Three months after putting itself up for sale, ailing plastics supplier Cambridge Industries Inc. has agreed to be acquired by Meridian Automotive Systems Inc. for $363.1 million. Under the agreement with Meridian, Madison Heights, MI-based Cambridge has filed for Chapter 11 bankruptcy protection. It is the second major metro Detroit plastics supplier to file for bankruptcy, following Novi, MI-based Key Plastics LLC last month. Industry analysts believe Cambridge's financial woes are a ...

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