French Pelican Venture interested in acquisition of Siag France - report
Dec 21, 2012 - Pelican Venture, the holding company of French nuclear protection specialist Groupe Gorge (EPA:GOE), has submitted a bid for Siag France, a unit of German engineering firm Siag which produces masts for wind turbines, daily Les Echos said.
The commercial court of Chalon-sur-Saone will take a decision on the offer on December 28.
Pelican Venture is the only bidder for Siag France, which was placed under receivership on October 18.
The potential buyer has pledged to keep all the company's 82 workers.
Siag France generates an annual revenue of some EUR 20 million (USD 26.4m) and has a debt of several millions of euros. The unit's parent is also under receivership.
Pelican Venture aims to pursue its expansion in the renewable energy sector, after the acquisition a few months ago of French wind turbine mast producer Ceole.