LLC enters into a fourth interim agreement with bankrupt parts-supplier Plastech Engineered Products Inc.
The agreement continues the production of component parts at Plastech forvehicle programs through April 2. A third interim agreement expired March 17.
Last month, Chrysler terminated its agreements with Plastech over substandard performance and tried to seize tooling from the Tier 1 supplier. Plastech filed for Chapter 11 protection, which triggered a stay and prevented Chrysler from transferring the work to alternate suppliers.
Plastech supplies parts for more than half of Chrysler’s products.
Corp. filed a request with the bankruptcy court last week to recover tooling from Plastech if it cannot fulfill supply agreements. Plastech provides parts to GM’s fullsize pickup and SUV programs.