Collapsed Australian car-parts group Ion Automotive Systems Pty. Ltd. signs a contract to sell its automotive transmission manufacturing facility in Albury, New South Wales, to Powertrain Products International Pty. Ltd. (PPI) for A$48 million ($36 million). Ion administrator Colin Nicol says in a statement that PPI's bid is supported by global trading house Marubeni Corp. of Japan. Nicol says the purchase price is adjusted for warranties provided by the vendor and working capital assets ...
Premium Content (PAID Subscription Required)
"Bankrupt Ion Sells Oz Transmission Plant to PPI" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
Current subscribers, please login or CLICK for support information.