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1-min read

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.

Reuters

Updated:February 4, 2017, 1:59 PM IST
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Takata Selects KSS As Final Bidder For Restructuring Deal
Takata Logo. (Photo: Reuters)
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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.

Also read: BMW to Recall 230,117 Vehicles That May Have Takata Air Bags

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.

Also read: Honda Recalls 41,580 Units of City, Civic, Accord and Jazz Models in India

| Edited by: Abhilasha Singh
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