TAKATA air bag maker files for Bankruptcy
06-26-2017 | 01:01 AM
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TAKATA air bag maker files for Bankruptcy
Well this was bound to happen...
TAKATA files for Bankruptcy in US and Japan.
The maker of the Air Bag inflator modules which have been the cause in over 15 Deaths and 100's of serious injuries as these defective inflators were either overfilled or igniter compound subject to higher moisture content which made the explosive force of inflator way above specification which cause the metal casing to rupture into smaller fragments which became sharp knife like projectiles hitting car occupants during deployment of AB due to car accident.
Most of the deaths have been in Honda vehicles and interestingly Honda is also a major shareholder in TAKATA.
The worldwide recall of these Inflator modules affects virtually all automotive car brands and is still the largest recall in Auto history and will be at least another 5 years before finished.
The cost to every car brand has also been enormous, particularly those who have had to recall the same cars more than 2 times.
Takata replaces the Inflator Module at no cost to the car maker, BUT, the car maker wears the Dealer reimbursement Labour costs which will run into the $billions when finished. Shareholder have been advised that dividends will be small or zero for a few years.
http://www.autonews.com/article/2017...autonews-blast
TAKATA files for Bankruptcy in US and Japan.
The maker of the Air Bag inflator modules which have been the cause in over 15 Deaths and 100's of serious injuries as these defective inflators were either overfilled or igniter compound subject to higher moisture content which made the explosive force of inflator way above specification which cause the metal casing to rupture into smaller fragments which became sharp knife like projectiles hitting car occupants during deployment of AB due to car accident.
Most of the deaths have been in Honda vehicles and interestingly Honda is also a major shareholder in TAKATA.
The worldwide recall of these Inflator modules affects virtually all automotive car brands and is still the largest recall in Auto history and will be at least another 5 years before finished.
The cost to every car brand has also been enormous, particularly those who have had to recall the same cars more than 2 times.
Takata replaces the Inflator Module at no cost to the car maker, BUT, the car maker wears the Dealer reimbursement Labour costs which will run into the $billions when finished. Shareholder have been advised that dividends will be small or zero for a few years.
http://www.autonews.com/article/2017...autonews-blast