Filing is kink in plans to build plant for Hyundai in Alabama.(News)(Chapter 11 bankruptcy affects contract for Venture Holdings Co. L.L.C.)(Brief Article)

Crain's Detroit Business, October, 2003 by Kosdrosky, Terry

Byline: Terry Kosdrosky Venture Holdings Co. L.L.C. owner Larry Winget is trying to salvage a $100 million deal to build a plant to supply Hyundai Motor Manufacturing Alabama L.L.C. The plant in Prattville, Ala., would employ 600 and be one of the largest tier-one suppliers to Hyundai's first manufacturing plant in the United States.

But Venture, which filed a Chapter 11 bankruptcy petition March 28, has been unable to get financing for the deal, according to bankruptcy filings. Another company owned by Winget is trying to get the plant built but "ran into the same financing problems,'' according to a motion filed by Venture on Sept. 11 in U.S. Bankruptcy Court in Detroit. In a motion filed Aug. 29, Hyundai said it wants the court to force Venture...

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