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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: TH	10/30/2006 9:28:44 AM
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Sorry, but I cannot provide a link. You can go to autonews.com and register if you need a link. GT TH For October 30, 2006 From the newsroom of Automotive News Dura files for bankruptcy protection NEW YORK (Reuters) -- Dura Automotive Systems Inc. today said it and and its U.S. and Canadian subsidiaries had filed for Chapter 11 bankruptcy protection, citing production cuts by major U.S. automakers and escalating costs of raw materials. The auto parts maker said its European operations and others outside the United States and Canada were not part of the filing. Those operations account for about 51 percent of the company's revenue. Dura said it had requested, and expects to receive, permission from the court to pay employee salaries, wages and benefits. Dura, of Rochester Hills, Mich., ranks No. 65 on the Automotive News list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $2.34 billion in 2005. story To view other breaking news stories throughout the day, visit autonews.com

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