Auto Service World
News   March 30, 2006   by Auto Service World

Wilbur Ross not Finished Yet

Despite trouble in some sections of the auto-parts industry, bankruptcy guru Wilbur Ross has set his sights on even more distressed manufactures.
Ross announced yesterday he will acquire the European operations of Lear Corp.’s automotive interiors and plastics business by June 30, and that may only be the start.
In an interview with Bloomberg, Ross said: “almost every day, there is another supplier filing for bankruptcy. We are continuing to make acquisitions.”
Ross is a well-known veteran in the acquisitions business, compiling an impressive resume in many different sectors.
His current foray into the auto-parts industry is said to be part of a larger plan to reverse the large-scale diversification projects that the industry went through some 15 years ago.
“What you see happening at Lear is what you will see at the end of all of this, larger companies that are more narrowly focused. I think it is proper,” said Ross.

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