These vehicles, from the 2001 to 2003 model years, have a manufacturing defect that greatly increases the risk of rupture, the National Highway Traffic Safety Administration said in a statement. Eight of the 10 U.S. deaths caused by Takata air bags — where the inflator breaks apart and sprays metal and plastic shards at vehicle occupants […]
Lazard Ltd., Takata’s financial adviser, will meet manufacturers as well as financial firms with the aim to find buyers by the fall, said the person, who asked not to be named because the discussions are private. Takata’s plan is to remain listed and maintain its core seat-belt, air-bag and steering-wheel businesses, while selling off non-core operations, […]
The shares jumped by 21 percent as of 2 p.m. Thursday. KKR aims to take control of the company and lead a restructuring effort in place of the founding Takada family, the Nikkei reported. Takata said earlier it retained Lazard Ltd. to pursue investment in the company. Representatives for Takata and KKR said they weren’t immediately […]
That compares with the company’s market capitalization of about $312 million, which has shrunk by almost 80 percent since the crisis began in April 2013. The auto-parts maker has estimated cash and equivalents may drop another 24 percent to 49.7 billion yen ($456 million) by the end of March 2017 if recalls continue at the current pace, […]
The worst-case recall scenario would involve 287.5 million airbag inflators, said the person, who asked not to be identified because the company’s deliberations are private. Takata and the automakers still have to determine how the costs are shared, the person said. Takata Corp., the supplier behind the auto industry’s biggest recall ever, estimated a comprehensive callback […]
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