Takata Files for Bankruptcy, Sells Business to Michigan Supplier

Takata filed for bankruptcy Monday and will sell a majority of its business to Michigan-based Key Safety Systems for $1.6 billion, according to court filings and company statements. As reported last week, Key Safety Systems—owned by Chinese electronics supplier Ningbo Joyson—emerged as the leading bidder for Takata. However, Takata’s airbag division will be shut down […]

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