PARIS (Agefi-Dow Jones)–The car manufacturer Renault announced on Monday that it has selected the private equity firm specializing in corporate restructuring Callista to take over its Fonderie de Bretagne factory in Morbihan.
“As part of the research process initiated by Renault Group, and intended to ensure the sustainability of activities on the Caudan site and to preserve jobs there, the Callista company has submitted a draft firm offer that Renault Group has decided to present to the representative bodies of Fonderie de Bretagne”, the group said in a press release.
“The industrial project carried out by Callista, whose head office is based in Munich, corresponds to the commitments made by Renault Group to achieve profitable operation of the site, in particular thanks to massive investment, a restoration of competitiveness and an ability to diversify. and identify new markets,” he added.
The project provides for the maintenance of the level of jobs, also specified Renault. The manufacturer had launched in early 2021 the search for a buyer for the site, which must diversify and reduce its costs in order to ensure its future, according to a strategic audit carried out in 2020.
Established in 1965, the plant produces raw and machined castings for the automotive industry. It had around 300 employees at the end of 2021.
-Francois Schott, Agefi-Dow Jones; 01 41 27 47 92; [email protected] ed: LBO
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July 04, 2022 12:53 ET (16:53 GMT)