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 ...
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