CANBERRA – The sale of Ion Automotive Systems Pty. Ltd.’s automatic transmission plant in Albury, New South Wales, is delayed after the buyer’s financial backers impose new conditions. Powertrain Products International had agreed to buy Australia's only automatic transmission plant from the administrators selling the assets of the failed car-parts group. (See related story: Bankrupt Ion Sells Oz Transmission Plant to PPI) Ion Administrator Colin Nicol says the sale of the plant has been ...
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