Wilbur Ross, the billionaire New York financier, is close to buying the UK and European assets of Collins & Aikman for more than $1 billion (£570 million) as part of a grand plan to corner 15 per cent of the world’s car parts market.
Wilbur Ross and Associates, his investment vehicle, is considered the front-runner in the auction of Collins & Aikman’s European arm, the sale of which will be completed in the next 90 days. Mr Ross told The Times last night that if he wins the auction he will follow up with the acquisition of Collins & Aikman’s US assets. Collins & Aikman, a leading automotive acoustics and interiors manufacturer, filed for Chapter 11 bankruptcy in May.

Posted: 10|19|05 at 7:38 am. Filed under: UK News.