Belgian entrepreneur Guido Dumarey has announced a recent bid for the struggling bus manufacturer Van Hool, which has filed for bankruptcy. This time, he has formed a partnership with the US company ABC Companies, the largest customer of Van Hool in the United States. The bankruptcy announcement on Monday created uncertainty about the future of the company, leading to the acquisition of certain parts of the business by Dutch bus manufacturer VDL Groep and German trailer manufacturer Schmitz Cargobull. However, these takeovers are expected to result in at least 1,500 job redundancies.
Dumarey had previously proposed a bid last month, but later withdrew it. His initial offer aimed to retain bus production and 1,800 jobs in Koningshooikt, Belgium. However, he withdrew the proposal when asked to extend it, citing the high price for the total contents, particularly due to soil contamination at Van Hool’s premises.
Guido Dumarey has a track record of revitalizing struggling companies. He is the founder of Punch Powerglide, an industrial group with factories in France, Italy, and the UK, employing 3,500 people. Furthermore, he acquired the UK manufacturer of smaller buses, Woodall Nicholson, which faced challenges.
In a recent statement, Dumarey shared his vision for the future of Van Hool, emphasizing the preservation of the company’s craftsmanship. Over the weekend, ABC Companies approached Dumarey with the idea of a joint bid. The companies have joined forces, with ABC Companies representing 40 per cent and aiming to acquire 60 per cent for the bus division in America and Macedonia. In Belgium, their interest lies in the service department, research & development department, and after-sales operations.
Dumarey’s plan is to focus on the profitable activities of building coaches, primarily manufactured in Macedonia and sold in the US and globally. He is committed to ensuring that ABC Companies has access to everything it needs, with a focus on maintaining the necessary volumes in Macedonia. While acknowledging the challenges at Van Hool’s current site, Dumarey intends to establish a local activity, exploring potential locations within a 20-kilometre radius or developing infrastructure.
Compared to Dutch bus builder VDL, which is also interested in the same activities, Dumarey believes his bid has the potential to generate more jobs. It is crucial for the receivers to carefully consider the best solution for creditors and the company as a whole, as highlighted by Flemish Economy Minister Jo Brouns. The decision-making process is under tight time pressure, and the receivers are expected to make a decision soon.
As the fate of Van Hool remains uncertain, the outcome of the new bid by Guido Dumarey and ABC Companies remains to be seen. The intricate details of the bids, their potential impact on employment and the company’s future, as well as the rigorous evaluation by the receivers, will determine the next chapter for the iconic bus manufacturer.