Parts makers Visteon, Delphi also in dire straits in the US.
Economic Times (New Delhi, India), March, 2006
Byline: Lijee Philip
Mar. 29--MUMBAI, India -- Due to the auto industry slump, US components makers have take a big hit. Delphi, a leading parts supplier, filed for Chapter 11 bankruptcy in October last. Visteon, the second-biggest auto-parts supplier, is closing three plants and putting another six up for sale under its restructuring plan.
There have been reports in the international press that ThyssenKrupp may sell its US automotive division. Suppliers say the restructuring moves also are being forced by automakers that want suppliers to sell them parts at lower rates.
The US operations of the Toledo, Ohio-based auto-parts maker Dana became the latest victim by recently filing for Chapter 11 bankruptcy.
The bankruptcy filing does...
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