Fulgor Actively Seeking Investors: UPDATED
Submitted by advisor on Fri, 06/19/2009 - 3:46pm.
Italian manufacturer Fulgor is actively seeking bidders to invest in, and recapitalize the company. Fulgor confirms that they are in discussions with multiple bidders.
Fulgor has of late taken the double hits of global economic meltdown PLUS the loss of most of its OEM business.
Fulgor is a manufacturer of built-in ovens and cooktops and was the "go to" supplier of American style self-clean ovens to the likes of GE Monogram, Thermador and Bosch. Fulgor continues to supply Spanish appliance giant Fagor (yes, Fagor is spelled correctly).
Fulgor entered the North American market under its own FCI brand, but changed its North American branding to "Fulgor" in August of 2008.
Fulgor USA president Joe Foster expects no production interuptions and that the negotiations will end positively for Fulgor and its customers.
Fulgor USA website
Fulgor Italy website
UPDATED July 13, 2009: We have confirmed that Fulgor's doors are closed, that all workers have been sent home, and that this has been the state of affairs for one month. Though Fulgor's production has completely stopped, there continues to be an effort to find buyer. More news when we get it.
UPDATED July 27, 2009: Fulgor sold to Meneghetti.
