Business Services Industry
Plastics suppliers for sale; But funds to buy them are hard to come by.(Visteon Corp. spun off businesses)(Delphi Corp., Collins & Aikman Corp., seeking Chapter 11 bankruptcy protection)
Crain's Detroit Business, March, 2006 by Miel, Rhoda
Byline: Rhoda Miel The turmoil shaking through North America's automotive supply industry is putting huge players in the plastics industry up for sale and raising one big question - who, exactly, is in the fiscal shape to invest in them? Troy-based Collins & Aikman Corp., with $4 billion in annual sales, is seeking its best exit strategy from Chapter 11 bankruptcy protection.
Southfield-based Lear Corp. is seeking alternatives for its interiors production, worth more than $1 billion. Van Buren Township-based Visteon Corp. spun off more than $7 billion worth of business to create Automotive Components Holdings LLC, controlled by former parent Ford Motor Co., which is seeking buyers for the operations. Those three firms alone represent more than $3...
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