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Flex-N-Gate shoots to buy Veltri remnants; Would pay $66.5M for assets; plants' futures unclear.

Publication: Crain's Detroit Business
Publication Date: 22-MAR-04 		Format: Online - approximately 544 words
Delivery: Immediate Online Access
Full Article Title: Flex-N-Gate shoots to buy Veltri remnants; Would pay $66.5M for assets; plants' futures unclear.(News)

Article Excerpt
Byline: Terry Kosdrosky

Flex-N-Gate Corp., which mothballed a plant in Warren last year, now is gunning for much of bankrupt Veltri Metal Products Inc.'s assets in a proposed $66.5 million purchase.

In Veltri, Flex-N-Gate is getting a company with a lot of new business in the pipeline, said an industry analyst. Troy-based Veltri manufactures chassis components and unexposed body structures for the auto industry.

Urbana, Ill.-based Flex-N-Gate proposed buying Veltri's Royal Oak plant, equipment from its New Baltimore plant and...

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