Progress made on sale of supplier Peguform

Boetzingen. Insolvency administrator Jobst Wellensiek hopes that the framework to sell the insolvent supplier Peguform will be in place by the end of the year.

Gerhard Amann, head of Peguform's general works council, believes that negotiations are going well for the supplier with annual sales of 1.6 billion euros. Last week the remaining six interested parties had a first look at the company's financial situation. "Now they will receive all the confidential figures," said Wellensiek. The negotiations are being held with three financial investors and three international corporations.

The sale of the plastic components specialist affects the German Peguform GmbH & Co. KG in Boetzingen as well as Peguform Spain with plants in Mexico and Brazil. The divisions up for sale have 6,500 employees, 5,500 of which are in Germany.

Tags: Suppliers

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