German group REGE Motor Parts, which owns a factory with over 250 employees in Brasov and produces car components for Continental, General Motors, Fiat, and Ford, has entered insolvency and is looking for a buyer that, ideally, could take over all its factories.

Two years ago, the group was bought by Amtek Auto, one of the largest integrated manufacturers of auto parts in India.

The factory in Brasov is profitable, but insolvency involves restructuring, reports local Profit.ro.

“We’ll soon start an international bidding process. Many investors have already shown interest in taking over,” said the company’s lawyer Ruediger Weiß. The group is looking for an investor that could take over all the factories with all the employees, including the one in Brasov.

The group has three factories, in Eisenach, Witzenhausen, and Brasov, where about 1,100 people work. The Brasov plant, which is the group’s only factory outside Germany, has about 250 employees.

editor@romania-insider.com