Detroit News noted that the Old Carco has been given permission to sell its Newark, Delaware assembly plant to the University of Delaware. The plant, which most recently made the Durango and Aspen, was one of the last of many Northeastern auto plants to close down. Chrysler Group purchased $25,000 of equipment from the plant [...]
About 400 hourly employees from the Chrysler stamping plant in Twinsburg, Ohio will be given an opportunity to come to the Motor City and fill positions at the Warren and Sterling stamping plants. Chrysler says 150 of the workers could go to Warren with the balance being assigned to Sterling.
The Twinsburg plant was one of [...]
Old Carco LLC defaulted on $3.34 billion in debtor-in-possession financing from the U.S. and Canadian governments in June. The company also missed a $29 million interest payment on the loan.
According to documents filed yesterday, the remnants of Chrysler that remained in bankruptcy had costs of $10.2 billion in June, more than the total assets with [...]
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