Plastech’s existence up to claimholders

[rickaren]

For those that have followed Plastech's downfall here (makers of many of Chrysler's poor plastic doors panel and inside parts like used in the Nitro) the end is near. I even suspect they manufactured the lifting roof rails used on the Nitro, but never have seen this confirmed.

Liquidation plan for firm awaits their approval

August 16, 2008

It was once one of the busiest automotive suppliers in North America, producing plastic interior and exterior components for some of the world’s biggest automakers, including several parts for Jeep.

But if claimholders approve a liquidation plan filed this week in U.S. Bankruptcy Court in Detroit, Plastech Engineered Products Inc. soon could cease to exist, and some of its creditors could wind up with little to show but unpaid bills.

Plastech filed for Chapter 11 bankruptcy protection on Feb. 1 as Chrysler LLC canceled its contracts and prepared to show up at Plastech’s factory doors and yank out its tooling over a pricing dispute. The dispute shut down production for several days at four Chrysler assembly plants across North America, including Toledo Jeep Assembly. Chrysler immediately filed suit asking for its tooling back, but the court sided with the parts maker, saying it had a right under the bankruptcy laws to continue its contracts with the automaker.

Before its bankruptcy, Plastech had 35 manufacturing facilities nationwide, employed more than 7,700, and was one of the largest-owned minority businesses in the industry.

LINK:toledoblade.com -- Plastech’s existence up to claimholders