Plastech Files for Bankruptcy Protection

[DockMan]

I won't miss them. They were a ruthless company. Julie Brown built a massive company very quickly on the backs of their suppliers and it is sweet justice that they have collapsed. A lot of people in the industry will suffer irreparable damage from this filing, but it will be good for the industry as a whole. As long as the companies that are left now refuse to whore themselves out that is. Anyhoo. Bad day for a a lot of good people and companies in the industry, but a good day for the industry in general. IMHO anyway.

http://online.wsj.com/article/SB120191689484637205.html?mod=googlenews_wsj

Plastech Files for Bankruptcy Protection
By Jeffrey McCracken and Terry Kosdrosky
Word Count: 421  |  Companies Featured in This Article: Dana Holding, General Motors, Ford, Lear

Plastech Engineered Products Inc., one of the country's largest minority-owned auto suppliers, filed for Chapter 11 bankruptcy protection Friday evening in Michigan., after efforts to negotiate a bailout package from customers apparently faltered.

Plastech was dealt a blow Friday when Chrysler LLC canceled its purchase orders with the $1.3 billion maker of plastic auto parts like center consoles.

Chrysler spokesman Kevin Frazier said the automaker, which was Plastech's fourth-largest customer, also began to take their tooling out of Plastech plants.

[wing]

Does that mean Chrysler will stop using that fisher price stuff?

[Leviathan]

Does that mean Chrysler will stop using that fisher price stuff?

One can only hope! Seems Chrysler might be serious about their new interiors if they aren't even using the same supplier.

[DockMan]

Does that mean Chrysler will stop using that fisher price stuff?

One can only hope! Seems Chrysler might be serious about their new interiors if they aren't even using the same supplier.

Plastech is production source only. The part design and materials used are fully at the OEM's discretion. Plastech would complete design only under consultation with and under the purview of the OEM's design and project management group for the respective vehicle program.