The Commercial Court of Grenoble has decided to entrust the company of Valentigney (Doubs) to one of its suppliers, the group of forge and foundry Farinia, one adds.
Farinia, which was the last buyer to compete after 4A Industrie’s sponge roll, initially had 58 redundancies out of a workforce of 316. After negotiations, the number of job cuts was reduced to 28, of which 21 were form of voluntary departures. The 180 temporary workers will also be taken back, one added. The transfer to Farinia, which does not take over the liabilities of the company, will be effective April 10.
Peugeot-Japy, which had been placed in receivership later than other subsidiaries of Maike, is the heir to more than a century of industry in France-Comté. The company started as a textile spinning factory of the Japy family before converting to cars with the Peugeot family, which remained the owner until the early 2000s.
It now manufactures gearbox parts, mainly for General Motors and PSA. The threats of social breakdown in what was presented as the nugget of the Maike group had caused a great deal of concern locally.