Managing Automotive

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Managing Automotive

Air bag maker Takata to file bankruptcy this month: sources say

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Air bag maker Takata to file bankruptcy this month: sources say

Takata Corp, the Japanese company facing billions in liabilities stemming from its defective air bag inflators, is preparing to file for bankruptcy as early as next week as it works toward a deal for financial backing from U.S. auto parts maker Key Safety Systems Inc, sources said.  Takata, one of the world's biggest automotive suppliers, has been working for months to complete a deal with Key Safety.  A person briefed on the matter told Reuters Key was expected to acquire Takata assets as part of a restructuring in bankruptcy.

[Reuters]

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