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Three of those plants are on the west side of Michigan. Two factories are in South Haven and one is in Spring Lake.
But finding a buyer will be a challenge. Loans in the auto industry have been difficult to obtain. Deals for automotive assets have routinely fallen apart in recent months.
Noble has until May 31 to sell plants. At the end of May, the company's bankruptcy loan is slated to run out. That loan, totaling $10 million, has yet to be approved. The company still must negotiate with its lenders and customers, who are providing the loan.
Meanwhile, in court today U.S. Bankruptcy Court Judge Phillip Shefferly granted a short term, $2-million loan that will enable Noble to continue its remaining operations through next week.
The auto supplier has seven plants in the United States, and employs 1,000 people.
Noble's largest customers, General Motors Corp., Ford Motor Co. and Chrysler LLC have moved laser-welding work out of the company's four other plants, including one in Warren.
The company makes steel structures for vehicles that are used for doors, fender side panels and other parts.
Noble whose largest stockholder is steel giant ArcelorMittal S.A. last year reported sales of $374.2 million from continuing operations.
Noble told investors earlier this month that GM, Ford and Chrysler decided to move their business with Noble to other suppliers.
This week, Noble's CEO Tom Saeli and Chief Operating Officer Frank Sovis left the company.
It also received a warning from the Nasdaq exchange that its stock was at risk of being delisted.
Contact JEWEL GOPWANI: 313-223-4550 or jgopwani@freepress.com.
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