Key Automotive Group is shaking things up at Breed Technologies Inc. after formally acquiring the supplier on April 25. Most notably, Key is cutting some 3,500 Breed employees worldwide from now until the end of 2004. New Breed (and Key Plastics LLC) CEO and Chairman B. Edward Ewing says it is necessary for the supplier’s survival, as it burned through $50 million more per year in cash than it produced since emerging from Chapter 11 bankruptcy protection in December 2000. ...
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