CORRECTED - UPDATE 1-Faurecia targets Plastal's German assets

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Mon Sep 28, 2009 12:07pm EDT

(Changes attribution in first paragraph to a bankrupty court-appointed official from bankruptcy court official)

* Faurecia looking at Plastal assets in Germany

* Other potential buyers looking at assets

* Deal expected by end-October

By Gilles Guillaume and Jens Hack

PARIS/MUNICH, Sept 28 (Reuters) - French car parts maker Faurecia (EPED.PA) is interested in buying the German assets of Swedish supplier Plastal, a bankruptcy court-appointed official told Reuters on Monday.

Asked if Faurecia was among the interested parties, Siegfried Beck, administrator of Plastal Germany replied "yes".

Beck said other potential buyers had also approached him, and added that he expected a deal by mid- or late-October.

A Faurecia spokesman declined to comment on whether the company was interested in Plastal.

"Faurecia is calmly but actively studying all the opportunities that come up, now and in the future, and does not wish to make any specific comment on these opportunities," he said.

Plastal, which generated sales of around 1.3 billion euros ($1.91 billion) in 2008 and has been owned by private equity investors Nordic Capital since 2005, was hit hard by the crisis that engulfed the automotive industry from the second half of 2008 onwards.

In July, Swedish bank Handelsbanken (SHBa.ST) took over Swedish, Norwegian and Belgian assets representing around 10 percent of the former Plastal group, which had filed for bankruptcy in March.

Faurecia's Chief Executive Yann Delabriere, has said repeatedly that the group, 70.8-percent owned by French carmaker PSA Peugeot Citroen Peugeot (PEUP.PA), would look at opportunities as the crisis-hit sector moved towards consolidation. [ID:nLL714676]

Faurecia is the world number three supplier of bumpers, while Plastal is also a specialist in external plastic components, with a particular presence in the premium car segment.

Plastal, which employs 1,900 people in Germany, counts German car manufacturers among its major clients. Faurecia, whose most important customer is Volkswagen (VOWG.DE), Europe's biggest carmaker, makes around 40 percent of its sales in Germany. (Reporting by Gilles Guillaume; Additional Reporting by Jens Hack; Writing by Helen Massy-Beresford, editing by Marcel Michelson)

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