The deadline for a Chinese company to pay Wingham-based Wescast Industries a two million dollar good faith deposit has passed with no payment being made.
The company is trying to buy Wescast in a transaction worth 180-million dollars.
The buyer is looking to finance the purchase through the China Development Bank and was to have made the two-million dollar payment on Monday.
Wescast officials say the purchase agreement is still in force despite the missed deadline.
The sale would still have to be ratified by Wescast shareholders and approved by industry regulators and the Ontario Superior Court.
Wescast makes exhaust manifolds for cars and light trucks at its plants in Wingham, Stratford and Strathroy.
