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Oxford to Sell North American Facilities

TROY, MI-A bankrupt Tier I supplier of stamped components and assemblies is selling a half-dozen US plants, including two in Michigan and two more in Indiana.

By Dan Heaton | Updated on December 08, 2004

TROY, MI-Oxford Automotive has filed for Chapter 11 bankruptcy protection, has sold one of its North American plants and plans to sell the other five facilities. The company expects to emerge from bankruptcy to focus on its European operations.

Troy-based Oxford says it is in negotiations relating to the sale of plants located in Corydon and Greencastle, IN; Lapeer and Prudenville, MI; and Canton, MS. Oxford says it anticipates selling these plants through a court supervised “363″ sale process to ensure Oxford receives the highest and best offer for the plants. Oxford provides stamped components and assemblies to the automotive industry.

Oxford also says it has closed on the sale of its McCalla, AL facility to Madrid, Spain-based Gestamp Corporation. The purchase price was not disclosed.

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