According to foreign media reports, Takada’s board of directors has already passed the decision to file a bankruptcy application in Japan, and the company will seek emergency short-term loan assistance in the next step. According to the report, Takada will seek a bridge loan from Japan's major financial institution, Sumitomo Mitsui Financial Group, to deal with various debt problems, and the amount of loans will reach tens of billions of yen (100 million US dollars).
As one of the world's largest providers of automotive airbags, Takada has been in talks with China-controlled KSS for several months. KSS is a competitor of Takada's industry and was acquired by China's auto parts manufacturer, Junsheng Electronics, in early 2016.
According to reports, KSS agreed to acquire all the assets related to the recall of the problem balloon in Takata for US$1.9 billion. KSS President and CEO Jason Luo said in a statement that the "potential power" of Takada's business has not been weakened despite the airbag recall.
KSS plans to retain Takata's employees worldwide "substantially all" under the same employment conditions and denied that it will close Takada's factory in Japan.
At the same time, KSS stated that it will continue to perform contractual supply unrelated to the problematic airbag recall and will sign the final agreement within a few weeks.
KSS expects that the entire acquisition will be completed in the first quarter of 2018.
Frp Store Tank,Underground Frp Storage Tanks,Frp Chemical Storage Tanks,Frp Storage Tank
Hebei Chunfeng International Trade Co., Ltd , https://www.cfironcastings.com