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23rd October 2003, Page 13
23rd October 2003
Page 13
Page 13, 23rd October 2003
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EIGHT MONTHS after being placed in receivership. the French refrigerated trailer builder Chereau has been bought by the German firm Kogel.
Despite an impressive product range, Chereau ran into financial difficulties because of the cost of meeting the latest EC environmental standards, and the protracted legal process to transfer control of the Avranches, Normandy-based company from the late Jean Chereau to his son, Jean-Luc. Kogel's takeover is backed by the investment company Schoeller. Metternich and Brennecke, but the Ulmbased outfit will take direct operational control of Chereau.
Kogel and Chereau will continue to operate independently. but significant savings are expected from shared purchasing and aftersales operations.
Last year, the two companies achieved combined sales of over €450m with a combined workforce of 2,600. Kogel is counting on inheriting an increased presence in western and southern Europe, while introducing the Chereau brand to its own key markets of central and southern Europe.
In the UK Chereau was previously imported by Sinclair Refrigerated Bodies, based in Portsmouth,though that company relinquished the franchise earlier this year. Klaus Spooren, general manager for exports at Kogel says the new owners want "to form a joint trading company under the Kogel umbrella".
Page 13
If you've noticed an error in this article please click here to report it so we can fix it.
EIGHT MONTHS after being placed in receivership. the French refrigerated trailer builder Chereau has been bought by the German firm Kogel.
Despite an impressive product range, Chereau ran into financial difficulties because of the cost of meeting the latest EC environmental standards, and the protracted legal process to transfer control of the Avranches, Normandy-based company from the late Jean Chereau to his son, Jean-Luc. Kogel's takeover is backed by the investment company Schoeller. Metternich and Brennecke, but the Ulmbased outfit will take direct operational control of Chereau.
Kogel and Chereau will continue to operate independently. but significant savings are expected from shared purchasing and aftersales operations.
Last year, the two companies achieved combined sales of over €450m with a combined workforce of 2,600. Kogel is counting on inheriting an increased presence in western and southern Europe, while introducing the Chereau brand to its own key markets of central and southern Europe.
In the UK Chereau was previously imported by Sinclair Refrigerated Bodies, based in Portsmouth,though that company relinquished the franchise earlier this year. Klaus Spooren, general manager for exports at Kogel says the new owners want "to form a joint trading company under the Kogel umbrella".