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This is an archive article published on May 29, 2009

Two US auto part makers file for bankruptcy

Auto parts makers Visteon and Metaldyne filed for Chapter 11 bankruptcy protection for their US operations...

Auto parts makers Visteon and Metaldyne filed for Chapter 11 bankruptcy protection for their US operations,becoming the latest casualties of the global auto industry crisis. Both Visteon,which Ford Motor Co spun off in 2000,and Metaldyne,a unit of Japan’s Asahi Tec,said that the bankruptcy filings do not include their non-US entities or operations.

In a filing with the US Bankruptcy Court for the District of Delaware,Visteon listed total assets of $4.58 billion and total debts of $5.32 billion. Visteon said it filed customary “first day motions” with the court to ensure a smooth transition into Chapter 11.

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