More Auto Bankruptcies

Friday, May 29, 2009
Posted in category Uncategorized
Comments Off

Two large suppliers, Visteon and Metaldyne, filed for bankruptcy yesterday.

Visteon once had 3,000 workers milling about nine buildings at Visteon Village. Now there are 1,600 and more than a third of the building space is vacant.

In Plymouth Township, Metaldyne once had three buildings but now is consolidating into one, said Township Supervisor Richard Reaume.

I suspect that American Axle (GM is its key customer) and Lear (which drew 42 percent of its 2008 revenue from GM and Chrysler) may be the next big ones to topple.

Be Sociable, Share!
Both comments and pings are currently closed.