Auto components maker Key Safety Systems finished on Wednesday a $1.6 billion deal to acquire air-bag maker Takata Corp, whose faulty inflators caused the auto industry’s biggest recall and have been connected to at least 22 deaths across the world. After over than a decade of recalls, lawsuits and a criminal investigation which resulted Takata
EU antitrust regulators fined 5 car saftey devices makers an overall of 34 million euros ($40.0 million) on Wednesday for participating in cartels to fix prices for seat belts, air bags and steering wheels to Japanese automakers. The Commission, which supervises competition policy in the European Union, stated it had identified that 4 separate cartels
China’s FAW Car, a partner of Japan’s Mazda Motor will recall more than 680,000 Mazda automobiles due to problems with air bags that were provided by embattled Japanese automobile parts provider Takata Corp. The recall consists of Mazda 6 vehicles made in China from September 2008 and January 2016, China’s General Administration of Quality Supervision,
Trading in shares of Takata Corp was halted on Friday after the Nikkei business daily reported the embattled Japanese vehicle parts maker was getting ready for a possible personal bankruptcy filing for its U.S. unit to help protect a monetary sponsor. Takata, which has actually maintained financial investment bank Lazard Ltd as an adviser, has
Honda Motor informed on Wednesday that the driver-side airbag inflator burst during a deadly crash in Malaysia, in the 4th death this year in the Southeast Asian country linked to air bags from supplier Takata Corp. The occurrence on September 24 happened in Johor, a state in southern Malaysia, and concerned a 2009 Honda City.
South Korea stated on Wednesday that 13 automakers will recall about 110,000 cars geared up with Takata Corp‘s faulty air bags, the most recent advancement in a long-running safety crisis involving the Japanese company. The United States in May revealed a new round of recall of Takata’s air bag inflators which have been connected to
Honda Motor is recalling 668,816 cars in Japan that contain air-bag inflaters made by Takata, the most recent in a string of recalls of rupture-prone air bags connected to deaths and injuries across the world. The recall concerns 16 models of vehicles produced between 2009 and 2011. It consists of Honda’s best-selling Fit hatchback, the
Toyota Motor stated on Friday it had informed its U.S. dealers to disclose the identity of automobiles with defective Takata air bag inflators that will undergo recalls by 2018. Following the criticism by members of Congress, the company revealed a list of cars with inflators based on future recalls. They include the 2016 Toyota 4Runner
More automobiles have actually been included to the international recall of Takata airbag inflators as Ford has issued a security recall for various vehicles consisting of the 2007-2010 Edge, 2006-2011 Fusion, 2005-2011 Mustang, 2007-2011 Ranger, 2007-2010 Lincoln MKX, and 2006-2011 Lincoln MKZ, Zephyr, and Mercury Milan. These recalls addresses the front traveler air bag inflators.
Takata Corp. employed investment bankers to seek a cash infusion and work out with car companies over the ballooning costs it deals with for rupture-prone air bags connected to 11 deaths and more than 100 injuries globally. Takata tapped Lazard Ltd. to assist craft a restructuring plan to assist it handle exactly what are anticipated