Auto slump, rising costs drive Dura to Ch. 11 filing
Oct 30, 2006 | 10:56 AM
| Philip Burgert
Components supplier Dura Automotive Systems Inc., Rochester Hills, Mich., has filed for creditor protection under Chapter 11 of the U.S. Bankruptcy Code. The company blamed an accelerating deterioration of the North American automotive industry, including escalating raw materials costs, for the decision.
Analysts had warned earlier in October that the specialist in automotive control systems and body parts, including aluminum and steel door assemblies, was at risk of a bankruptcy filing after the company missed a required note payment (AMM, Oct. 18).....
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