Exterior body and trim supplier Decoma International Inc., a unit of supplier Magna International Inc., has bid $5.57 million to buy the fascia manufacturing business and assets of Peguform France, a part of the European operations of Venture Industries.
Managers of Peguform forced the unit into the European equivalent of bankruptcy protection in November, claiming it was unable to pay its suppliers as revenue was being directed to parent company Venture of Fraser, Mich.
Decoma of Concord, Ontario, said its bid covers four manufacturing plants in France, with 1,350 employees. Decoma said it would pay up to
$3.9 million for the operations' raw materials and finished goods inventory.