Takata Has Finally Filed For Bankruptcy Over Recall

  07/11/2017


The Takata airbag recall that’s been going on for months may finally be coming to an end. Japanese airbag maker T Corp., who owns Takata, has filed for bankruptcy protection in both Tokyo and in the U.S. after being overwhelmed by lawsuits and costs related to all the recalls of defective air bag inflators. Takata also confirmed that the majority of its assets are going to be bought by its rival, Key Safety Systems, which is based in Detroit for $1.6 billion.

And while the filing won’t cut any Takata jobs or close any of its facilities, the Takata corporate name may not live after the bankruptcy. Let us know in the comments if you think they did the right thing by filing.

Soure: WSMV

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