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Old 11-17-2008, 02:55 PM   #1
AVANTI R5
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Default Getrag Files For Bankruptcy





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If you need more proof Chrysler is going to have a rough future, check out the bankruptcy filings for Getrag Transmission Manufacturing. The non-Ford US arm of transmission manufacturer Getrag filed for bankruptcy protection because it will be unable to pay for an Indiana plant it was supposed to build with Chrysler. We reported last year about the $530 million plant that was going to build a six-speed DSG gearbox for future Chrysler cars.

Chrysler is suing Getrag for failing to secure $300 million in debt financing as part of the joint-agreement. As one can imagine, getting credit in this market to build a plant for future Chrysler cars isn't easy.

Though the plant is 80% complete, it isn't clear who could come in and pay for completion of the plant or if Chrysler will have cars to put the new transmissions in for the future since the company has few new cars coming down the pipeline. This is more bad financiapocalypse news for Indiana, a state in need of those extra jobs. (Thanks J. Katz For The Tip) [IndyStar]
http://jalopnik.com/5090613/getrag-u...its-unfinished
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Old 11-17-2008, 05:17 PM   #2
Jtree
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well this will sure help the decline of manual transmissions.
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Old 11-17-2008, 05:25 PM   #3
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"The non-Ford US arm of transmission manufacturer Getrag"
... so someone explain something to me... is Getrag somehow related to Ford? I thought it was a German company.

Anyways, this does suck and shows just how bad the economy is, and how tight financing is. When everyone was bitching and complaining about the financial bailout.. well if it didn't go through, this situation with Getrag and not being able to secure financing would be even more common than it already is. Without a free flow of money, the economy stops.
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Old 11-17-2008, 06:00 PM   #4
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It's a bit confusing, yeah.

First of all the bankruptcy filing only involves the sub-company founded for the Chrysler DSG plant, not all of Getrag. As the article says, it's probably not easy to secure financing for future Chrysler projects. Chrysler was supposed to be the only customer of that company, and since they bailed, the sub-company is obviously bankrupt.

Getrag Corp Group, the German mother company has a couple of sub-units (Getrag Americas, Getrag Asia Pacific etc.) and one of them is Getrag Ford Transmissions, a joint venture between Getrag and Ford Europe.
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Old 11-17-2008, 06:15 PM   #5
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I extend an open invitation for anyone to come and drive my M3 and remain sad about this.

They can really make a ****ty box...separate companies or not.

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Old 11-18-2008, 01:35 PM   #6
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Originally Posted by REX8 View Post
I extend an open invitation for anyone to come and drive my M3 and remain sad about this.

They can really make a ****ty box...separate companies or not.

I concur. Mini's manual trannys are getrag and they are s***, excluding the r53's box.
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