Johnson Controls Inc. agrees to pay nearly $200 million to buy the interiors business of bankrupt Plastech Engineered Products Inc., which earlier abandoned plans to reorganize under Chapter 11 bankruptcy protection, Reuters reports. As part of the deal, JCI will assume $160 million in debt and pay $39.5 million in cash for 23 of Plastech’s interiors facilities, current inventories, contracts and real estate. Magna International Inc. says it will lay off 400 workers at its St. Thomas, ON, ...
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