Parts Suppliers Running for Cover
On May 15, Chrysler initiated communication with 1,200 suppliers regarding its strategy to address pre-bankruptcy claims. During a recent court session, Chrysler presented a preliminary list of affected suppliers along with the corresponding claim amounts. These suppliers are expected to maintain their contracts with the newly formed entity following the sale of most of Chrysler's assets. It’s important to note that this list is not exhaustive, as Chrysler continues to engage with other suppliers interested in working with the new company. Among the suppliers slated to receive the largest payments are Continental AG from Germany and Johnson Controls based in Milwaukee. Both are anticipated to receive approximately $70 million each. Magna International from Canada is expected to receive slightly over $63 million. These suppliers will begin receiving around half of what they are owed in installments over the coming weeks. The remaining portion is projected to be paid out post-sale involving the Italian company, Fiat Group SPA. Chrysler has stated that it will negotiate disputed claim amounts with suppliers who contest the figures. Any objections will be reviewed by Judge Arthur Gonzalez during the court hearing scheduled for June 4th. In light of GM and Chrysler's financial challenges, Toyota has spent the last year exploring alternative suppliers to mitigate potential supply chain disruptions. By taking proactive measures, Toyota appears well-prepared for future obstacles. One way to gauge their preparedness is by visiting a local Toyota parts department. If you inquire about a specific part, the counter staff can inform you whether it’s currently backordered or readily available, as it typically has been. For those interested in related topics, here are some articles that might catch your attention: Each of these posts delves into different aspects of the automotive industry, providing insights into current trends and historical milestones. As the situation evolves, it remains crucial for stakeholders to stay informed about Chrysler's progress and the broader implications for the automotive sector. Whether you're a supplier, investor, or simply an interested observer, keeping tabs on these developments could prove beneficial in understanding the landscape ahead. Shaping Mill,Micron Powder Shaping Mill,Diamond Classifying Shaping Mill,Abrasive Powder Classifying Shaping Mill Mianyang Liuneng Powder Equipment Co., Ltd , https://www.lnpepowder.com