On 30 August, the management board of Boryszew S.A. announced plans to carry out a due diligence investigation of a yet-undisclosed automotive company.
"The Management Board of Boryszew S.A. informs that the company has been admitted to due diligence examination of the company from automotive branch and its subsidiaries on the not-binding offer.
Due diligence refers to the laws, accounting and tax information and documentation of the company.
Value of the company and its subsidiaries exceeds 10 % of the own capitals of Boryszew S.A."
According to media reports, the supplier is the Italian Cablelettra Group (a supplier of wire bundles), which was declared bankrupt in the first half of 2009. Cablelettra’s major customers include the Fiat Group. The company has 16 plants in Italy, Poland, China, Brazil and Tunisia.
