French subsidiary of UK automotive Group facing product technology obsolescence and cliff edge of no new business tier 1/OEM contract wins.
Actions and results
- Reviewed strategic options with client resulting in decision to close the company
- Supported HR restructuring partner in negotiations with Comite d’entreprise on Livre I and Livre II, reaching agreement within 10 weeks of formal announcement of closure decision
- Managed end of supply relationship and transfer negotiations with each client
- Managed transfer of 10 assembly lines, component tooling and injection presses to several new supply partners
- Manufactured 2-3 months of finished product and component buffer stocks (value: €2m) in addition to existing customer demand to facilitate line transfers
- Managed “soft landing” for end of company’s activities; closure costs within agreed budget of €10m