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Getrag Transmission Manufacturing Llc
GETRAG Transmission Manufacturing LLC Files for Chapter 11 Protection
December 7th, 2008
GETRAG Transmission Manufacturing LLC (GTM LLC) has filed for protection under chapter 11 of the United States Bankruptcy Code for its Tipton, Indiana facility. The GTM LLC facility in Tipton was being constructed for the sole purpose of manufacturing dual clutch transmissions for Chrysler LLC (Chrysler). This action is a direct result of a recent termination by Chrysler of contractual agreements related to the construction and operation of a dual clutch transmission manufacturing facility in Tipton. Also as a result of Chrysler's actions, GTM LLC has been forced to terminate its operations in Tipton and cancel the project. The filing will enable GTM LLC to deal with...
Source: Pharma Investments, Ventures & Law Weekly (2008-12-07)
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