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Category:
Press » Automotive
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Chrysler's Motion to Reclaim its Tooling from Plastech is Denied
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Popularity: 
Views: 2082
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2008-02-20 03:36:48
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Chrysler LLC
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Today a Federal Bankruptcy Judge in Detroit ruled that Chrysler LLC cannot reclaim its tooling from Plastech. Plastech, a Tier I supplier of various interior, exterior and powertrain plastic components, filed for bankruptcy protection on Feb. 1 after Chrysler notified the supplier it had terminated its supplier contracts and was taking action to recover its tooling. The matter was argued in a two-day hearing in U.S. Bankruptcy Court.
Chrysler's statement, to be attributed to Chrysler spokesperson, Kevin Frazier, is as follows:
"We are obviously disappointed with this decision. We cannot provide further information at this time. However, we will continue to work with all parties to ensure that our plants continue to receive deliveries of parts."
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