Manufacturing Industry
Companies push Loranger to bankruptcy.(Delphi Automotive Systems, Visteon)(Brief Article)
Plastics News, January, 2002 by Miel, Rhoda
Delphi Automotive Systems Corp. and Visteon Corp. have forced Loranger Manufacturing Corp. into bankruptcy and have won court action to require the Warren, Pa., processor to continue producing parts for the firms. The two automotive supply giants, along with compounder Rodgers Engineering Corp., filed an involuntary Chapter 11 filing for Loranger on Nov.
19 at the U.S. Bankruptcy Court in Erie, Pa. A day later they sought an order compelling Loranger to continue making the parts needed to keep Delphi and Visteon plants running. Loranger officials blamed two problems familiar to other automotive industry suppliers: reduced sales volume and constant pressure to cut prices. ``It's basically cost us millions of dollars over the years,'' President George P....
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