Reaches agreement to be acquired by US-based Key Safety Systems.
Japan’s Takata Corp, the manufacturer at the center of the airbag recall, filed for bankruptcy protection in both the United States and Japan, and announced it would be acquired for $1.6 billion by Sterling Heights, Michigan- based Key Safety Systems (KSS).
Under the agreement, KSS will acquire substantially all of Takata’s assets, except the operations that relate to Takata’s manufacturing of phase-stabilized ammonium nitrate (PSAN) and airbag inflators that are at the center of the recall. According to a press release from the two companies announcing the sale, it is
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