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Article: Auto fallout lands on tire, parts suppliers.
- Article from:
- Rubber & Plastics News
- Article date:
- January 12, 2009
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Miles Moore
With General Motors Corp. and Chrysler L.L.C. starting to receive some of the $17.4 million in bailout money approved by the Bush administration in December, suppliers to the domestic auto industry know that the tough times are far from over.
Though some companies are more specific than others in what they reveal, various businesses in the tire and auto parts industries agree that certain austerity measuresincluding production curtailments and employee layoffshave proven expedient in what some commentators call the worst economic crisis since the Great Depression.
"The effect of the current economic downturn on the whole tire ...