Viewing entries tagged with 'Takata'

European Commission announces fines

The European Commission (EC) has announced fines for car parts makers Autoliv and TRW (now acquired by ZF Friedrichshafen) for a cartel in the supply of airbags, seatbelts and steering wheels to the Volkswagen and BMW groups.

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Takata whistleblowers receive US$1.13m

US law firm Constantine Cannon has announced that two of its whistleblower clients will receive more than US$1.13m to settle their claims for whistleblower awards for information they provided to the US government in its criminal case against Takata, the now-bankrupt maker of defective airbags.

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KSS to purchase substantially all of Takata’s assets

Key Safety Systems (KSS), headquartered in Sterling Heights, Michigan, USA, and Takata, a supplier of automotive safety systems such as seatbelts, airbags and child seats, have reached an agreement in principle to sponsor a restructuring plan for the purchase of substantially all of Takata’s global assets and operations by KSS for an aggregate purchase price of US$1.6bn, subject to certain adjustments at closing.

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Scandal-hit airbag maker files for bankruptcy in Japan and the US

Takata, the Japanese automotive supplier at the centre of an unprecedented global recall of exploding airbags, has filed for bankruptcy protection in Japan and the US, with its liabilities exceeding US$9bn, to address massive recall costs.

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Four automakers announce Takata settlements

BMW, Mazda, Subaru and Toyota have announced agreements to resolve economic loss claims in the Takata multi-district litigation in the US.

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Takata pleads guilty in probe over exploding airbags

Takata, the Japanese automotive supplier at the centre of a global recall crisis over exploding airbags, has agreed to plead guilty to criminal wrongdoing in the US, as three of its executives were indicted for their roles in the scandal.

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Takata to sell US automotive interiors unit

Troubled airbag maker Takata is selling its US automotive interior trim and seating material operation, raising cash as its airbag inflator recall costs continue to mount.

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Takata to sell automotive interiors division

Takata, the embattled Japanese manufacturer of rupture-prone airbags, has put its automotive interiors division up for sale in a move to improve the company’s balance sheet as recall costs mount.

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NHTSA airbag spotlight moves to Honda

The US National Highway Traffic Safety Administration says it will examine whether Honda failed to report deaths or injuries involving airbags that are part of the regulators’ investigation into faulty equipment supplied by Takata to a number of original equipment manufacturers.

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Takata airbag recall extended to 7.8m vehicles

US safety regulator National Highway Traffic Safety Administration (NHTSA) has expanded the number of vehicles in the US that may be affected by recalls for potentially defective Takata airbags that could spray “shrapnel” at occupants from 6.1m to 7.8m.

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