CVC sells Metzeler France to managers

Charleval, France - CVC Capital Partners has sold a French automotive profiles factory to a group of managers. A spokeswoman for the managers confirmed the story, but said it was not possible to add any more details for about a month.

Last month CVC sold the Metzeler operations in Germany, Italy, Poland and Belgium, and joint venture interests in India and China, to Cooper Standard Automotive.

CVC did not return calls and no-one was available to comment, but a report in French Newspaper Les Echos said the deal involves a single factory in Charleval (Département Eure) that employs 940. The company signed a deal with the unions earlier this year to reduce the workforce by about 300 jobs.

According to the Metzeler website, the Metzeler Automotive Profile Systems (MAPS) has a technical centre in Nanterre, and another factory in Villers la Montagne . It is not clear if these are also included in the transaction.

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Les Echos (France) story

Website of MAPS