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Article: This Just In.
- Article from:
- Crain's Detroit Business
- Article date:
- May 18, 2009
- Author:
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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Chrysler-Fiat to pick up local suppliers' contracts
More than 200 local auto suppliers will see their Chrysler L.L.C. contracts picked up and will be paid more than $320 million when the automaker links with Fiat S.p.A.
The companies are among 1,200 Chrysler suppliers that will have their contracts transferred to the new Chrysler-Fiat entity expected to rise out of Chrysler's Chapter 11 bankruptcy proceedings. Suppliers will be paid for what they were owed before Chrysler filed for bankruptcy 40 percent before the sale to Fiat and 60 percent after. A list of the local suppliers and how much they're owed is at www.crains detroit.com/multimedia.
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