Home appliance manufacturer up for grabs

Image : shutterstock

FagorMastercook is looking to sell its Wrocław plant for a price of PLN 315 million. The Spanish cooperative, Fagor, has been producing appliances in the factory, formerly known as Wrozamet, for over 12 years. The Polish affiliate, FagorMastercook S.A., filed for bankruptcy in a Spanish court last year.

In the near future, a tender announcement will be published in Polish and Spanish periodicals as well as in the EU Bulletin.

According to FagorMastercook receiver, Teresa Kalisz, “the decision to sell will not be motivated solely by the best offer. The investor’s plans regarding the existing workforce, existing contracts, and relationship with the firm’s creditors will all be taken into account.”

FagorMastercook ceased production in October of 2013 due to financial trouble back in Spain, at Fagor Electrodomésticos. A Polish court deferred liquidation of the factory in order to allow for a takeover by a new investor. The Wrocław plant employes 900 workers.

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