Supply line.(Briefs)(Bankruptcy)(Brief Article)

Automotive News, February, 2006

Tower asks court to reject HQ lease

DETROIT- Auto parts supplier Tower Automotive Inc. has asked a U.S. bankruptcy court to reject the lease on its global headquarters in Novi, Mich.

Company spokesman Joel Weiden would not comment on the Feb. 10 motion but said: "There are no plans at all to move the headquarters.''

The lease is scheduled to run through Oct. 2, 2007. Tower pays $6,596.54 a month on the property. Bankruptcy court documents list Harrison Properties LLC, of Corydon, Ind., as the lessor. The rejection becomes effective Feb. 28 unless an objection is filed.

The filing doesn't include the headquarters of Tower's North American operations nearby.

Tower is the world's largest manufacturer of vehicle frames. It...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.