September 07, 2012

Technicolor's French plant gets one month lifeline

The Commercial Court of Nanterre, France, has extended the receivership period for Technicolor's plant to October 11, delaying the courts decision on whether to liquidate the company or not.

The plant, which went into receivership in June 2012, gets an extended receivership period and offers the company a chance to review two formal recovery plans.

Eolane is interested in producing components on the Technicolor's Angers site reports usinenouvelle.com. However the company is yet to finalize a letter of intent. The Minerva group is also interested in the plant.

Both must finalise letters of intent before October 11 when the court will decide on whether to liquidate the plant or continue forward with a proposed acquisition. 350 workers await the decision anxiously.
Read comments for this article

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
blog comments powered by Disqus
Load more news