Takata Selects KSS As Final Bidder For Restructuring Deal
Takata is selecting a financial backer as it faces billions of dollars in costs to replace as many as around 100 million potentially defective air bags.
Takata Logo. (Photo: Reuters)
A steering committee for Takata Corp has selected US-based auto parts supplier Key Safety Systems as the final bidder to extend financial support for the Japanese air bag maker, three sources with knowledge of the process have told Reuters.
The steering committee has told the Japanese air bag maker's automaker clients that it has tapped Key Safety Systems, owned by China's Ningbo Joyson, to provide financial support for the company, three sources told Reuters.
Takata is in the process of selecting a financial backer as it faces billions of dollars in costs to replace as many as around 100 million potentially defective air bag inflators that have been linked to at least 16 deaths globally.
Recommended For You
- With Thor-Love and Thunder Announced, Here's How Jane Foster Becomes Worthy to Wield Mjolnir
- Neha Dhupia's 8-month-old Daughter Mehr Explains Monday Blues in the Most Adorable Manner
- Chandrayaan 2 Launched Successfully By ISRO | India's Second Moon Mission
- Jio Effect: Vodafone Introduces Rs 205 and Rs 225 Prepaid Recharge Plans - Here Are The Details
- Xiaomi Redmi K20, K20 Pro go on Sale Today: Price, Launch Offers and More