Heuliez is holding partnership talks with Volkswagen Group

Article by Anita Panait, on April 19, 2013

French contract manufacturer Heuliez is holding discussions with Volkswagen Group over a possible partnership. A spokesman for Heuliez told Automotive News Europe that a partnership may entail providing manufacturing services to Volkswagen in exchange for components. A spokeswoman for VW Group confirmed that Heuliez is one of the suppliers the German carmaker works with but declined to comment further.

A French court recently placed Heuliez in receivership and gave the company six months to find a new investor under the supervision of a court-appointed administrator. Failure to find a new investor within the given period could send the contract manufacturer into liquidation.

French media have reported that two foreign investors are interested in investing in Heuliez, but only if the contract manufacturer reaches a deal with VW Group. The Heuliez spokesman, however, remarked that he knows nothing of any current discussion with potential investors.

Heuliez filed for bankruptcy on April 8, 2013 for the third time in the last four years after majority stakeholder Baelen Gaillard Industrie (BGI) disclosed it could not continue financing the struggling contract manufacturer. According to media reports, Heuliez also failed to get financing from the French government.

In 2008, Argentum Motors said it would invest EUR25 million for a 60 percent stake in Heuliez but deserted its bid after the global financial crisis placed its coach-building operations in India under pressure.

The Queveau family, heirs of the founder Henri Heuliez, ceded their entire stake in the company to a French bankruptcy court in April 2009 after failing to find fresh funding or partner. In July 2009, the court approved a plan by Bernard Krief Consulting (BKC) to restructure Heuliez but the company returned to bankruptcy court protection two months later after BKC failed to provide the promised financial resources.

Topics: vw

If you liked the article, share on:

Comments

Recommended

After the highly dynamic Polestar 1 two-door coupe – Polestar’s first ever production car -- was recently unveiled, not a few people’s curiosity was piqued as to how much they...
by - October 21, 2017
The BMW 7 Series is already highly sought after but nonetheless, the German marque is giving it a more exclusive variant for the Russian market, and they are calling it...
by - October 20, 2017
Several automakers including Porsche, Volkswagen, Smart and even Land Rover have all been victimized by cheap Chinese copycats. And if you haven’t seen it yet, the most recent one would...
by - October 20, 2017
The Mercedes-Benz G-Class has been around for quite some time now but to bid it farewell, the company has launched the Mercedes-AMG G65 Final Edition. Mercedes will only build a...
by - October 20, 2017
Have you ever wondered what you can you buy with $9,365 in your pocket? Well, you have quite a lot of options. In fact, you can even purchase a used...
by - October 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries