Federally owned Pension Benefit Guaranty Corp. will take over the pension plans of 70,000 Delphi Corp. workers and retirees, resulting in the cutting of benefits by about $800 million, The Detroit News reports. As part of the deal, the PBGC will receive a $3 billion general unsecured claim against Delphi’s assets. A plan to sell the bankrupt supplier to a partnership between Platinum Equity LLC and General Motors Co. recently was rejected by Delphi’s creditors. The PBGC also reportedly has ...

Premium Content (PAID Subscription Required)

"Supplier Roundup" 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:

  All of WardsAuto's reliable, in-depth industry reporting and analysis
  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!

For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: lwilliamson@wardsauto.com or phone: (248) 799-2642

Current subscribers, please login or CLICK for support information.

Already registered? here.