Two potential buyers have emerged to acquire the troubled Holophane glassworks in France.
The American fund PHP (Peaked Hills Partners) - which bought the Arc International factory in Arques, France in previous years - and a consortium headed by Nicolas Riou, shareholder of the Riou Glass group, have been selected by the Evreux commercial court as potential buyers.
For clarification, the Riou Glass flat glass production and processing group is not involved in this project.
Each of the two selected companies will present their case in November as to why they should acquire the Les Andelys, France facility.
French automotive glass manufacturer Holophane requested to enter receivership after a spike in energy costs last year.
The glassworks based in Andelys, Normandy, France specialises in the production of automotive fog lights and optics.
It also said demand for automotive lighting had declined in recent years in favour of plastic, which enables lighter vehicles.
By being in receivership the company can protect creditors as well as possible while continuing to look for a buyer.
According to the receivership notice, it has 241 employees at the facility.
