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AUTOMAKERS' CRISIS * USA - Chrysler works to keep suppliers through bankruptcy
Plan filed to pay parts makers and retain after Ch. 11
Auburn Hills,MI,USA -The Detroit News, by Alisa Priddle -May 16, 2009: -- Chrysler LLC wants to transfer the vast majority of its supply base to a new company that will be formed from its proposed alliance with Fiat SpA... The automaker plans to use much of the $4.1 billion in financing that is keeping it going during bankruptcy to pay outstanding bills to parts makers and complete the transfers quickly... Chrysler is working feverishly to emerge from Chapter 11 bankruptcy before that funding, known as debtor-in-possession financing, expires around the end of June, 60 days after the company filed for bankruptcy on April 30... (Photo: Chrysler's headquaters)Labels: automakers' crisis
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