Automotive supplier Cadence Innovation LLC has found buyers for its four bumper plants in France.
Paris-based Cie. Plastic Omnium has agreed to take over the plant in Vernon St. Marcel. The other facilities are being acquired by French auto component suppliers Groupe Faurecia of Nanterre and Sora Composites Group of Change.
Sora is taking over the Pouance, France, plant from Cadence, while Faurecia, linked with French carmaker Peugeot-Citroen, agreed to acquire the remaining two at Noeux-les-Mines and Burnhaupt-le-Haut, France.
The Plastic Omnium deal was accepted by the French Commercial Court in Evreux, France, because the plant is in compulsory liquidation, Plastic Omnium said. The acquisition will not involve any payment by the French group, it said. The Vernon facility, formerly known as Peguform, injection molds bumpers for various cars built by Renault and Peugeot-Citroen.