1 billion for the company in a letter to the Collins & Aikman board, according to media reports this week, the news agency noted.


“We will evaluate all legitimate offers as we continue to develop our business plan and then act accordingly in the best interest of our creditors,” Collins & Aikman spokesman David Youngman reportedly said.


Reuters noted that, if the deal goes through, Plastech, a Dearborn, Michigan-based company that makes plastic parts for car interiors, would be acquiring a company about four times its size.


Plastech had sales of about $1.1 billion in 2003, compared with the $3.98 billion in revenue Collins & Aikman posted in the same year, Reuters said, citing business information company Hoover’s Inc.

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.

Company Profile – free sample

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
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The news agency noted that Collins & Aikman has told the bankruptcy court and customers providing its interim funding that it will present a business plan by August 31.


Collins & Aikman, based in Troy, Michigan, is one of the largest US auto suppliers to seek bankruptcy this year, as auto industry production cuts, rising raw materials costs and high debt from acquisitions have hurt the parts maker, Reuters added.


The report added that the company’s former chief executive, David Stockman, former budget director under President Reagan, resigned in May as the company said it faced significant liquidity issues – days later, the company filed for bankruptcy protection in Michigan district court.