Automotive Newswire from BRG Townsend, Inc. reports that there’s another bidder in the fight to acquire Peguform, the last vestige of the former Klockner-Werke now owned by the Detroit-based Venture Group. Peguform filed for bankruptcy last June and was placed up for sale by Venture.
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Up for grabs are the company’s four manufacturing plants in France that mold automotive fascia, front- and rear-end modules, body panels, hood modules, exterior trim components, sealing, and greenhouse systems and lighting components.
Peguform employs some 1,350 people in four plants in France and last year had sales of about euro 160 million.
BRG reported on February 3 that Ontario-based Decoma had submitted a bid for the company estimated to be worth about $6.7 million USD. But Decoma suddenly isn’t alone in the bidding as Swedish auto parts maker Plastal has also submitted a bid, although it has held the figure confidential. Speculation is that it is higher than Decoma’s bid. Decoma has also agreed to pay an unspecified amount of money for work in progress and inventories that were not included in its original bid.
The Venture Group says the bidding will remain open until March 15, at which time it will sell the company to the highest bidder.
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