Manufacturing Industry
Suppliers hold breath after Delphi filing.
Plastics News, October, 2005 by Miel, Rhoda
Byline: Rhoda Miel Mold maker Rick Hecker's Eifel Inc. has survived more than 30 years in the auto industry, even as bigger players came and went. Now with the industry waiting for the final fallout from Delphi Corp.'s Chapter 11 bankruptcy filing, he is taking steps to try to ensure his 16-employee shop's continued survival.
While his Fraser, Mich.-based company is in decent shape now, it will take a serious hit if more of its customers falter. So Hecker will take advantage of a state law that allows toolmakers to place a lien on the molds they make, assuring they retain ownership until they receive full payment. Every mold heading out the door at Eifel in the future will have a lien placed on it. "I never had to do that before, but for our peace of...
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