The Commercial Court of Orléans (Loiret) validated Tuesday, May 29 the offer of recovery of AR Industries in Diors, near Chateauroux (Indre), by the English conglomerate Gupta Family Group (GFG), through its industrial subsidiary Liberty House. The latter undertakes to keep 380 of the 390 jobs at the last French car wheel factory. At the end of the hearing, the employee representatives said they were “relieved, but suspicious”. This judgment puts an end to a five-month suspense about the survival of this company which knows its fourth shareholder in ten years.
The buyer finally obtained firm commitments from the main customers of the plant, first PSA and more recently the Renault-Nissan alliance. This was the ultimate condition that GFG posed before realizing its takeover bid.
GFG wants to become an auto equipment supplier
Controlled by the Indian businessman Sanjeev Gupta, GFG is establishing an industrial pole within its subsidiary […]
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