mastering-input.blogspot.com
The announcement came Monday, the same day that Delphi’x former parent, , filed for Chapter 11 bankruptcy, the same lega vehicle that Delphi used as protection from its creditorx whileit restructured. In the new agreement, Delphu -- which is one of GM’ws largest suppliers -- will sell assets to a Platinukm Equity LLCaffiliate and, with the supportf of a GM affiliate, will buy five Delphi including Delphi Thermal Systems in Lockport. The local plant, whichh has 2,100 employees, is the region’s largest and from 1918 until 1999 was partof GM. Generakl Motors will provide $250 milliom of pre-emergence liquidity through July 31.
In othedr news Monday, in one of the busiest and most momentous days forthe U.S. auto a bankruptcy judge approved the sale of to a new companty ownedby Fiat, U.S. and Canadian taxpayerd and retirees. The sale is expected on Friday. Accordin g to reports, a $2 billion cash payment to aboutr 45 banks and investment funds which willforgivw $6.9 billion in loans, and at least $8.9 billionb in aid to Chrysler has come from U.S. At least $4 billion of that moneyh will not be The closing is set forJune 15. The fate of 789 Chrysledr dealers isstill uncertain.
How much Chrysler owes all majort suppliers also is notfully
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment