Entries tagged "auto parts"
In the automotive sector, changing suppliers is a pain in the neck. It even has an official term attached to it: re-sourcing. Re-sourcing can take weeks or months. It's costly. It's messy. And automakers will do just about everything they can to avoid it. Just look at the situation involving bankrupt Delphi Corp., a major auto parts supplier....
Rumors of a renewed interest from private equity firms in Continental AG sent shares of the German auto parts supplier 7% higher, making them Wednesday's second-biggest gainer on Germany's DAX, according to Reuters. ...
Looks like that whole auto parts turnaround is going to have to wait a bit longer. The days of the Chapter 11 filings of multibillion-dollar auto parts makers such as Delphi Corp., Collins & Aikman Corp., Dana Corp. and Tower Automotive Inc. do appear to be in the rear-view mirror. Two of them (Dana and Tower) have emerged from Chapter 11, one of them (Collins) has disappeared into thin air, and another (Delphi) is sitting at the finish line awaiting its exit financing. But there are still problems aplenty within the auto parts industry. ...
