Bankrupt auto parts supplier on the block

Collins & Aikman Corp., which filed for bankruptcy in both the U.S. and Europe earlier this year, is being sold off in pieces by its European administrator, according to Reuters.

Almost 2/3 of its European operations will be bought by investor group International Auto Components, which includes Lear Corp. The businesses employ 2,300 in Austria, Belgium, the Czech Republic, Germany, Netherlands, Slovakia, Spain, Sweden and Britain, with 2004 sales over $600 million. Customers include GM, Ford, VW, Porsche, Volvo and Saab.