Ross's plan: Europe now, US next year; He says US assets will be cheaper starting in 2007.(Suppliers)(Wilbur Ross, International Automotive Components Group)

Automotive News Europe,  August, 2006  by Barkholz, David; Sherefkin, Robert

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Byline: Robert Sherefkin, David Barkholz

Financier Wilbur Ross expects a fresh wave of bankruptcies among North American suppliers will create buying opportunities for him in 2007.

While he waits for a North American shakeout, Ross says he will concentrate on building his supplier conglomerate in Europe.

Last month his International Automotive Components group agreed to buy Lear's European interior systems business.

He says antitrust regulators have cleared the transaction, and he expects to close the deal in September. Last year, Ross and Lear jointly agreed to buy ...

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