PARIS, Sept 25 (Reuters) - French car parts supplier Valeo on Wednesday announced it would inject $226 million into a rescue plan to recapitalise its insolvent U.S. subsidiary. Valeo said in a statement that Valeo Electrical Systems Inc. (VESI) was cleared to emerge from the protection of Chapter 11 of the U.S. bankruptcy code after the U.S. bankruptcy court approved the refunding plan. The plan should take effect from October 7, with payments to creditors holding "allowed claims" due to ...
Premium Content (PAID Subscription Required)
"Valeo unveils rescue plan for U.S. unit" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: email@example.com or phone: (248) 799-2642