A 60M/Euros takeover plan has been put forward to French tableware group Arc International. The injection of the cash would help finance the restructuring of the group and the modernisation of its main production site at Arques, France. The takeover offer was led by PHP, an American investment structure founded by Tim Gollin, a former associate of One Equity Partners, as well as Cedrick Aymard and Didier Riebel in France, two specialists in business transformation. If accepted, PHP's proposal will maintain Arc's production and staff levels. It will also provide a full transformation of the mode of production, from a "push" model (driven by production) to a "pull" model (driven by client orders) with smaller production batches and an organisation geared towards "lean manufacturing." If accepted, the takeover will include investments aimed at upgrading plant and equipment at the Arques site. Arc's creditors, national and local public authorities as well as other debtors have reached an agreement for the restructuring of the firm's historical debt. The restructuring will improve the financial situation of the company. Arc warned that staff reductions will be inevitable due to the scale of the transformation. Mr Gollin said: "Arc International is an iconic French company. We strongly believe in the development potential of the company in France and abroad, though the unique know-how of its staff and the production of high-quality functional products with innovative design."
