Wagon Automotive has confirmed it is selling five low-tonnage stamping plants in the UK and France as part of a programme to integrate Oxford Automotive, which it acquired earlier this year, into its business.
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The plants for sale are in Tyseley and Wantage in the UK and Beaucourt, Bessines and La Souterraine in France, and employed 948 people on 31 March this year.
Wagon Automotive currently employs a total of 7,600.
The plants are being sold to SONAS, a company that is wholly owned by David Cardwell, Christopher Ross and Jeffrey Walker. David Cardwell was formerly the business group director of the metal components business group of Wagon plc.
The transaction requires shareholder approval, which will be sought on 4 December at an extraordinary general meeting.
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