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Schmitz Cargobull UK may face MBO
Page 9
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A MANAGEMEN I buyout (MBO) is a strong possibility at trailer firm Schmitz Cargobull's UK plant as its German parent company ponders the future of the Harelaw, Co Durham operation.
Paul Avery, general manager at the factory, says the board of the parent company is assessing its business following a near collapse in sales across the entire European trailer market during the past two years.
"The German parent company has struggled and has been looking at several options to make savings across its production sites. It has nine production lines through out Europe, all making similar products, and with order volumes low, it is looking at consolidating its operations," he says.
An MBO for the UK arm is a strong option, says Avery, but the hoard will also consider keeping things as they are. He says closing the factory is not an option as the UK is the third biggest market in Schmitz group — it expects to make more than 1,500 units this year.
However, Avery did admit that scaling back the factory at Stanley could be on the cards